Lively raises $4.2M as it adds investment capabilities for health savings accounts

From Techcrunch


Lively co-founder Shobin Uralil likes to describe the health savings account as the “401(k) for healthcare” — but that it’s woefully underused as an investment vehicle like a 401(k).

So instead of just relying on it as a way to pay for healthcare, Uralil and his co-founder Alex Cyriac set out to build a way to not only help people start up health savings accounts, but also help them consider them in the same vein as other kinds of investments. Today, Lively said it is adding investment capabilities with an integration with TD Ameritrade, which will be available to all Lively HSA holders. The hope is that Lively will introduce a kind of investment that’s been available to the traditional finance community, but in a more seamless way in order to continue growing into a one-stop shop for HSA.

“The beauty of the HSA, with an HSA you can access the money at any time if you’re using it for qualified medical expenses,” Uralil said. “The 401(k), if you access your…

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