On January 30, 2020, HealthEquity sent two versions of the monthly electronic communication to Health Savings Plan participants focusing on changes to the HealthEquity platform that allows those with at least a $1,000.00 Health Savings Account balance to invest funds.
For members who are already investing, the e-mail emphasized a simpler process for ongoing portfolio management and a lineup of high-quality, low-cost mutual funds with no hidden fees.
For members not currently investing, the message to them was that the improved platform clearly defines the steps to enroll, and makes it easy to manage and monitor their trades.
HealthEquity also highlighted that as of January 1, 2020, they implemented a reduction in the investment administration fee from 0.033% per month (for a total of 40 basis points annually) to a new fee of 36 basis points annually (0.03% per month) with a $10 monthly fee cap.
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