Your money can make money. That's right. HSA contributions can be invested, and the earnings and dividends are all deposited back into the health savings account tax-free. Thus, saving money isn't the only financial benefit of an HSA. Earning money is a possibility too.
Once you’ve saved $1,000, you can establish an investment account using your HSA contributions, with a variety of mutual funds to choose from.
BONUS: All earnings, interest and investment returns are tax-free
Visit our website at theHSAauthority.com or call an HSA Specialist at 1-888-472-8697, Monday through Thursday, 9am–6pm ET and Friday, 9am–7pm ET. Within 5 business days of submitting a completed Investment Enrollment Form, you will receive an email with instructions on how to set up and fund your new investments from your HSA checking account.
You may make changes to your investment holdings once per day, but 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 fee information specific to the fund’s short-term trading policies.
Your balance and activity is updated nightly in accordance with New York Stock Exchange trading days.
The HSA Authority Investment account is a self-directed account. It is wise to review your goals, objectives, health care needs and risk tolerance on a regular basis. It is up to you to determine the appropriate timeframe to re-balance your account. It is recommended that you consult with your personal investment advisor prior to making investment selections.
The expense ratio will vary by fund. To find information on a particular fund’s expense ratio, please consult the fund’s prospectus or view the fund’s current Morningstar® report by clicking on the fund name displayed in your The HSA Authority Investment account.
Redemption and exchange fees will vary by fund and fund family, so you should consult the fund’s prospectus for redemption or exchange fee information. You may also find redemption fee information on the investment website under the “Realign HSA Investments” link. Here any fund that has an associated short-term redemption fee will be indicated on the investment website.
From time to time, Devenir may make changes or additions to the group of available funds. You may invest in as many of the funds as you elect.
The mutual funds in The HSA Authority Investment platform 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 the HSA Investment platform. We recommend contacting the fund company directly to review their individual policies on breakpoints.
Devenir, LLC, is a registered investment adviser that was chosen by Old National Bank to research and select The HSA Authority Investment account mutual fund investment options. Devenir’s investment selection methodology screens the plan’s mutual fund options on a number of criteria, which includes, but is not limited to, total fund performance, category ranking by Morningstar® and track record. Devenir will periodically review and may recommend changes in the group of mutual funds available. If a particular fund no longer meets Devenir’s investment selection criteria, it will be discontinued as an investment option. You will not be given a separate notice of these changes; however, changes to the fund line-up will be reflected on the investment website and on the quarterly HSA Investment Options listing.