Investing Your HSA Dollars
Why would you want to invest your HSA dollars? Let’s consider just a few of the benefits of investing:
- Maximize your tax savings
- Earn more on your unused dollars
- Save for health care in retirement
- Take control of your money and your investment activity
- Easy access to your money, when you need it most
About myHSAinvestments
myHSAinvestments is a suite of mutual funds available to you that allows you to invest a portion of your health care dollars in a variety of widely recognized mutual funds covering a spectrum of asset classes. The ability to invest in mutual funds gives you the potential to grow your HSA balance and save for future health care expenses.
How does the account work?
myHSAinvestments are self-directed investments, but are still considered part of your HSA for tax purposes. This means you choose from the available list of funds in which to invest a portion of your HSA dollars. Any earnings from your HSA investments grow tax free.
Do I need to understand investing to use myHSAinvestments?
You do not need to be experienced at investing to use myHSAinvestments. Start by visiting myHSAinvestments.com and selecting the “Learn More” button on the “Home” page, and you will be guided through the set-up process.
How do I enroll in myHSAinvestments?
Enrolling at myHSAinvestments.com is easy.
- Visit www.myHSAinvestments.com and complete the short application linking your HSA account to the investment platform.
- You will need to enter your HSA account number and ABA routing number as well as a few pieces of identifying information, and select your initial investment elections.
- Once you enroll, your HSA account number and requested balance information will be verified.
- When the account has been verified, an ACH transfer will move the money from your HSA to your myHSAinvestments account and invest the money into your initial investment elections.
- You will receive a confirmation email from myHSAinvestments notifying you when the account has been set up. At this point, you can view your account.
What research tools are available to me in myHSAinvestments?
What is HSA Guided Portfolio?
HSA Guided Portfolio is a planning tool that helps you make the most appropriate investments for your objectives and risk tolerance. Think of it as: “We Guide, You Choose.”
After completing a few simple questions about your risk tolerance, how you intend to use your HSA investment account, and your need to access the money in your myHSAinvestments account, a potential allocation mix is provided.
This allows you to choose your investment options; select the rebalancing timing that meets your needs; and enroll in the autorebalance option, which automatically rebalances your investment assets on a monthly, quarterly, or yearly cycle.
What does it cost to use myHSAinvestments?
What does it cost to use myHSAinvestments?
When you activate your myHSAinvestments account, you pay a 0.50 percent annual fee invoiced quarterly (0.125 percent per quarter or $1.25 per $1,000 of account value).
The minimum quarterly myHSAinvestments account service fee is $5.00. This will be deducted from your myHSAinvestments account each quarter, around the tenth business day of the month following the end of the quarter that your myHSAinvestments account was opened. Standard expense ratios and fees inside the mutual funds may apply based on the funds you choose.
What are my mutual fund options?
What are my mutual fund options?
The current lineup of myHSAinvestments mutual fund options can be found here or by visiting myHSAinvestments.com under “What funds are available?” on the “Features” page.
How do I obtain a prospectus for the available mutual funds?
Prospectuses can be found under “Resource Links” on the Fund Performance Dashboard, or by clicking here.
How often can I make changes to the mutual funds in myHSAinvestments?
How often can I make changes to the mutual funds in myHSAinvestments?
You can make changes to your investment holdings once a day. Keep in mind, mutual funds are considered long-term investments and some funds may charge short-term redemption fees to discourage market timing practices. Please review the fund’s prospectus for fees related to the fund’s short-term trading policies.
How do I pull money from my HSA investments back to my base account to pay a bill?
How do I pull money from my HSA investments back to my base account to pay a bill?
You can move money back to your base HSA by using the “Move Money” link under the “Invest” tab. Your mutual funds will be liquidated according to account holders’ current fund percentage allocations. Dollars will typically be transferred to your base HSA account within two to three business days.
How often are my balance and activity information in myHSAinvestments updated?
How often are my balance and activity information in myHSAinvestments updated?
Your balance and activity status are updated on a nightly basis in accordance with New York Stock Exchange trading days.
What minimum investments apply?
What minimum investments apply?
No minimum investment amounts apply to the mutual funds through myHSAinvestments.
What commissions or loads apply?
What commissions or loads apply?
The mutual funds in this program are either no-load, load-waived, or (where available) institutional share class funds, which means any retail loads or commissions do not apply.
How often should I re-balance my asset allocation in myHSAinvestments?
myHSAinvestments is self-directed, which means you’re in charge of important decisions like when to rebalance your portfolio so your investments stay in line with your original asset allocations.
Rebalancing is important because it requires you to review your goals, objectives, health care needs and
risk tolerance on a regular basis (the frequency is up to you). With HSA Guided Portfolio, you can automatically schedule rebalancing and easily maintain your asset allocation strategy. Be sure to consult your personal investment advisor before making any investment decisions.
What is the expense ratio of the mutual funds?
What is the expense ratio of the mutual funds?
You may find the expense ratio, prospectus, and Morningstar page on the Fund Performance Dashboard, or by clicking here.
How will I know if the funds I choose are subject to redemption or exchange fees?
If you see an alert icon next to a fund when you are realigning your account or transferring between investments, hover over the icon to see the trading policy that applies to that fund. See the example below:
For complete information concerning redemption or frequent trading policies, please refer to the fund’s prospectus. Links to the prospectus for each fund can be found under “Resource Links” on the Fund Performance Dashboard.
What happens to the dividends or interest I earn on my mutual fund investments?
What happens to the dividends or interest I earn on my mutual fund investments?
Dividend or interest income earned on your mutual fund investments is automatically reinvested back into the fund based on your investment selections.
If a new fund is added to the group of available mutual funds within the same asset class, can I invest in both funds?
If a new fund is added to the group of available mutual funds within the same asset class, can I invest in both funds?
From time to time, we may make changes or additions to the group of available funds. As a self-directed offering, you may invest in any or as many funds as you choose.
If I own any of the mutual funds in the myHSAinvestments outside of the myHSAinvestments, will I be eligible for breakpoints?
If I own any of the mutual funds in the myHSAinvestments outside of the myHSAinvestments, will I be eligible for breakpoints?
The mutual funds in myHSAinvestments are traded without a “load” commonly known as “load-waived.” These shares typically would not apply when purchasing load funds of the same family outside of myHSAinvestments. Contact the fund company directly to review their individual policies on breakpoints.
Is the money I invest in myHSAinvestments FDIC or NCUA insured?
No. Mutual funds are not insured by the FDIC NCUA, nor are they guaranteed by Gulf Coast Educators Federal Credit. As is the nature of investing, mutual funds may lose value, so it is your responsibility to understand the risks of investing your HSA dollars.
myHSAinvestments is powered by Devenir
Neither Gulf Coast Educators Federal Credit Union, nor Devenir Group, LLC, the third party, can provide investment advice to you on this program. Once you transfer funds from your HSA to myHSAinvestments, these dollars are no longer covered by applicable FDIC or NCUA insurance. We recommend you speak with a licensed investment advisor or consult the prospectus should you have questions about any investment. Carefully weigh the advantages and disadvantages of investing your HSA funds before doing so. Investment products are not federally-insured; may lose value and are not a deposit account. Investment accounts are not obligations of the credit union and are not guaranteed.
Funds should not be considered a deposit of or guaranteed by Gulf Coast Educators FCU, may lose value, and are not NCUA/NCUSIF Insured.