Golden Rule Insurance Company has expanded the investment menu for holders of its health savings accounts.
Golden Rule, Indianapolis, a unit of UnitedHealth Group Inc., Minnetonka, Minn., will be offering HSA holders a choice of 8 no-load mutual funds from another UnitedHealth unit, Exante Bank Inc., Salt Lake City, Utah.
Roughly 41% of Golden Rule’s customers have HSAs, and those customers have accumulated an average balance of about $2,400 each, with a total HSA balance of $170 million, according to Golden Rule.
To invest in the mutual funds, an HSA holder must accumulate an HSA balance of at least $2,000.
Exante pays 4% to 5% in annual interest on the first $2,000 in HSA account value and on any other cash held outside of the mutual funds, Golden Rule says.