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Can I have more than one institution for my HSA?
Old 05-22-2016, 10:28 AM   #1
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Can I have more than one institution for my HSA?

As long as I don't exceed the maximum allowed annual contributions, can I deposit HSA funds at two different banks or administrators? I have my reasons for wanting that.

TIA.
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Old 05-22-2016, 11:11 AM   #2
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As long as I don't exceed the maximum allowed annual contributions, can I deposit HSA funds at two different banks or administrators? I have my reasons for wanting that.

TIA.
Yes, you can.
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Old 05-25-2016, 08:28 AM   #3
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As long as I don't exceed the maximum allowed annual contributions, can I deposit HSA funds at two different banks or administrators? I have my reasons for wanting that.

TIA.
As Aza said, yes, you can. I'm curious now as to the reasons for wanting to have more than one.
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Old 05-25-2016, 09:08 AM   #4
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Originally Posted by easysurfer View Post
As Aza said, yes, you can. I'm curious now as to the reasons for wanting to have more than one.
Maybe one is better for withdrawals, and another for savings? Still, those fees can hurt on small balances.
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Old 05-25-2016, 07:21 PM   #5
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Opened one - but it doesn't have investment options. Almost opened one at a bank that charges $18 per person to open an HSA and $35 to close each account. Looking at other options mentioned in these forums.

Thanks for replies.
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Old 05-25-2016, 07:32 PM   #6
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Mine is fee free if you have a 5 grand balance. Just sent in 4 grand as the balance got close. Not a new account, it was the one my employer set up for the whole Co when we went to a high deductible HC plan.
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