HSA Investing with Optum Bank

Your Optum Bank Health Savings Account is a smart way to pay for qualified medical expenses, with significant tax advantages … but did you know it can also play an even greater role in your overall wealth and retirement strategy?

That’s because once your HSA reaches a certain designated balance, you may invest a portion of your HSA dollars in mutual funds.

So instead of just contributing tax-free dollars to your HSA, you can potentially grow those dollars tax-free, too. You pay no federal income taxes on your HSA investment earnings while they’re in your account.

If you’re thinking about investing, just be aware that any HSA dollars invested in mutual funds are not FDIC-insured, are not guaranteed by Optum Bank and may lose value.

Investing funds from your HSA is easy using the Optum Bank website. You can quickly set up an account, choose funds, and track performance …  all in one place. Here’s how to get started:

When your HSA balance meets the minimum investment threshold for your account type, usually two thousand one hundred dollars, you become eligible to invest. Select the My Investments tab on the toolbar or the Learn More button on the secure Optum Bank account site.

From the My Investments page, you can see how much you have in your HSA and how much is available to invest.

Before you enroll, you can learn more about the ins and outs of HSA investing … research the various mutual funds available … and use helpful tools like our Health Savings Checkup, which gives you an idea of how much money you’ll need for health care costs in retirement … based on personal information and your health conditions. The tool can help you decide how much of your HSA dollars to invest now for future health care costs.

Then, when you’re ready to enroll, setting up an HSA investment account is easy. You select the funds you want to invest in, indicating the percent you want allocated to each one.

You review your choices …then enter how much you want to transfer from your HSA to your investment account.

That’s how easy it is to take advantage of this valuable opportunity to grow your health care savings tax-free.

To make sure your HSA investments continue to keep pace with your goals, you have access to convenient investment account management tools.

The Dashboard gives you a snapshot of your entire HSA investment portfolio.

My Investment Transactions gives you a detailed look at all your transactions … both recent and historical.

Manage My Investments is where you can change your elections … transfer more funds from your HSA to your investment account … or rebalance your portfolio by changing the way money is allocated to your funds in order to stay on track with your investment goals.

In Performance, you can see how individual mutual funds are doing within your portfolio.

Then, when you need your investment funds to pay for qualified medical expenses, it’s easy to transfer dollars back to your HSA.

When it comes to planning for retirement, you have many investment options. An HSA can be an important part of your financial portfolio, now and in retirement. HSA investing offers you the chance to grow your savings tax-free, and later use those funds to pay for qualified medical expenses.