HSA Frequently Asked Questions (FAQ)

H. Investment Options

1. How do I open an investment account?

An investment account can be opened when you have a balance of $1,000 in your HSA cash account. Once opened an array of investment options are available.

  • All initial investing and any trades can be done online at any time.
  • The earnings on your HSA investments, if any, are also tax-free.
  • You must maintain a balance of $1,000 or more in your cash account. If the balance falls below $1,000, some investments will automatically be sold to bring your cash account balance back up.
  • An investment in a mutual fund is not insured or guaranteed by the FDIC or any other government agency. It is possible to lose money by investing. Investors should carefully consider the investment objectives, risks, charges and expenses of the fund. Please carefully read the prospectus, which contains this and other important information before you invest money.
  • To get more information about the Investment Services:
    1. Go to the Nyhart website (iu.nyhart.com), login and click on “View my Balances”
    2. On the Welcome screen, click on the “Manage Investments” button in the left hand column.
    3. On the Accounts/Investment Summary page, select “Manage Investments” on the right in order to create an investment account or to change your investment selections.

For investment advice and assistance you can contact a Nyhart registered representative at 800-284-8412.

See the HSA Investment Options

See the HSA Fee Schedule

2. When can I begin making investments?

You must have an HSA Cash Account balance of at least $1,000 to open an HSA Investment Account.

3. Are there any fees associated with the Investment Account?

There is a quarterly custodial management fee of 25 Basis Points per annum investment in mutual funds.

Mutual fund investment selections are offered without front-end or back-end loads, however some funds have fees for early redemption. There is a $10.00 transaction fee per call for mutual fund trades and Automatic Investing requests that you place with a registered representative over the telephone. There are no fees for fund trades done online.

See the HSA Fee Schedule

4. What investment options are available?

Choose from a wide range of mutual funds. Your investment choices include a variety of funds - asset allocation, fixed income and equity mutual funds – all supporting a range of investment objectives and time horizons. You can review the full list of investment choices online or speak with a registered investment representative by contacting Nyhart at 800-284-8412.

See the HSA Investment Options

5. How do I invest in mutual funds?

You can purchase, exchange and redeem mutual funds on the Nyhart HSA Member website (iu.nyhart.com). There is no trading fee when done online. You can also contact Nyhart's dedicated registered representatives to place a trade by calling 800-284-8412. However, a fee will apply for trades placed by phone.  

6. How long does it take to transfer funds or make a trade?

All transfers and trades requested and accepted before 3:30 PM Eastern time during normal trading days will be processed at the close of that day. The transfers will be posted to your account the next business day.

7. Can I make deposits directly into my HSA Investment Account?

No, you can only make deposits to the HSA Cash Account. Once funds are available in the HSA Cash Account, you can transfer funds to the Investment Account on the Nyhart HSA Member Website.

8. Can funds in my HSA Investment Account be used to pay for eligible health expenses?

If you want to use HSA Investment Account assets to pay for health expenses, you must first redeem mutual funds and transfer the required balance to the HSA Cash Account. HSA Investment Account funds cannot be accessed using a debit card.

9. How often will statements and transaction confirmations be provided?

You will receive a monthly on-line statement for your HSA Investment Account. If you would like paper statements, you may order them through Nyhart for a monthly fee. When there is transaction activity, you will also receive a trade confirmation.

10. How do I manage my HSA investment account balances?

You can manage your investment account on the Nyhart HSA Member Website (iu.nyhart.com) which provides access to investment balances and investment activity. You can also contact one of Nyhart’s registered representatives by calling 800-284-8412.

11. Are my investments protected against loss?

No, an investment in a mutual fund is not insured or guaranteed by the FDIC or any other government agency. It is possible to lose money by investing. Investors should carefully consider the investment objectives, risks, charges and expenses of the fund. Please carefully read the prospectus, which contains this and other important information before you invest money.

For investment advice and assistance you can contact a Nyhart registered representative at 800-284-8412.

See the HSA Investment Options

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