Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Need a new HSA Administrator
Old 03-13-2013, 11:13 AM   #1
Recycles dryer sheets
 
Join Date: Oct 2002
Posts: 80
Need a new HSA Administrator

Anyone willing to make a recommendation on an HSA Administrator?

We've been using Wells Fargo and are ready to move on. We've not been pleased with them, and their expenses are very high. Our local BC/BS recommends Health Equity, but I know nothing about them.

Any comments/thoughts are appreciated.
__________________

__________________
moguls is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-13-2013, 11:51 AM   #2
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,482
A couple of options mentioned here in the past are HSA Administrators Health Savings Account - HSA Administrators and HSA Bank (which I use) Navigate to a Health Savings Account - Accountholders - HSA Bank
A search of past threads should turn up other recommendations.
__________________

__________________
MichaelB is online now   Reply With Quote
Old 03-13-2013, 11:54 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,450
We were with HealthEquity but are in the process of changing to HSA Bank.

HealthEquity was my former employer's administrator and we stayed with them but I have found the investment options lacking so am switching to HSA Bank which have access to Vanguard funds.

Other than the investment options through HealthEquity, which I think were a function of my former employer and not HealthEquity, we would be staying as HealthEquity's service was fine.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is online now   Reply With Quote
Old 03-13-2013, 12:38 PM   #4
Confused about dryer sheets
 
Join Date: Mar 2013
Posts: 8
I agree with the great service that HealthEquity provides. I was my former employer's administrator and moved the company to HealthEquity 7 years ago. Love their website, easy to use, dynamic and their phone customer service is fantastic.
__________________
lovingAZ is offline   Reply With Quote
Old 03-13-2013, 12:59 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,897
I use Patelco. It is $2 a month. You do the record keeping, they provide the year end statements.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 03-13-2013, 11:08 PM   #6
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 2,091
Quote:
Originally Posted by MichaelB View Post
+2 My HSA is with HSA Bank, but only because AFAIK, they are the only ones that offer a true investment account link (@ TD Ameritrade), where you can buy almost anything that a retirement account will let you buy. Total monthly fees for this setup are about $5.25 (?), but definitely worth it given the totally tax-free savings the HSA provides.
__________________
Dryer sheets Schmyer sheets
MooreBonds is offline   Reply With Quote
Old 03-14-2013, 02:16 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 1,152
Quote:
Originally Posted by MooreBonds View Post
+2 My HSA is with HSA Bank, but only because AFAIK, they are the only ones that offer a true investment account link (@ TD Ameritrade), where you can buy almost anything that a retirement account will let you buy. Total monthly fees for this setup are about $5.25 (?), but definitely worth it given the totally tax-free savings the HSA provides.
+3. It really does work well at $5.50 per month. I just keep enough in the HSABank account to pay the fees and the rest is in the TDAmeritradeRetirement brokerage account. Moving money between them is very easy. Also, TDAmeritradeRetirement has a deal where trading in most Vanguard ETFs is free if you hold the ETF for 30 days or more.

After you have the brokerage account set up, you need to explore the menus while logged into your brokerage account and press a button to actually opt in to the free ETF trading thing -- until you do that it something like $9.95 per trade. I just assumed it was the default but it is not, surprisingly.
__________________
kramer is offline   Reply With Quote
Old 03-14-2013, 07:00 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,897
The Patelco HSA has a broad range of investments for an additional $7 a month. I use a Vanguard fund.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 03-18-2013, 10:45 AM   #9
Recycles dryer sheets
Felix Mulier's Avatar
 
Join Date: Feb 2013
Posts: 99
Quote:
Originally Posted by MichaelB View Post
A couple of options mentioned here in the past are HSA Administrators Health Savings Account - HSA Administrators and HSA Bank.
I set up our HSA with HSA Administrators about a year ago. I have trouble recommending them. This is my opinion based only on my experience - YMMV.

They switched administrator banks from Fulton Bank to HSA Bank and it was the most frustrating experience (from a customer service perspective) that I have ever had (and that's saying something). My account(s) got all messed up in the transition and it was a nightmare to untangle. Their communications to account holders were confusing, at times outright incorrect, and had to be explained in additional communications.

HSA Administrators is (or at least was at the time) a very small outfit, which is not a bad thing in itself, but there were literally only a couple of people who knew seemed to know what they were doing. Their website is, IMHO, very difficult to use, not intuitive. I'm mollified for now, but intend to look elsewhere when HSA moves up higher on my list of priorities.
__________________
I generally avoid temptation unless I can't resist it.

Felix

Felix Mulier is offline   Reply With Quote
Old 03-18-2013, 04:31 PM   #10
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,482
Quote:
Originally Posted by Felix Mulier View Post
I set up our HSA with HSA Administrators about a year ago. I have trouble recommending them. This is my opinion based only on my experience - YMMV.

They switched administrator banks from Fulton Bank to HSA Bank and it was the most frustrating experience (from a customer service perspective) that I have ever had (and that's saying something). My account(s) got all messed up in the transition and it was a nightmare to untangle. Their communications to account holders were confusing, at times outright incorrect, and had to be explained in additional communications.

HSA Administrators is (or at least was at the time) a very small outfit, which is not a bad thing in itself, but there were literally only a couple of people who knew seemed to know what they were doing. Their website is, IMHO, very difficult to use, not intuitive. I'm mollified for now, but intend to look elsewhere when HSA moves up higher on my list of priorities.
No problem. HSA Bank was not my first choice either. Before them, from '06 - '09, I used Shawnee / Canopy. That ended when the Canopy execs we found out to have stolen all the deposits. They are in jail now (at least the ones that are still alive), and someday we may get our money back. FDIC does not cover theft.
__________________
MichaelB is online now   Reply With Quote
Old 03-18-2013, 05:00 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,896
Quote:
Originally Posted by Felix Mulier View Post
I set up our HSA with HSA Administrators about a year ago. I have trouble recommending them. This is my opinion based only on my experience - YMMV.

They switched administrator banks from Fulton Bank to HSA Bank and it was the most frustrating experience (from a customer service perspective) that I have ever had (and that's saying something). My account(s) got all messed up in the transition and it was a nightmare to untangle. Their communications to account holders were confusing, at times outright incorrect, and had to be explained in additional communications.

HSA Administrators is (or at least was at the time) a very small outfit, which is not a bad thing in itself, but there were literally only a couple of people who knew seemed to know what they were doing. Their website is, IMHO, very difficult to use, not intuitive. I'm mollified for now, but intend to look elsewhere when HSA moves up higher on my list of priorities.
+1 about HSA Administrators transition from Fulton Bank to HSA Bank being confusing.

I stick with them because of the first dollar investing in Vanguard Funds. I set up but don't even access the HSA Bank account as I just do my contributions by paper mail, and do my reimbursement requests using the old HSA Administrator account number. The only real impact for me is I make my check out to HSA Bank instead of Fulton Bank and use the new contribution form instead of the old contribution slips.
__________________

__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 02:58 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.