HSA Investment FAQ

Selecting Investments and Fund Information

1. What investment options are available through my HSA investment account?
You may review the investment options available to you through your HSA investment account on the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard.

2. Can you help me select the mutual funds I should invest in?
No. Your HSA investment account is self-directed. This means you select the investments that are right for you. To help you make your selections, educational resources, fund information, and tools are available through the Tools and Education page and the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard.

You may also review the mutual fund's prospectuses and fact sheets for important information regarding the objectives and risks associated with investing in the mutual fund. If you still have questions, you may wish to speak with a personal investment advisor.

3. Where can I find the prospectuses for the mutual funds available through my HSA investment account?
Links to each fund’s prospectus, fact sheet, and Morningstar® page are available under Resource Links on the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard. You may also obtain a prospectus directly from the mutual fund company through the fund's website.

4. What tools and educational resources are available to me?
Through your HSA investment account, you have access to leading research and decision support tools as well as educational resources to help you make informed decisions. These are available to you through the Tools and Education page.

5. Is money invested through my HSA investment account insured by the NCUA?
No. Mutual funds are not insured by the NCUA, nor are they guaranteed by your HSA provider. Mutual funds may lose value. It is your responsibility to understand the risks of investing your HSA dollars. If you still have questions, you may wish to work with a personal investment advisor.

6. What minimum investment amounts apply to the mutual funds available through my HSA investment account?
There are no minimum investment amounts for purchases of mutual funds through your HSA investment account.

7. Where can I find the expense ratios for the mutual funds available through my HSA investment account?
The Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard lists the gross expense ratio for each fund available through your HSA investment account. For additional information concerning the expense ratio and any other fees that may apply, you may review the fund’s prospectus. Links to the prospectus for each fund can be found under Resource Links on the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard.

8. Do any commissions or loads apply to the mutual funds available through my HSA investment account?
No. The mutual funds available through your HSA investment account are load-waived or no-load funds.

9. Do any additional fees apply to transactions requested through my HSA investment account?
Your HSA investment account does not charge a fee for transactions you request through your HSA investment account.

To curb market timing practices, certain funds may impose short term redemption fees or trading blocks. For information on whether a fund assesses short term redemption fees or blocks, as well as the specifics concerning those policies, please reference the fund’s prospectus. Links to the prospectus for each fund can be found under Resource Links on the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard.

10. How will I know if the funds I choose have a redemption or frequent trading policy?
If you see an alert icon next to a fund when you are realigning your account or transferring between investments, hover over the icon to see the trading policy that applies to that fund. See the example below:

For complete information concerning redemption or frequent trading policies, please refer to the fund’s prospectus. Links to the prospectus for each fund can be found under Resource Links on the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard

Reviewing and Managing Your HSA Investments

11. How do I move money from my HSA to my HSA investment account?
Requests to move money from your HSA to your HSA investment account are made through Lake Michigan Credit Union.

12. How often is my HSA investment account balance updated?
Your balance is updated on a nightly basis each day the New York Stock Exchange is open.

13. How often can I make changes to my HSA investments?
You may make changes to your HSA investment account as often as you choose, but please be aware, some funds may charge short-term redemption fees or institute trading blocks to prevent market-timing practices.

For complete information concerning redemption or frequent trading policies please refer to the fund’s prospectus. Links to the prospectus for each fund can be found under Resource Links on the Fund Performance Dashboard. The Fund Performance Dashboard provides historical performance information, the fund category, and the gross expense ratio for each fund. For more in-depth information concerning the funds offered, you may also view each fund's prospectus, fact sheet, and Morningstar® page by using the Resource Links in the Fund Performance Dashboard.

14. Where can I review recent or pending activity to my account?
Your most recent account activity is summarized on the Account Summary page:

For a summary of all transactions between a given date range, use the Transaction History page in the Activity menu.

To review and/or cancel activity you have requested but which has not yet been processed, use the Pending Activity page in the Activity menu.

15. Where can I find statements for my HSA investment account?
In order to access your HSA investment account statements, click on Quarterly Statements in the Activity menu.

You may also create a custom period statement at any time by clicking on Statements On Demand in the Activity menu.

16. What are future investment elections, how do I set them, and why are they important?
Future investment elections determine how money moved to your HSA investment account from your HSA is split between the mutual fund options available to you. Once you set your investment elections, new moneytransferred to your HSA investment account will be automatically invested based upon the funds and percentages you have pre-selected. If you do not have future investment elections set prior to money being moved to your HSA investment account, that money will be placed in the money market fund and will remain there until you realign your account or transfer that money to another fund or funds. Prior to setting your investment elections you may wish to consult with a financial professional for help creating an asset allocation that works for you.

To set your future investment elections, click on Set Future Investment Elections under the Invest menu.

Future investment elections only affect the way new money moved to your HSA investment account is allocated. To change the allocation of your existing balance, select Realign Investment Percentages or Transfer Between Investments under the Invest -> Manage Portfolio menu.

17. What is realignment, how do I request it, and why does it matter?
Realignment adjusts the way money held in your HSA investment account is allocated between funds, based on the percentages you select. When you realign your HSA investment account, you are requesting trades that move money from your current mutual fund holdings into new funds you choose, at the percentages you choose. Prior to realigning your account, you may wish to consult with a financial professional for help creating an asset allocation that works for you.

To realign your account, click on Realign Investment Percentages under the Invest -> Manage Portfolio menu.

To change the way new money moved to your HSA investment account is allocated, click on Set Future Investment Elections under the Invest menu. To move money directly between individual investments, click on Transfer Between Investments under the Invest -> Manage Portfolio menu.

18. How do I transfer money between investments in my account?
If you would like to move money directly between funds in your account:

1. Click on Transfer Between Investments under the Invest -> Manage Portfolio menu.
2. On the Select Transfer Type page, select whether to Transfer Using Dollars or Transfer Using Percentages. Note: If you wish to transfer more than 90% of the balance out of a fund, it is recommended to use the Transfer Using Percentages option.
3. On the Select Transfer Source(s) page, pick which fund, or funds, to move dollars from (i.e. $150 from Fund A, $200 from Fund B, etc.) or which fund, or funds, to move percentages from (i.e. 100% of your dollars in Fund A, 50% from Fund B, etc.) and click "Continue".
4. On the Select Transfer Destinations(s) page, pick which fund, or funds, to move dollars to (i.e. $150 to Fund C, $200 to Fund D, etc.) or which fund, or funds, to move percentages from (i.e. 100% of your dollars to Fund C, 50% to Fund B, etc.) and click "Continue".
5. On the Review Your Transfer Page, review your request and click "Complete Transfer" to complete your request.

19. How do I move money from my HSA investment account back to my HSA?
In order to move money from your HSA investment account back to your HSA:

1. Click on Move Money from the Invest menu.
2. Enter the dollar amount you would like to transfer from your HSA investment account back to your HSA.
3. Use the 'Submit Request' button to complete your request.
4. Your HSA investments will be liquidated on a pro-rata basis based upon your balance by fund to generate the cash to complete the request.

Note: Requests resulting in the liquidation of 90% or more of a mutual fund will be processed based upon the number of units calculated using the previous market day’s NAV.

20. How do I close my HSA investment account?
If you would like to close your HSA investment account, please contact Lake Michigan Credit Union.

Managing Your Account

21. Is there a fee for having an HSA investment account?
Each year your account will be assessed a $30 fee which will be pulled from your HSA investment account. Your annual fee is assessed on, or about, the first business day of the month, following the month of your first deposit into your investment account. The fee is deducted pro-rata according to your current investment allocations.

22. How do I update my email address?
To update the email address for your account:

1. Click on Account in the upper righthand corner of the HSA investment portal.
2. Click on the Update Email Address dropdown.
3. Enter your new email address in the New Email Address box.
4. Click on “Update Email Address”.