Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-17-2016, 07:23 AM   #101
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Gone4Good's Avatar
 
Join Date: Sep 2005
Posts: 5,383
Quote:
Originally Posted by easysurfer View Post
I've pretty much given up on making sense out of the statements .
Their website and their statements are so very disjointed.
Yup. I'm at the point of transferring my HSA somewhere else. Admin is awful for so many reasons. And those quarterly fees are starting to feel like rubbing salt.
__________________

__________________
Retired early, traveling perpetually.
Gone4Good 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 04-17-2016, 08:05 AM   #102
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,743
Quote:
Originally Posted by Gone4Good View Post
Yup. I'm at the point of transferring my HSA somewhere else. Admin is awful for so many reasons. And those quarterly fees are starting to feel like rubbing salt.
Please let us know if you find a good alternative - something with Vanguard funds would be nice.
__________________

__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 04-18-2016, 08:58 AM   #103
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,756
Quote:
Originally Posted by travelover View Post
Please let us know if you find a good alternative - something with Vanguard funds would be nice.
Does anyone here have a HSA with The HSA Authority?

http://www.thehsaauthority.com

I wonder how friendly is their online access (can't be any worse than HSA Administrators).

I'm almost tempted to jump ship away from HSA Administrators (HSA Authority does have several Vanguard funds, among others, to choose from).

The drawback is HSA Authority requires a checking account with them (not sure if one has to keep a $1000 balance with them or not).

For now, I'll probably stay with HSA Administrators and keep my strategy of avoiding accessing them online as much as possible , but it is good to consider options.
__________________
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 offline   Reply With Quote
Old 04-18-2016, 09:10 AM   #104
Thinks s/he gets paid by the post
Gotadimple's Avatar
 
Join Date: Feb 2007
Posts: 1,717
HSA Bank. Website is OK, low minimum on savings to avoid maintenance fee. TD Ameritrade for larger balances you might want to invest.
__________________
Only got A dimple, would have preferred 2!
Gotadimple is offline   Reply With Quote
Old 04-18-2016, 09:33 AM   #105
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Second City Land
Posts: 23,984
Quote:
Originally Posted by Gotadimple View Post
HSA Bank. Website is OK, low minimum on savings to avoid maintenance fee. TD Ameritrade for larger balances you might want to invest.
Same here
Quote:
Originally Posted by easysurfer View Post
I wonder how friendly is their online access (can't be any worse than HSA Administrators).
Experience has taught me never to say that, because it can always get / be worse.
__________________
MichaelB is offline   Reply With Quote
Old 04-18-2016, 10:02 AM   #106
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,756
Quote:
Originally Posted by MichaelB View Post
Same here

Experience has taught me never to say that, because it can always get / be worse.
True. Shouldn't have said that .

As I think further, I'll probably stick with HSA Administrators because if pattern holds, maybe (just me thinking aloud) they will have a new custodian again in a year or two who happens to have a decent online interface and understandable statements .
__________________
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 offline   Reply With Quote
Old 04-18-2016, 10:54 AM   #107
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Second City Land
Posts: 23,984
Quote:
Originally Posted by easysurfer View Post
True. Shouldn't have said that .

As I think further, I'll probably stick with HSA Administrators because if pattern holds, maybe (just me thinking aloud) they will have a new custodian again in a year or two who happens to have a decent online interface and understandable statements .
If you're not happy, waiting will probably just lead to more frustration. Go ahead and change. A financial institution has to process the transactions correctly and provide statements that are timely. Otherwise how does one monitor the account? Consumer financial protection and law is centered around the individual as the primary monitor of activity.

I think we are used to the robust systems and low cost service we get from our banks and brokers, and expect something similar from the HSA account providers, and so far none seem to fit the bill. HSA Bank systems are adequate, but even with them I regularly look for alternatives.
__________________
MichaelB is offline   Reply With Quote
Old 04-18-2016, 11:21 AM   #108
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,756
Quote:
Originally Posted by MichaelB View Post
If you're not happy, waiting will probably just lead to more frustration. Go ahead and change. A financial institution has to process the transactions correctly and provide statements that are timely. Otherwise how does one monitor the account? Consumer financial protection and law is centered around the individual as the primary monitor of activity.

I think we are used to the robust systems and low cost service we get from our banks and brokers, and expect something similar from the HSA account providers, and so far none seem to fit the bill. HSA Bank systems are adequate, but even with them I regularly look for alternatives.
I'm still working on lowering my expectations .
__________________
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 offline   Reply With Quote
Old 07-22-2016, 06:46 PM   #109
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,756
Received a survey monkey survey today for feedback about HSA Administrators.

I gave a piece of my mind about the website .
__________________
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 offline   Reply With Quote
Old 07-22-2016, 08:20 PM   #110
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,702
I think I will too. More their "statements". The old statements were just fine. These new ones leave out the transactions which is insane. How can you have a monthly statement without transactions to reconcile?!? I have to go ro a different part of the site to get the transaction history, and it's no really clear.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 07-23-2016, 09:19 AM   #111
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,371
I did the survey last night.

In answer to "What do you like about them?" - I answered that the ONLY thing I like about them is that they offer Vanguard funds. What I don't like is they have the worst website. The lack of info on transactions is the dumbest thing I've ever seen. I also told them I didn't like that the $45 fee had to come out of the account rather than being paid from outside money. I never found how to change that.
__________________
Married, both 62. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 07-23-2016, 01:13 PM   #112
Dryer sheet aficionado
 
Join Date: Jul 2012
Posts: 48
Quote:
Originally Posted by Gotadimple View Post
HSA Bank. Website is OK, low minimum on savings to avoid maintenance fee. TD Ameritrade for larger balances you might want to invest.
Ditto for me. Great experience thus far.
__________________
jarts98 is offline   Reply With Quote
Old 07-30-2016, 12:29 PM   #113
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 3,301
When you redeem HSA funds, do you have to figure out the taxes based on the cost basis?

Do I need to keep track of the dividends and cap gains minus the custodial fees that HSA Administrators take out?
__________________
explanade is offline   Reply With Quote
Old 07-30-2016, 01:32 PM   #114
Thinks s/he gets paid by the post
zinger1457's Avatar
 
Join Date: Jul 2007
Posts: 1,411
Quote:
Originally Posted by explanade View Post
When you redeem HSA funds, do you have to figure out the taxes based on the cost basis?

Do I need to keep track of the dividends and cap gains minus the custodial fees that HSA Administrators take out?
If taking funds out for medical expenses then no taxes are paid. If taking funds out for non-medical expenses then you pay a 20% penalty in addition to income taxes, not a good idea. If 65 years or older then there is no 20% penalty for non-medical expense withdrawals but you will have to pay income taxes, like an IRA withdrawal. Cost basis shouldn't matter in any case.
__________________
zinger1457 is offline   Reply With Quote
Old 07-30-2016, 01:58 PM   #115
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 3,301
Thanks.

But if your HSA account didn't appreciate much, say 90% of the balance came from your annual contributions, then should you be taxed on the full amount of the withdrawal or just the portion that has gains?

Because you've contributed after-tax dollars.
__________________
explanade is offline   Reply With Quote
Old 07-30-2016, 02:15 PM   #116
Thinks s/he gets paid by the post
zinger1457's Avatar
 
Join Date: Jul 2007
Posts: 1,411
Quote:
Originally Posted by explanade View Post
Because you've contributed after-tax dollars.
Not if you deducted your HSA contributions.
__________________
zinger1457 is offline   Reply With Quote
Old 07-30-2016, 03:27 PM   #117
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,702
Quote:
Originally Posted by explanade View Post
Thanks.

But if your HSA account didn't appreciate much, say 90% of the balance came from your annual contributions, then should you be taxed on the full amount of the withdrawal or just the portion that has gains?

Because you've contributed after-tax dollars.
It acts just like an IRA. All money withdrawn, if you are old enough, is taxed as ordinary income unless it's used to pay or reimburse qualified medical expenses.

There is no cost basis for HSA funds because it was funded with pre-tax dollars.

Those HSA contributions were taken off your taxable income. So its pretax dollar you contributed.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 07-30-2016, 03:33 PM   #118
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 3,301
No I only opened the HSA after I FIRE'd, so they're all after-tax money for me.

Because I didn't open an HSA when I was working and only opened an account after signing up for health insurance in the last couple of years.
__________________
explanade is offline   Reply With Quote
Old 07-30-2016, 03:52 PM   #119
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,702
Quote:
Originally Posted by explanade View Post
No I only opened the HSA after I FIRE'd, so they're all after-tax money for me.

Because I didn't open an HSA when I was working and only opened an account after signing up for health insurance in the last couple of years.
It has nothing to do with working.

When you file your federal taxes, there is a form for HSA contributions, and these get taken off your taxable income just like an IRA or 401K contribution. You don't pay Federal Income taxes on those contributions.

If you didn't do that on your tax returns you might want to refile and get the refund you are owed.

There is no way to contribute after tax dollars to an HSA account.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 07-30-2016, 04:20 PM   #120
Recycles dryer sheets
 
Join Date: Feb 2014
Location: San Diego
Posts: 66
I have not been notified of a change of custodians. Last year was my first contribution.

Another reason I am glad I am on this forum. I am less than OMY or <OMY!! So this may be my second and last contribution.
__________________

__________________
DH retired 2014.
Sold my business in '16 and retired 5-17!
Ginny is offline   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


Similar Threads
Thread Thread Starter Forum Replies Last Post
HSAAdministrators New Custodian TromboneAl Health and Early Retirement 2 08-10-2015 06:17 PM
Health Savings Administrators - new custodian easysurfer FIRE and Money 12 11-26-2012 06:46 PM
To Moderators and Administrators obgyn65 Forum Admin 48 02-08-2012 06:38 PM
Thanks to our Moderators/Administrators!!! Midpack Other topics 54 12-29-2010 02:45 PM
Dear Administrators kat Forum Admin 10 06-27-2007 12:34 PM

 

 
All times are GMT -6. The time now is 12:12 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.