Why you should enroll in myHSAinvestments
myHSAinvestments gives you the ability to invest a portion of your HSA balance in a variety of mutual funds, with the potential to increase your future HSA balance. Members can start their HSA Investment account with $0 or any transfer amount over $100. All future investments must be $1,000 or more. The funds will be transferred from your ALEC HSA Savings account. You can find your HSA share draft account number on your checks. If you don’t have checks and only have a debit card for your HSA account, please contact us at 800.762.9988, ext. 407.
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 ALEC HSA share draft 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 data 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..|
After completing a few simple questions about your need to access the money in your myHSAinvestments account, a potential allocation mix is provided. This allows you to choose your investment options and the rebalancing timing that meets your individual needs.
When you enroll in myHSAinvestments, you have the tools and power to:
Use HSA Guided Portfolio, 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.”
Find educational information to help you understand basic investing concepts and strategies.
Access mutual fund prospectuses and Morningstar® reports to help you understand the strategies and risks associated with each fund, and how the available funds have performed historically.
A simple flat fee
When you activate your myHSAinvestments investment 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 quarterly investment account service fee is a minimum of $5.00 based on the value of the assets in your investment account. Standard expense ratios and fees inside the mutual funds may apply based on the funds you choose.
Open an ALEC Health Savings Account today (if you don’t already have one), then register with myHSAinvestments to begin building your healthy future.