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Anyone switch to Fidelity HSA?
Old 11-17-2020, 01:36 PM   #1
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Anyone switch to Fidelity HSA?

We have our HSA's with Health Equity and are not happy with fees and investment choices. We are thinking of moving them to Fidelity and was wondering if anyone has any experience with Fidelity's HSA, both pro & con.


Thanks!
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Old 11-17-2020, 01:38 PM   #2
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Originally Posted by DektolMan View Post
We have our HSA's with Health Equity and are not happy with fees and investment choices. We are thinking of moving them to Fidelity and was wondering if anyone has any experience with Fidelity's HSA, both pro & con.


Thanks!
A lot of us have, and have had no problems. No fees and lots of good choices. You can do a search to find out more.
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Old 11-17-2020, 01:43 PM   #3
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My "guy", actually his assistant, was very helpful in staying on top of the account transfers as well.


My transfer from TD to Fidelity was very quick and easy, from HSA Bank to Fidelity not so much.
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Old 11-17-2020, 01:48 PM   #4
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There are a number of threads already discussing this. Just search "Fidelity HSA"

Several advantages including: No fees, Free checks & debit card, Wide range of investment options.

Tax reporting is simplified as all Fidelity investment & HSA accounts directly download into Turbotax or HRBlock tax software.

If you are saving up receipts from medical costs paid out of pocket for future reimbursement, Fidelity's "Fidsafe" is a great way to keep document copies in cloud storage. Again, no fee for this.

We moved our HSA's to Fidelity two years ago and have no regrets.

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Old 11-17-2020, 01:51 PM   #5
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I opened one last year. I'm building it up, not spending. Same investments available as with regular brokerage account. Looks good so far.
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Old 11-17-2020, 01:58 PM   #6
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Thank you for the replies, I really appreciate it!
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Old 11-17-2020, 02:13 PM   #7
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A lot of us have, and have had no problems. No fees and lots of good choices. You can do a search to find out more.
I switched in 2018. Fidelity did a great job. Good choices -- far better than old HSA accounts.
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Old 11-17-2020, 02:52 PM   #8
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Ditto all the positive reviews. If you are familiar with Fidelity's regular brokerage account access, you will have no issues with using their HSA account. I moved about 18 months ago from a credit union, and have no regrets.
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Old 11-17-2020, 02:59 PM   #9
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Yes, did it and am very happy with the results.
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Old 11-17-2020, 03:04 PM   #10
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Here's the big thread. More than you ever wanted to know:
https://www.early-retirement.org/for...ml#post2142391
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Old 11-18-2020, 06:23 AM   #11
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A lot of us have, and have had no problems. No fees and lots of good choices. You can do a search to find out more.
+1

Moved our HSA to Fido last year.
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Old 11-18-2020, 06:26 AM   #12
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The Fidelity HSA was the Best HSA I have ever had.

It feels vary much like a brokerage account without all the intermediary companies that are normally associated with a HSA where you can buy investments.

I have never looked back!

I think that I opened it online (already am a Fidelity customer), and funded it was a small contribution for the current year. I think the account was up and running either instantly or within a day at most.

I then proceeded to do an indirect/60-day rollover from my old HSA by closing the account, receiving a check and then doing a rollover contribution to the Fidelity HSA. Note, I believe you are limited to one indirect/60-day HSA rollover per year.

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Old 11-18-2020, 02:42 PM   #13
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Another HSA related question --
I will turn 65 & will be going on Medicare in the middle of 2021,

Can I continue my 1)Fidelity HSA contribution & 2)HSA Health Insurance Plan
till the middle of next year.
or
Do I stop contributing to HSA at the end of 2020 ?
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Old 11-18-2020, 02:50 PM   #14
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Another HSA related question --
I will turn 65 & will be going on Medicare in the middle of 2021,

Can I continue my 1)Fidelity HSA contribution & 2)HSA Health Insurance Plan
till the middle of next year.
or
Do I stop contributing to HSA at the end of 2020 ?
You can contribute to the HSA for tax year 2021, the amount is prorated to the number of months you are enrolled in the HSA policy. You can also prorate the HSA catch up contribution.
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Old 11-18-2020, 03:01 PM   #15
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Originally Posted by rkser View Post
Another HSA related question --
I will turn 65 & will be going on Medicare in the middle of 2021,

Can I continue my 1)Fidelity HSA contribution & 2)HSA Health Insurance Plan
till the middle of next year.
or
Do I stop contributing to HSA at the end of 2020 ?
DH became Medicare eligible in May of this year. So he contributed through April - 1/3 of a year’s worth, including the catchup contribution.
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Old 11-18-2020, 03:18 PM   #16
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Thank you for the answers,

I want to confirm that we do NOT need earned income to contribute to HSA, correct ??

Thanks
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Old 11-18-2020, 03:32 PM   #17
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Thank you for the answers,

I want to confirm that we do NOT need earned income to contribute to HSA, correct ??

Thanks
Confirmed.
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Old 11-18-2020, 07:49 PM   #18
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I also have HSA with Health Equity and am not happy with fees. Thinking about converting to Fidelity too.
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Old 11-18-2020, 08:23 PM   #19
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I also have HSA with Health Equity and am not happy with fees. Thinking about converting to Fidelity too.

I called Fidelity and they suggested it was easier to move one money market account over instead of a MM and an mutual funds within the HSA. I'll consolidate them into a single MM fund so transfer will be easier.


The choice of funds at Fidelity seems so much better.
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Old 11-20-2020, 06:27 PM   #20
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I moved from HealthEquity to Fidelity when Fidelity first started offering them. Transfer took forever, but it eventually got done. I"m assuming that HealthEquity was dragging thier feet.
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