Investment Options
As account balances grow, many savers look for ways to invest their surplus funds. First Horizon makes available three ways to invest. Choose the method that best suits your investment style.
Mutual Fund Sweep Program
The mutual fund sweep program provides you with a fully integrated mutual fund investment option for your HSA*. Find out more.
Self-Directed via Trading Desk **
Making trades can be as easy as picking up the phone and calling a service representative at First Tennessee Brokerage. Find out more.
Self-Directed via Online Trading ***
Get fast, convenient access to your brokerage account with First Tennessee Brokerage Online.Find out more.
Frequently Asked Questions about Investment Options
Q. What are the three choices and how are they different?
- Mutual Fund Sweep Program - an account holder who prefers a more automatic approach may have excess funds systematically swept from the interest-bearing checking account into an HSA Mutual Fund Account.
- Self-Directed Brokerage via Online Trading - self-manage a portfolio of publicly traded stocks and mutual funds through an online account with First Tennessee Brokerage.
- Self-Directed Brokerage via a Trading Desk - self build and manage a portfolio of publicly traded stocks, bonds or mutual funds with help from First Tennessee Brokerage's trading desk.
Q. When can I begin to invest funds from my HSA?
- With the Mutual Fund Sweep Program, when the funds in the interest-bearing HSA checking account exceed $1,000 you may begin to have funds over that amount systematically "swept" to invest in the mutual funds you have chosen.
- If you prefer one of the brokerage account options you will need a total of $3,000 in the HSA checking account. Then you have the option to invest a minimum of $2,000 through a Brokerage Account with First Tennessee Brokerage, Inc.
Q. What is the cost for each option?
- There is a $2.50/month administration fee for the Mutual Fund Sweep Program, but no transaction fees. This administration fee is for the systematic sweep of funds from the interest-bearing HSA checking account into the mutual funds you have selected whenever the account balance exceeds $1,000. Please note this $2.50 monthly fee begins immediately after acceptance of your application and will apply each month even if the sweep feature is not activated during the month.
- Standard and customary brokerage fees apply to the Brokerage Accounts. These fees are described in the brokerage account opening information.
Q. What if there is not enough money in the HSA checking account to cover a medical expense?
- If you choose the Mutual Fund Sweep Program your available balance includes any funds in your HSA checking account and the value of any money market mutual fund shares held in the HSA Mutual Fund Account. Funds invested in other mutual funds shares will need to be exchanged for money market fund shares in order for those funds to be available to pay HSA checking account transactions. You can exchange shares of the mutual funds by logging on to your account through the www.firsthorizonmsaver.com website and providing these instructions.
- If you maintain a Brokerage Account through First Tennessee Brokerage, Inc, you will need to sell a sufficient amount of securities from your account and instruct that the proceeds be transferred to your HSA checking account where they can be accessed by using your First Horizon HSA debit card.
Q. How do I open an Investment Account?
There are two ways to sign up for the Mutual Fund Sweep Program:
1. Call First Horizon Msaver Customer Support at 866-889-8583 and an information packet will be mailed out to you.
2. (a) Read the Goldman Sachs Trust Financial Square Money Market Mutual Fund Prospectus. All of the funds are swept into the Money Market Mutual Fund until you specify other mutual funds after you sign up.
(b) Print and sign the Sweep Agreement and Investment Instructions and mail or fax it to:
P.O. Box 26106
Shawnee Mission, KS 66225
Fax: 913-451-2079
Investments
| Not a deposit | Not Guaranteed By the Bank Or Its Affiliates | Not FDIC Insured |
| Not Insured By Any Federal Government Agency | May Go Down In Value |
* The mutual fund sweep program is provided by First Horizon Bank, a division of First Tennessee Bank National Association.
** Brokerage services provided by First Tennessee Brokerage, Inc. (FTBR). FTBR is a subsidiary of First Tennessee Bank National Association and its division, First Horizon Bank (FTB). First Horizon Msaver, Inc. is a subsidiary of FTB.
*** Online Trading does not permit direct access to securities markets. All orders are executed through FTBR. System response and account access times vary due to a variety of factors, including trading volumes, market conditions and system performance.
Mutual fund investments in which you invest through these features may incur management fees, administrative services fees and fees for other services. Information regarding these charges and fees are described in the mutual fund prospectus.
2009 Contribution Limits
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