HSA Bank Adds Milliman ETFs Targeting Healthcare Inflation

Milliman has partnered with HSA Bank to make its two healthcare inflation-focused ETFs available through the HSA Invest program, marking the first time an HSA provider has offered these strategies. The Milliman Healthcare Inflation Guard ETF (MHIG) seeks to match U.S. healthcare cost inflation over time, while the Milliman Healthcare Inflation Plus ETF (MHIP) aims to outperform it. Both actively managed, multi-asset funds use Milliman's Health Trend Guidelines to inform return targets and portfolio allocations, combining healthcare-related equities, bonds, and alternatives to manage volatility. The offering addresses growing concerns about healthcare expenses, which have increased by more than 10% over the past year, according to Milliman. The expansion also highlights an untapped investment opportunity in HSAs, where only 22% of participants currently invest a portion of their account assets.