Health Savings Account (HSA) Investment Sweep
The HSA Investment Sweep* is designed to offer additional investment options for pre-tax contributions** made to your HSA by offering Vanguard investment fund options.
Investment Fund Options:
Vanguard is one of the world’s largest investment management companies, serving individual investors, institutions, employer-sponsored retirement plans, and financial professionals. Should you choose the HSA Investment Sweep, you will have the opportunity to select from a variety of Vanguard Funds.
How It Works:
- Open a Macatawa Bank HSA online.
- Enroll in the optional HSA Investment Sweep online.
- Investment of your contributions is self-directed from a pre-selected menu of investment funds options.
- Utilize the five Model Investment Portfolios that we've created to help you diversify your investments and meet your objectives without having to be an investment professional.
- Your contributions will continue to be deposited directly to your HSA. Your HSA will be linked by the Bank to your selected investment fund(s).
- When the available balance of your HSA exceeds $2,500, excess funds will automatically be swept in increments of $100 to your selected investment fund(s).
- If the available balance of your HSA falls below $2,500, any available funds will automatically be swept in increments of $100 from your investment funds(s) back to your HSA.
- You will receive two account statements, a monthly HSA statement and a quarterly HSA Investment Sweep statement.
- Your HSA Investment Sweep can be viewed online where you have ready access to the following information:
- Account Balances
- Conform to Target
- Investment Elections
- Investment Profiles
- Investment Returns
- Rate of Return
- Rebalance of Portfolio
- Transfer Funds
- Transaction History
- Web Requests
Have More Questions? We are happy to help. Give us a call at (877) 820-2265, email us at HSA@macatawabank.com
or stop by any of our convenient locations.
*Your HSA is insured by the FDIC; however, funds in your HSA Investment Sweep: are not FDIC insured, are not guaranteed by the Bank, are not a deposit and are not insured by any Federal Government Agency and may lose value.
** Please consult your tax advisor.