HSA Investment Platform

A Health Savings Account (HSA) is already a great tax-advantaged way to save for medical expenses. We offer an HSA investment platform that allows you to do even more with your HSA dollars. Using this platform, you’re able to invest a portion of your HSA balance in mutual funds. To participate, you must be enrolled in an HSA through Pinnacle Bank and have a minimum of $1,000 to invest. You must still maintain the minimum balance required in your Pinnacle Bank HSA Account in order to avoid any applicable service charge.

What is an HSA investment platform?

An HSA investment platform provides a convenient way to grow your HSA dollars by investing in a variety of widely recognized mutual funds covering a spectrum of asset classes. This gives you the potential to increase your HSA balance and save for future health care expenses. The funds in your HSA investment account are self-directed investments, but are still considered part of your HSA for tax purposes.

Investing your HSA dollars is different from traditional retirement investments because you can transfer money from your investment account to your base HSA balance at any time to pay for health care needs for you and your dependents.

Benefits of investing your HSA dollars

• Maximize your tax savings — Because an HSA is a tax-advantaged account, the amount you contribute and any interest you accrue on the balance is not included in your taxable income. In addition, you are not taxed or penalized if you withdraw the funds at any time to pay for eligible health care expenses.
• Earn more on your unused dollars — Investing your HSA dollars allows you to select the funds that best fit your financial style and that may deliver the greatest potential return on your account balance.
• Save for health care in retirement —The money in your HSA belongs to you, no matter what. Whether you change jobs, change health plans or retire, your HSA and your HSA investment account stay with you. Use the money to pay for health care for you and your family now, or save it to pay for expenses in retirement.
• Take control of your money and your investment activity —With this self-directed HSA investment platform, you can have complete control over how much money you invest, when you invest and in what funds you invest. If investing is new to you, you can use the built-in planning and management tools available.

What to expect after you enroll:

• If you currently have a Pinnacle Bank HSA Account with a balance of at least $1,000, you are eligible to enroll in the HSA Investment Platform by completing the enrollment form using the link below.
• Within two business days you will receive an email with instructions for establishing your password.
• Once you log in to your HSA Investment account, you will be able to establish your future investment elections.
• You can initiate a transfer from your HSA to your Investment account by visiting the Move Money menu option in your HSA investment portal.
• Once you make a transfer from your HSA to your Investment account, the funds can take 3-4 days to post to your account.  Remember to maintain at least the minimum balance in your HSA Account to avoid any applicable service charge.
• Should you choose to transfer money from your Investment account back to your HSA, the funds can take 2-3 days to be received into your checking account. Liquidations from your investment account for distributions will be liquidated proportionally based on your current investment alignments.
• A $30.00 fee will be deducted from your HSA Investment Account at opening and then assessed annually thereafter.

Neither Pinnacle Bank, nor Devenir Group, LLC, the third party, can provide investment advice to you on this program. Once you transfer funds from your HSA to the investment account, these dollars are no longer covered by applicable FDIC insurance. We recommend you speak with a licensed investment advisor or consult the prospectus should you have questions about any investment. Carefully weigh the advantages and disadvantages of investing your HSA funds before doing so. Investment products are not federally-insured; may lose value and are not a deposit account. Investment accounts are not obligations of the bank and are not guaranteed.