As set forth under the Custodial Agreement and Disclosure Agreement
between yourself and Healthcare Bank as Custodian of your HSA
(“Agreement”), you may make contributions to your HSA. Based on the
value of your HSA and certain threshold and trigger amounts defined
under the Agreement, funds may be moved between your Cash Account and
Investment Account. These accounts may be either a deposit account at
Custodian or an Investment Account at an outside investment company.
Funds that are in a deposit account at Custodian will be insured by
the FDIC to the extent of the deposit insurance limits. In the event of
the failure of Custodian, you will be a secured creditor of Custodian to
the extent of the FDIC deposit insurance limits. If these funds are in
excess of the FDIC deposit insurance limits, you will be an unsecured
creditor with respect to the excess.
Investment funds that are held at an outside investment company are
not considered a deposit account of Custodian and are not FDIC insured.
In the event of the failure of Custodian, these funds will remain your
separate funds at the outside investment company and are subject to the
provisions of the outside investment company.
The FDIC requires all financial institutions that have sweep accounts
to notify Accountholders of the legal effect of their accounts should
the financial institution fail and be taken over by the FDIC.
You agree to receive future notices of any updates to the Sweep
Disclosure Notification at www.healthcarebank.com, and to review the
Sweep Disclosure Notification no less frequently than annually.