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Frequently asked questions (FAQs) about investing


Scroll through our list of FAQs to find answers to common questions about investing with your Optum Bank HSA.

 

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Investment FAQ

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How are the funds selected?

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A Registered Investment Advisor (RIA) has chosen the fund selection used by Optum Bank. The selected funds span the risk spectrum from conservative to aggressive. Funds are reviewed quarterly and adjustments are made based on investment policy criteria. Professional management fees are also considered and the fees for the selected funds typically rank average or below average within their fund group.

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Can funds be added to my plan?

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Periodically, based on the review of the performance of the fund selection by the RIA, new funds may be added to the fund lineup according to the RIA’s investment policy.

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What is a prospectus?

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A formal legal document that is required by and filed with the Securities and Exchange Commission. A prospectus provides details about an investment offering for sale to the public. A prospectus should contain the facts that an investor needs to make an informed investment decision. A fund prospectus contains details on its objectives, investment strategies, risks, performance, distribution policy, fees and expenses and fund management. You can use a prospectus to make better decisions about selecting funds.

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How can I obtain a prospectus?

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Sign in to your account, and navigate to your fund list. Click on the fund you want the prospectus for.

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Where can I get help deciding what funds to choose?

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Optum does not provide any investment advice, as this is a self-directed investment account. You can use the information in each fund’s prospectus to help you decide which funds are right for you.

It is always important to discuss with your financial planner if investing your HSA is right for you. Your financial advisor will also be able to provide you with information on how much is right for you to keep in your cash account and how much to place in investments.

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Setting up your investments

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What are the Electronic Consent Agreement and Trade Confirmation Waiver?

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These agreements are the agreements that govern your investment account with us. You need to agree to these documents in order to enroll in our investment account.

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How often can I change my investment elections?

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You can update your investment options once per trading day.

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How long before I can see my transfers in my investment account?

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Transfers that are entered before 4 p.m. ET on a trading day will be traded the same day and settled/posted on the next trading day.

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What is a trading day?

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A trading day is the time span that a particular stock exchange is open. Trading days never take place on weekends. There are several other special circumstances which would lead to a shortened trading day, or no trading day at all, such as on holidays.

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Can I check pending transactions?

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To view pending investment transactions, sign in to your account.

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Minimum balances

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What is the minimum investment balance?

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It is the minimum balance in your HSA that must be reached and maintained before you can begin investing or make additional investment purchases.

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What happens if I drop below the minimum?

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You can continue to use the money in your HSA however; you won’t be able to transfer any new funds into your investments until your HSA balance exceeds the investment minimum balance again.

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Recurring transfers

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What are recurring transfers and their benefits?

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Recurring transfers are transfers that you can set up by setting the desired minimum that you want to keep in your HSA.

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How do I set up recurring transfers?

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To set up a recurring transfer, sign in to your account and enter the threshold dollar amount you want to be applied to your recurring threshold. When your HSA balance exceeds that threshold, money will be swept out in $100 increments to your investment account and be allocated per the elections you have set up for investments.

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Can I turn off recurring transfers?

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Yes. To turn off or inactivate your recurring transfers, sign in to your account and edit your recurring transfers.

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Rebalancing transfers

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How do I sell back to my HSA?

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Sign in to your account to do a one-time transfer from your investment balance back into your HSA.

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How often can I sell back to my HSA?

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One transfer (or sell) is allowed from each mutual fund for any given trading day. This limit includes transfer between funds.

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How often can I transfer from one investment to another?

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One transfer is allowed from each mutual fund for any given trading day. This limit includes transferring money back into your HSA.

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Investment fund fees

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What are the fees charged for my transactions?

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There are no trading fees charged for investments associated with your HSA. Other fees and expenses applicable to continued investments are described in each mutual fund’s current prospectus.