Several brokers will be offering health savings accounts via HSA Bank, allowing clients to invest with the help of financial advisors. Dena Hendrikse, business relations coordinator at HSA Bank, said the firm currently offers a self-directed brokerage via TD Ameritrade, but that can be daunting to clients who have to choose their own funds. Under the new system, brokerage houses will offer advice and enable clients to use their advisors. Among the brokers are Sammons Securities and United Securities. HSA Bank has signed an agreement with Pershing to act as the clearing firm and provide HSA Bank with the trading data, Hendrikse said, but it will be about two months before the IT structure is finalized. Finding a clearing firm to work with was important because it simplifies the trading process, she said.

The next step, Hendrikse said, is to offer mutual funds in a similar fashion to 401(k) plans. That will be set up by the first quarter of next year, she said, and will involve sets of funds selected by a registered investment advisor. Hendrickse declined to name the advisor.