Do you know what you regularly want to invest your HSA funds in? Auto Invest works by automatically investing funds that exceed your target cash balance into your preferred investments. We’ll move funds from your HSA balance to a set of investments that you choose after you reach a target cash balance.
Your target cash balance is the amount of funds you want to keep available for qualified medical expenses. With Auto Invest activated, funds that exceed your target will be automatically invested into your selected investments every business day. You may have to reach an investment threshold to be eligible for Auto Invest. If you have an investment threshold, it is determined by your administrator.
How to activate Auto Invest
Here’s how to set up Auto Invest:
Select the Investments tab.
Select Set Up Auto Invest.
Enter your preferred amount for the target cash balance.
Select your preferred investments.
Allocate your investment percentages until they reach 100%
Select Activate Auto Invest.
Investment Threshold
Your investment might need to meet an investment threshold. Investment thresholds vary based on your employer or administrator, and you might not have a threshold.
Note:
The Auto Invest feature is possible with an investment account. To learn how to open an investment account, read “Start Investing Your HSA Funds.”
How to manage Auto Invest settings
You can customize your Auto Invest settings at any time after setting them up by removing or adding selected investments, updating investment percentages, or stopping Auto Invest entirely through the Manage feature.
You can have more than ten selected investments. If you hold more than ten investments, the ten assets you hold the most shares in will be pre-populated while setting up your auto-invest configuration.
How to remove an investment in Auto Invest
If you’d like to remove a specific or multiple specific investments without stopping Auto Invest entirely, follow these steps.
How to remove an investment in Auto Invest:
Select the Investments tab.
Select Manage in the Auto Invest section.
Remove a selected investment by selecting the delete icon.
Readjust remaining selected investments so that the investment percentages reach 100%
Select Save Changes.
How to adjust Auto Invest
Changing how much of your available investment funds are allocated to each of your selected investments is simple.
How to adjust your investment percentages in your Auto Invest:
Select the Investments tab.
Select Manage in the Auto Invest section.
Adjust your selected investments so that the investment percentages reach 100%
Select Save Changes.
How to stop Auto Invest
Select the Investments tab.
Select Manage in the Auto Invest section.
Select Stop Auto Invest.
Select Stop Auto Invest from the pop-up.
Please note: If stopped, your HSA funds will no longer be automatically invested, and your allocation settings will be cleared. You’ll have to re-input everything manually to start Auto Invest again.
Auto Invest 101
Target Cash Balance
Your target cash balance is the amount of funds you want to keep available for qualified medical expenses. With Auto Invest activated, funds that exceed your target will be automatically invested into your selected investments every business day.
You may have to reach a minimum investment threshold to be eligible for Auto Invest. This is determined by your administrator or employer.
Selected Investments
Whenever you exceed your target cash balance, those excess funds will be invested into the investment options you selected when setting up or managing your Auto Invest.
Let’s say you set your target cash balance at $2,000, and after your next pay period, your HSA has a balance of $2,500. At the start of the next market day, that excess $500 will be automatically invested in your selected investments based on the percentages you’ve allocated. You have three selected investments: X for 30%, Y for 50%, and Z for 20%. $150 would be allocated to X, $250 would be allocated to Y, and $100 would be allocated to Z.
Frequently Asked Questions
What happens if a selected investment is no longer supported?
Occasionally, one of your selected investments might be removed from the list of supported investments for Auto Invest. If this happens, Auto Invest will not work, and you will receive an email alerting you of the change, and you’ll have to follow the “How to remove an investment in Auto Invest” instructions above.
What happens if I sell an investment that’s selected for Auto Invest?
If you sell an investment that is in your selected investments for Auto Invest, you’ll receive confirmation that you’ve sold it. When you sell the investment, the Auto Invest feature doesn’t take the investment out of your selected investments automatically, so if you no longer want to invest in that stock, you must manually adjust your selected investments and remove it by following the “How to remove an investment in Auto Invest” instructions above.
Be sure to turn off auto invest after selling investments if you want access to those excess funds.