Frequently asked questions (FAQs) about investing

The Optum Bank investment threshold is $1,000. This threshold ensures you will have cash ready for qualified medical expenses. You can choose to invest any amount over this threshold, in $100 increments, as long as you maintain a minimum of $1,000 in your HSA cash account. 

A Registered Investment Advisor (RIA) has chosen the fund selection used by Optum Bank, along with advice and approval from the State of Tennessee Department of Treasury. The selected funds span the risk spectrum from conservative to aggressive. Funds are reviewed quarterly and adjustments are made based on investment policy criteria. Professional management fees are also considered and the fees for the selected funds typically rank average or below average within their fund group.

Periodically, based on the review of the performance of the fund selection by the Registered Investment Advisor (RIA), new funds may be added to the fund lineup or removed according to the RIA’s investment policy and the State of Tennessee Treasury Department.

A formal legal document that is required by and filed with the Securities and Exchange Commission. A prospectus provides details about an investment offering for sale to the public. A prospectus should contain the facts that an investor needs to make an informed investment decision. A fund prospectus contains details on its objectives, investment strategies, risks, performance, distribution policy, fees and expenses and fund management. You can use a prospectus to make better decisions about selecting funds.

Sign in to your account, and navigate to your fund list. Click on the fund you want the prospectus for.

You can use the information in each fund’s prospectus to help you decide which funds are right for you. 

It is always important to discuss investing your HSA with your financial planner. Your financial advisor will also be able to provide you with information on how much is right for you to keep in your cash account and how much to place in investments. Neither Optum nor the State of Tennessee Group Insurance Program can offer investment advice.

These agreements are the agreements that govern your investment account with us. You need to agree to these documents in order to enroll in our investment account.

You can update your investment options once per trading day.

Transfers that are entered before 4 p.m. ET on a trading day will be traded the same day and settled/posted on the next trading day.

A trading day is the time span that a particular stock exchange is open. Trading days never take place on weekends. There are several other special circumstances which would lead to a shortened trading day, or no trading day at all, such as on holidays.

To view pending investment transactions, sign in to your account.

It is the minimum balance in your HSA that must be reached and maintained before you can begin investing or make additional investment purchases.

You can continue to use the money in your HSA however; you won’t be able to transfer any new funds into your investments until your HSA balance exceeds the investment minimum balance again.

Sign in to your account to do a one-time transfer from your investment balance back into your HSA.

One transfer (or sell) is allowed from each mutual fund for any given trading day. This limit includes transfer between funds.

One transfer is allowed from each mutual fund for any given trading day. This limit includes transferring money back into your HSA.

There are no trading fees charged for investments associated with your HSA while you are enrolled in CDHP or the Local CDHP offered by the State Group Insurance Program. Other fees and expenses applicable to continued investments are described in each mutual fund’s current prospectus.

The State is paying your monthly account administrative fee, so if you disenroll from the CDHP or Local CDHP or leave employment, you will be responsible for the monthly administrative fee.