Optum HSA mutual fund choices

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
exigent
Posts: 740
Joined: Fri May 07, 2010 8:49 am

Optum HSA mutual fund choices

Post by exigent » Thu Dec 28, 2017 10:32 am

In reading through other posts, I've run across several people talking about there being reasonable HSA mutual fund choices at Optum. My employer provides an HSA via Optum but, when I look at the available investment choices, they are nothing like what others are listing, or what I can find online. The online brochure (from optumbank.com) lists a number of good Vanguard funds, some Schwab target-date funds, etc. But when I log into my account and check the investment options, it only shows funds from Nuveen, Pimco, Prudential, Aberdeen, American, etc.

I'm not sure what's going on. It seems that my employer is restricting us to a different set of funds. This, perhaps, relates to the history of our HSA accounts. They used to be serviced by US Bank, but transitioned to Optum awhile back. I don't recall the specific investment options back at US Bank, other than the fact that they were terrible. Maybe those old fund choices followed along through the transition, instead of giving us access to Optum's standard investment options?

Another curiosity is that we login via a subdomain at optum.com, as opposed to going to optumbank.com, but they appear (?) to be the same company. Can anyone with an Optum HSA (ideally, an employer-sponsored account) shed any light on this? Curious to hear what others are seeing.

Thanks, exigent

Nuurd
Posts: 5
Joined: Tue Jan 24, 2017 10:43 pm

Re: Optum HSA mutual fund choices

Post by Nuurd » Thu Dec 28, 2017 11:13 am

I have an Optum HSA sponsored by a megacorp.

I don’t log on with a sub domain. I do have access to Vanguard funds and recently Schwab target dates.

My account has always been with Optum. Not sure of history before that.

I remember reading that accounts transitioned in from Wells Fargo had more limited investment options.

exigent
Posts: 740
Joined: Fri May 07, 2010 8:49 am

Re: Optum HSA mutual fund choices

Post by exigent » Thu Dec 28, 2017 11:30 am

Nuurd wrote:
Thu Dec 28, 2017 11:13 am
I remember reading that accounts transitioned in from Wells Fargo had more limited investment options.
Thanks. It's possible that they maintain the legacy investing options for continuity (for those that were already investing), but they are sooo much worse than what's available in a "standard" Optum account.

Post Reply