Health Savings Administrators' New Custodian

[starry night]

Regarding website access difficulties, I was advised to use Internet Explorer. Doesn't work well in Chrome.

 

[explanade]

OK, doing my monthly checks and my holdings in Health Savings Administrators accounts all have slightly lower share amounts, compared to the last statement on 11/1/15.

VTIAX, VTSAX and VWENX are all lower by .02 or .03 shares compared to that last statement.

If anything, around this time of the year, there should be dividend distributions which would get reinvested (if you have DRIP enabled) and the shares should be increasing?

Anyone else finding this?

 

[easysurfer]

Regarding website access difficulties, I was advised to use Internet Explorer. Doesn't work well in Chrome.

I sure hate using this website. Was on a few weeks ago, no problems. Then today tried to go on and the site asked, do I want to remember the computer. I selected the box for yes, then my account got locked out. Now I have to wait until 1/4 to call and get my access unlocked. They over at HSA Admin must really like talking to people .

 

[Sue J]

I tried accessing this morning and also got an error.

We've had an HSA for the last 2 years but for 2016 the cost for an HDHP plan was much too high so we went with a plain old Bronze. So I can't make any HSA contributions for 2016. We've have enough expenses to use up our remaining balance that's left. I'd like to reimburse ourselves and close the account and avoid the yearly fee. When I tried to do the reimbursement it wouldn't let me pull out the full amount, there was about $150 that would be left.

I guess I'll have to call to find out how to get the full amount and close the account.

 

[easysurfer]

I have a love/hate relationship with HSA Administrators. Love the first dollar investing to Vanguard but hate their website. I'm almost tempted to bail on them just to have a more friendly online experience.

 

[explanade]

Has anyone paid the custodial fee for this year?

Last year I think it was done through PayPal IIRC.

Wonder if they got something better with the new web site.

Guess it's also time to make the annual contribution.

 

[REWahoo]

Has anyone paid the custodial fee for this year?

I looked for it in December but never got any notification it was due. Thought maybe they deducted it from my account but nothing showed up when I checked my account earlier this week.

 

[explanade]

Just tried logging in.

An error has occurred, call customer service.

What incompetents.

 

[easysurfer]

Under the new custodian, the fee gets deducted automatically.

Fees - Health Savings

Come Monday, I have a feeling their phone will be swamped with folks trying to regain online access.

 

[explanade]

Deducted from where?

Are they going to redeem shares to deduct the fee?

I didn't leave any money in the HSA Bank or whatever it is that you have to go through.

 

[easysurfer]

Just tried logging in.

An error has occurred, call customer service.

What incompetents.

Called just now. My account is now unlocked and got a temp password over the phone. But the system. They said try again a couple of hours. I wonder how many of the calls are "Hey, I got locked out of your website?"

Deducted from where?

Are they going to redeem shares to deduct the fee?

I didn't leave any money in the HSA Bank or whatever it is that you have to go through.

One way to find the answer is to look at old statements, if you can get in the system .

 

[audreyh1]

Deducted from where?

Are they going to redeem shares to deduct the fee?

I didn't leave any money in the HSA Bank or whatever it is that you have to go through.

Yep. That's how they did it before too.

 

[walkinwood]

HSA administrators give you so little information in their statements and it is even worse with the new custodian. They sold shares from a mutual fund for their annual fee, but the statement doesn't say how many and at what value. Makes it impossible to keep your own records. I'm hoping that information will be forthcoming.

And that site is so non-intuitive. Try contributing to your HSA from the site. It is easy once you figure out where they hide it.

 

[audreyh1]

No, the site is not good at all. But your information is the under "transaction information", which is under one of the main dropdowns.

 

[easysurfer]

HSA administrators give you so little information in their statements and it is even worse with the new custodian. They sold shares from a mutual fund for their annual fee, but the statement doesn't say how many and at what value. Makes it impossible to keep your own records. I'm hoping that information will be forthcoming.

And that site is so non-intuitive. Try contributing to your HSA from the site. It is easy once you figure out where they hide it.

Yeah, it took me about 30 minutes to finally figure out where they hide it. I think that site is under the theory that more and busy, but hidden looks more impressive .

Oh, I was able to get back in my account after they removed the lock and I had to reset my password. Other than getting an email from them showing my password and calling that my user ID, things went smoothly .

 

[explanade]

Ok what are some alternatives to this mess?

I don't like them redeeming shares to pay themselves.

 

[walkinwood]

Ok what are some alternatives to this mess?

I don't like them redeeming shares to pay themselves.

I asked if I could be billed for the maintenance fee and they replied that they cannot do that per their policy.

I have no idea if that is forbidden by the HSA rules or just a limitation of their system.

 

[explanade]

Last year I made a separate PayPal charge for the fee.

Had a balance for $45 for a couple of days on my account so I clicked the payment link.

 

[easysurfer]

More Grrrr .

I set up my account for scheduled contributions from my checking account, but today get an email saying the ACH the automated transaction failed and that may be for several reasons. I was doing ACH transactions toward the end of 2015 already.

I decided not to deal with the aggravation of their "new and improved" (being sarcastic) website and decided to just make my contributions by snail mail. Hopefully, they could handle that.

 

[audreyh1]

Last year I made a separate PayPal charge for the fee.

Had a balance for $45 for a couple of days on my account so I clicked the payment link.

They still redeemed shares with the prior custodian, in addition to the $45.

 

[explanade]

I can't tell if they redeemed shares for the account.

For that matter, I can't even see where this $45 bill would be.

Would that be at the HSA Bank site or this healthsavings.com site?

 

[Gone4Good]

More Grrrr .

I set up my account for scheduled contributions from my checking account, but today get an email saying the ACH the automated transaction failed and that may be for several reasons.

Same here, only I didn't get a notice that the contribution failed. My "Scheduled Event" just kind of sat there doing nothing. So I deleted it and tried again on the 11th. Still hasn't gone through as of end of day on the 12th.

I did notice the fee taken out of my account earlier this year, though. So at least that works.

 

[audreyh1]

I can't tell if they redeemed shares for the account.

For that matter, I can't even see where this $45 bill would be.

Would that be at the HSA Bank site or this healthsavings.com site?

Health savings.com. Every quarter they siphoned off some fractional shares.

 

[easysurfer]

Same here, only I didn't get a notice that the contribution failed. My "Scheduled Event" just kind of sat there doing nothing. So I deleted it and tried again on the 11th. Still hasn't gone through as of end of day on the 12th.

I did notice the fee taken out of my account earlier this year, though. So at least that works.

When I deleted my scheduled event, I then got a notification saying something like I have a transaction set for the 14th, but this will delete my scheduled event in the future. Nothing like being misleading . So, either I'll make two contributions (one snail mail and automated) or just the snail mail.

You know the saying about 3 strikes and you're out. For me, Health Savings is at about strike 2.99 .

 

[explanade]

Are there alternatives which offer VG Admiral funds and has low fees?