Health Savings Account Investment FAQs*

How do I open an HSA Investment Account?
How do I access my HSA Investment Account?
How do I transfer funds from my health savings account into my HSA Investment Account?
Where can I find the funds that are offered?
After I open my HSA Investment Account, how do I change my investments?
What do I do if I wish to make a withdrawal from my HSA Investment Account?
Where can I find information on a particular fund that is offered?
Is there a minimum balance requirement to open my Health Savings Account (HSA) Investment Account?
How much do I need in my health savings account before I can start investing?
How frequently are statements issued?
Can I set up recurring transfers to my HSA Investment Account from my health savings account?
Why did my recurring transfers from my health savings account to my HSA Investment Account not take place?
When I elect recurring transfers and my health savings account balance dips below the minimum $2,000, will funds be automatically swept from my HSA Investment account to my health savings account?
Is my HSA Investment Account FDIC insured?
Are there any investments that are FDIC insured?
Can I use the funds in my HSA Investment Account to pay for eligible medical expenses?
Will I need a separate PIN to access my HSA Investment Account?
Is it possible to elect other investment options other than the mutual funds listed?
What are the fees associated with the HSA Investment Account?
Are there fees to transfer between funds or to sell funds in my HSA Investment Account?
When I transfer between funds or liquidate money and send it back to my health savings account, will I need to report Capital Gains and Losses?
Is the HSA Investment Account part of my health savings account?
What is a self-directed HSA Investment Account?

Section 1: ACCOUNT SET-UP / ACCESS / SELF DIRECTED INVESTING

How do I open an HSA Investment Account?
After your health savings account balance reaches the minimum balance requirement of $2,500, the easiest way to open an HSA Investment Account is through your plan’s member web page. On this web page, there will be a link entitled "Click here to enroll OR login to HSA Investment Account".  Choose this link and you will be directed to the terms and conditions detail for the HSA Investment Account, a screen to elect your initial investment dollar amount, and finally a screen that will allow you to select your investment options.  You can also contact an investment representative by calling 866-381-7346 and pressing “0” to speak to a representative. 

How do I access my HSA Investment Account?
You may access your HSA Investment Account either through the plan’s member web page or by calling 866-381-7346.  

How do I transfer funds from my health savings account into my HSA Investment Account?
Through the plan’s member web page you may choose to move money to your HSA Investment Account.  As long as you maintain a balance of $2,000 in your health savings account, you can elect to schedule regular fund transfers to your HSA Investment Account or a one-time transfer of funds by selecting the “Transfer Funds” option. Once the transfer is processed, funds that come into the HSA Investment Account will automatically be invested into your pre-selected investment allocations.  If you have not pre-selected your investment allocations, your funds are invested into the Fiserv Trust Institutional Money Market Money Market Account.

Where can I find the funds that are offered?
To view the available fund menu you may access your plan’s member web page.  Click on the “Members” menu selection and then on the “Investments” menu selection on the next screen, listed under ‘Health Savings Account.”  In the text of the main page is a link that states “Click Here” and this will display the currently available funds.

After I open my HSA Investment Account, how do I change my investments?
To make a change to your investment election, you may access the plan’s member website to transfer balances between mutual funds.  After accessing the investment page of your HSA Investment Account, select the “Transfer Funds” menu option on the left hand side of the investment screen.  In addition, you can also transfer funds by calling 866-381-7346 and following the automated prompts. 

What do I do if I wish to make a withdrawal from my HSA Investment Account?
To make a withdrawal from your HSA Investment Account, simply elect to transfer funds to your health savings account either through the plan’s member web page or by call 866-381-7346 and following the prompts. All money will be disbursed directly to your health savings account and be available for your use to pay for qualified medical expenses.

Where can I find information on a particular fund that is offered?
Once an investment account is opened you can access information on a certain fund from your plan’s member web page or by calling 866-381-7346.   You can also obtain information by contacting the fund managers directly.

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Section 2: PRODUCT DEFINITION AND FEATURES

Is there a minimum balance requirement to open my Health Savings Account (HSA) Investment Account?
To become eligible to open an HSA Investment Account, your health savings account balance must be at least $2,500.  An initial investment of $500 will allow you to open an investment account after that threshold has been met. 

How much do I need in my health savings account before I can start investing?
When your health savings account balance reaches $2,500 you are eligible to open an HSA Investment Account.  You will need to maintain a minimum balance of $2000 in your health savings account and you can transfer any amounts exceeding $2,000 to your HSA Investment Account.  There is a $500 minimum initial investment.

How frequently are statements issued?
Your HSA Investment Account statement will be combined with your other HSA related statements and distributed on a monthly basis.

Can I set up recurring transfers to my HSA Investment Account from my health savings account?
To start recurring transfers, view your health savings account online.  Select the “Recurring Investment” button and follow the prompts.

Why did my recurring transfers from my health savings account to my HSA Investment Account not take place?
Your health savings account must have a minimum balance of $2,000 to continue recurring transfers.  Once the balance falls below $2,000, transfers are stopped.  If your health savings account balance is over $2,000 and you would like recurring transfers to resume, access your health savings account online and select the “Recurring Investment” option and reinstate or change the transfer amount.

When I elect recurring transfers and my health savings account balance dips below the minimum $2,000, will funds be automatically swept from my HSA Investment account to my health savings account?
No, the automatic recurring transfers will stop.  Once your balance is again over $2,000 you make re-initiate the recurring transfers.

Is my HSA Investment Account FDIC insured?
Mutual funds are not FDIC insured.  You could lose the money you invest. Investments are not guaranteed by the Blue Healthcare Bank, Fiserv Trust, the FDIC, or any other state or federal government agency.  Investors should read the fund’s investment documents, including prospectus, and consider all investment objectives, risks and charges and expenses associated with an HSA Investment Account before deciding to invest.  Past performance does not guarantee future results, investment return and the value of the investment will fluctuate, the value of your HSA Investment Account, when redeemed may be worth more or less than the amount you contribute.  You could lose money.

Are there any investments that are FDIC insured?
The Fiserv Institutional Money Market offered through in your HSA Investment Account is an FDIC insured depository account.  Each participant’s deposits are insured up to the FDIC limit of $100,000.  If you would like more information on this investment option, you can access this information via the investment web page or by calling 866-381-7346. 

Can I use the funds in my HSA Investment Account to pay for eligible medical expenses?
No. Payments for qualified medical expenses must be made from your health savings account.  However, you may transfer funds from your HSA Investment Account to your health savings account in order to pay for qualified medical expenses.  To make such transfers, simply go to the Plan’s member page. All money will be disbursed directly to your health savings account. You can also call them direct at 866-381-7346.

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Will I need a separate PIN to access my HSA Investment Account?
No. To access your HSA Investment account on-line, you will just sign-on to your plan’s member web page and select your HSA Investment Account.  When accessing the IVR phone service, you will be prompted to set up a PIN. 

Is it possible to elect other investment options other than the mutual funds listed?
No.  The funds listed are the funds plans have selected to use.  We will continue to review the funds offered and may expand or change fund options in the future.

What are the fees associated with the HSA Investment Account?
The HSA Investment Account fee is listed on the HSA Fee schedule.  The fee is a monthly fee that generally would be deducted from the health savings account.  Note: There may be instances where the fee is paid by your employer. 

Are there fees to transfer between funds or to sell funds in my HSA Investment Account?
Neither Blue Healthcare Bank nor Fiserv Trust will charge for transfers between funds.  However, some mutual funds may charge a fee related to fund transfers.  Please refer to the mutual fund prospectus for additional information on fees related to transfers. I will transfer you to one of our investment representatives, or you can call them direct at 866-381-7346.

When I transfer between funds or liquidate money and send it back to my health savings account, will I need to report Capital Gains and Losses?
Current tax law does not require the reporting of capital gains or losses in an HSA Investment Account.  We would recommend you speak to your financial advisor.

Is the HSA Investment Account part of my health savings account?
Yes. While the HSA Investment Account is held in the custody of Fiserv Trust Company, it remains part of your health savings account.

What is a self-directed HSA Investment Account?
A self-directed HSA Investment Account is part of your health savings account available through Fiserv Trust Company.  The self-directed account allows you to choose from a fund list when investing your HSA funds.

*The Bank will make reasonable efforts to update these FAQs as needed to reflect changes in federal regulations. However, these FAQs do not constitute legal advice and The Bank makes no warranties with respect to the same.

*Fiserv Trust Company does not render investment advice nor have any discretion for the investments provided and does not make any representations or warranties that it does. Mutual fund accounts are not deposits in, or obligations of, and are not guaranteed by Blue Healthcare Bank or Fiserv Trust Company. Mutual funds are not FDIC insured and are subject to investment risk, including the possible loss of the amount invested.

Fiserv Trust Company, member FDIC. Investment Products: Not FDIC Insured. No Bank Guarantee. May Lose Value.