A question for all of you savvy HSA holders out there: Who do you use/recommend as a custodian? For the past 5 years or so, I've used Bank of America, b/c 1) they charge no fees, 2) their HSA debit card works fine, 3) we use them for our regular checking account 4) they paid significantly above market interest rates.
However, two things are making us want to change. 1) Their interest rate has fallen to almost nothing. 2) The investment choices they offer are all high fee and terrible. Now that the market has fallen significantly, and our HSA balance has gone up through contributions and good health, I wouldn't mind investing a percentage of our HSA in equities or bonds.
Most of what I've found about HSAs seems to date back 5 or 6 years ago when they were in vogue. Most of the threads seem to be dead and outdated now, but I am sure things have changed since I set up our account with BAC.
Does anyone here have an HSA custodian they love? A company called "selectAccount" offers a "self-directed" account if your balance is over $10,000. They say it can be based at Charles Schwab (which would be great - they have most of our stock and retirement accounts). But Schwab's website makes no mention of being an HSA custodian. Info from 06 or so says specifically they do not do that.
Any ideas or advice? I've searched through old RE threads, but not found this question raised specifically/recently.
Thanks as always, -Tricky88
However, two things are making us want to change. 1) Their interest rate has fallen to almost nothing. 2) The investment choices they offer are all high fee and terrible. Now that the market has fallen significantly, and our HSA balance has gone up through contributions and good health, I wouldn't mind investing a percentage of our HSA in equities or bonds.
Most of what I've found about HSAs seems to date back 5 or 6 years ago when they were in vogue. Most of the threads seem to be dead and outdated now, but I am sure things have changed since I set up our account with BAC.
Does anyone here have an HSA custodian they love? A company called "selectAccount" offers a "self-directed" account if your balance is over $10,000. They say it can be based at Charles Schwab (which would be great - they have most of our stock and retirement accounts). But Schwab's website makes no mention of being an HSA custodian. Info from 06 or so says specifically they do not do that.
Any ideas or advice? I've searched through old RE threads, but not found this question raised specifically/recently.
Thanks as always, -Tricky88