fee-free HSA with low cost investment optiond

[escape]

Hello,

Forgive me if this has been covered before, my search did not come up with anything usable.

Any recommendations for a good HSA admin that charges no fees and includes options for ETF or other low cost investments?

Thank you!

 

[Gotadimple]

Hello,

Forgive me if this has been covered before, my search did not come up with anything usable.

Any recommendations for a good HSA admin that charges no fees and includes options for ETF or other low cost investments?

Thank you!

HSA Bank offers online banking and brokerage through TD Ameritrade (now part of Schwab). There is a monthly $2.50 fee if you are below a minimum balance of $3000. There is also a small monthly fee if you want to do investing with your HSA cash. Here's the link:
https://www.hsabank.com/hsabank/homepage

 

[RunningBum]

Fidelity. No fees and full access to Fidelity's funds and ETFs. Maybe others too, I don't know.
https://www.fidelity.com/go/hsa/why-hsa
I think a number of people (myself included) moved their HSA here and I don't recall hearing anyone moving back out.

 

[HenryD]

I moved mine to Fidelity. https://www.fidelity.com/go/hsa/why-hsa. Only been a few months, but happy so far.

My previous provider (Further for the cash, Schwab for the investments) was charging me $3 a month plus $18 a year.

 

[Out-to-Lunch]

I am planning to move mine from Optum to Fido, for the reasons cited above.

 

[audreyh1]

Fidelity HSA. No fees. Very low cost investment options.

 

[jimbee]

I use Fidelity HSA, and concur with the above comments regarding Fidelity. No fees and inexpensive investment choices.

 

[FLSUnFIRE]

Now that I am FIREd I plan to move mine to Fidelity or Vanguard to avoid the fees I'll face if I stay with Payflex. I'm on the fence as to which as I am all Vanguard now and a happy customer. I was thinking of trying out Fidelity with the HSA and possibly opening a traditional IRA with them if I accidentally get any W-2 income while I'm enjoying my new life.

 

[HenryD]

Now that I am FIREd I plan to move mine to Fidelity or Vanguard to avoid the fees I'll face if I stay with Payflex. I'm on the fence as to which as I am all Vanguard now and a happy customer. I was thinking of trying out Fidelity with the HSA and possibly opening a traditional IRA with them if I accidentally get any W-2 income while I'm enjoying my new life.

Last I checked Vanguard does not directly offer HSAs. One reason why I went with Fidelity despite mostly being at Vanguard.

 

[FLSUnFIRE]

Last I checked Vanguard does not directly offer HSAs. One reason why I went with Fidelity despite mostly being at Vanguard.

I guess not, I could have sworn I saw the option but they send you to heathsavings.com that looks to charge $3/mo. Fidelity it will be (just waiting for my insurance to drop me in mid-August before I move the account).

 

[teej1985]

Fidelity is the only game in town. There's no reason to consider another.

 

[pb4uski]

Hello,

Forgive me if this has been covered before, my search did not come up with anything usable.

Any recommendations for a good HSA admin that charges no fees and includes options for ETF or other low cost investments?

Thank you!

Fidelity.

 

[Lakedog]

I've been using HSA Bank with linked TD Ameritrade account for years but plan to switch to Fidelity soon. As long as I had the HDHP plan, I did not have to pay any of the monthly fees since my health plan covered those. Since turning 65 recently and switching to a different health plan (to go along with medicare), I am now having to pay the small monthly fees. Although I like TDA and have other accounts there, I dislike having HSA Bank as a middleman managing the HSA account.

 

[qwerty3656]

Another vote for Fidelity

 

[HenryD]

...Although I like TDA and have other accounts there, I dislike having HSA Bank as a middleman managing the HSA account.

One of the things I dislike about DW's Optum HSA is that it requires at least $2k to be kept in cash outside the investment account. I assume this is to justify their role as middleman/admin. As soon as she separates from megacorp we'll roll it over to Fidelity where there is no such bogus restriction.

Having Further as the middleman jacked up the timeline and complexity of rolling my account over, too. In retrospect, I should have done it years ago.

Edit: *dislike*

 

[N02L84ER]

Another vote for Fidelity.

 

[ownyourfuture]

Yet another vote for Fidelity.
Opened mine @ HSA Bank. (Fidelity didn't offer HSA's @ the time)
Stayed about 1.5 years.
Moved to Fidelity.

Not even close.
Fidelity **********
HSA Bank **

 

[zinger1457]

Fidelity is the only game in town. There's no reason to consider another.

I wouldn't say they are the only game in town, my Optum HSA account has no fees and offers access to a decent selection investment funds including Vanguard and Schwab. I've been happy with their service.

 

[pjm-7]

I even transferred my HSA to Fido. I had always vowed to never do business with Fidelity since they kicked me out for a low balance money market account (the balance fell below $5000) thirty years ago. I must be getting old since I finally forgave them, sort of.

 

[Yoheadden]

I guess not, I could have sworn I saw the option but they send you to heathsavings.com that looks to charge $3/mo. Fidelity it will be (just waiting for my insurance to drop me in mid-August before I move the account).

I’m in the process of transferring mine & DW’s accounts to FIDO, even though mostly, everything else is with Vanguard.
As a bonus, you can add nonFidelity accounts and use FIDO’s tools to test your whole portfolio.

 

[Puzzler]

Just liquidated and closed my investment account with hsa bank yesterday. Getting ready to transfer it all to FIDO. Excited to have all my accounts in one place to make it easier to manage.

 

[travelover]

Move it to Fidelity. Best choice by far.

 

[Montecfo]

From earlier threads I think Fidelity seemed to be the fave with HSA Bank/TDA second.

One fly in the ointment is Fidelity's flagging customer service (long wait times on hold).

I'm sticking with HSA/TDA for now. No fees. I just keep 3k cash in the account, rest at TDA.

 

[big-papa]

Fidelity. No fees and full access to Fidelity's funds and ETFs. Maybe others too, I don't know.
https://www.fidelity.com/go/hsa/why-hsa
I think a number of people (myself included) moved their HSA here and I don't recall hearing anyone moving back out.

+1 My employer uses HealthEquity which charges fees for investing. Once I discovered that I could do custodian to custodian transfers easily, I opened up an HSA at Fidelity. First time I did it, I initiated it online from the Fidelity side and moved all but about $50 there (you need to keep a $25 min to keep the account open at HealthEquity). Second time I did it, I initiated it from the HealthEquity side with an online form to see how fast the transfer would happen with that method. Initiating from the HealthEquity side was about a week faster for the transfer to complete. Your mileage may vary.

Every 3 paychecks, I now initiate a transfer from HealthEquity to Fidelity and do so from the HealthEquity side.

Anyway, I've done everything online, from creating the account at Fidelity to performing the transfers. No talking to anybody in customer service at either custodian has been required.

Cheers.

 

[CincyDave]

Another vote for Fidelity. Transferred it there when I retired. No fees and access to funds, ETFs and individual stocks.