Is it possible to invest money while funding my health insurance?

Yes, if you have a health savings account (HSA). You can invest money that you deposit into an HSA account once the account reaches a certain amount, for example, $1000. Typically, HSAs are available if you have a high deductible health plan (HDHP). However, not all health plans offer the HSA option.

Money in your HSA account can accumulate over time because you are not required to spend all of the money by the end of the year (like in a flexible spending account). Therefore, those funds carry over from year to year.

Keep in mind that only health-related costs (qualified medical expenses) can be paid with the funds from an HSA account.

If you have further questions about HSAs or flexible spending accounts (FSAs), then talk with your health insurance plan representative and/or your employer.