Managing Your HSA Investment Account
Follow the directions below to set your investment sweep amount, make investment elections, and transfer HSA funds between investments.
IMPORTANT: YOU MUST DEFINE YOUR INVESTMENT SWEEP AMOUNT BEFORE MAKING INVESTMENT ELECTIONS TO YOUR HSA.
You must maintain a minimum $2,000 balance in the FDIC- insured, interest-bearing cash account before utilizing the investment account. This minimum cash balance is your “investment sweep amount.” Funds will automatically be sold from your investment account (on a pro-rata basis) to replenish your cash account when you use your debit card. Your debit card is only linked to your cash account, so debit transactions cannot exceed your cash account balance. Keep this in mind when determining your sweep amount.
To set your investment sweep amount, click Setup Investment Transfers and enter your desired sweep amount. The sweep amount must be $2,000 or greater in increments of $100. Ensure the box stating Define Investment Sweep Amount is checked before clicking Save.
Once you have defined your investment sweep amount, any contributions more than that amount will be directed to your investment account. If you do not set your investment elections, the amount directed to your investment account will default to an FDIC Insured interest-bearing account.
After you set your investment sweep you can continue to the investment portal and set your Investment Elections. As long as both steps are completed before 1:30 p.m. CT, your existing balance (above your threshold) will appear in the funds you select within two business days.
If you set your investment sweep amount after 1:30 p.m. CT you should return to the investment portal after two business days (when your balance appears in the investment account) and select the Realign Investments option. This process will direct existing and future HSA funds (above your threshold) into the designated investment options.
Click on Manage Investments to view your HSA Investment Account. You will be required to answer a personal security question to access this area of the portal.
- Investment Elections – Future Deposits
Investment elections can be set or changed by clicking Manage My Account>Investment Elections. Changes you make here will only affect your investment elections for future deposits into your HSA.Remember, you must define your investment sweep amount BEFORE doing this step, for your investment elections to be effective.
- Transfer Funds – Existing Balances
Use the Realign Investments or Transfer Investments options to make changes to existing HSA balances. Use these options if your current HSA balance already exceeds your investment threshold amount.
IMPORTANT: You must define your investment sweep amount before 1:30 p.m. CT, one business day prior to performing the Realign Investments or Transfer Investments tasks for the transfers to be effective.
- Realign Investments affect your entire investment account balance. Realignment initiates the sale of existing investments and reinvests the proceeds according to your new investment elections.
- Transfer Investments initiate a sale of one or more funds and a purchase into another fund or funds. Transferring investments will not change your elections for future contributions to your investment account.
Trades initiated before 1:30 p.m. CT will be initiated the same business day. Trades initiated after 1:30 p.m. CT will be initiated the following business day.