"I only have clients invest the portion of the account that exceeds their annual deductible on their health insurance," said Filip Telibasa, owner of Benzina Wealth in Sarasota, Florida. "This way, if they have unexpected medical expenses, the funds are not invested and exposed to short-term market risk. The remainder of the account should be invested similarly to retirement accounts, as it has a long time horizon and grows tax-deferred and tax-free if used for medical expenses. By taking more risk with this portion of the account, we maximize our long-term benefits without compromising risk over the short term."