Hi!
2016 is the first year my employer offered an HSA with a HDHP and we chose it because we are relatively young and healthy (knock wood) and the tax efficiency is great.
The HSA fund adminstrator (UMB) charges $3/month ($36/year) to invest HSA funds and my employer covers that fee for its employees. A commenter on a blog post about HSAs wrote that once his wife retired, her employer stopped covering that fee and the fee started getting pulled out of the assets in the account each month. My plan is to retire this year. $36/year would be about another 0.65% annual expense that I'd very muc like to avoid. If my employer also stops covering that fee for me once retired, can I transfer my HSA to another fund administrator? If so, do you know any that don't charge a fee?
2016 is the first year my employer offered an HSA with a HDHP and we chose it because we are relatively young and healthy (knock wood) and the tax efficiency is great.
The HSA fund adminstrator (UMB) charges $3/month ($36/year) to invest HSA funds and my employer covers that fee for its employees. A commenter on a blog post about HSAs wrote that once his wife retired, her employer stopped covering that fee and the fee started getting pulled out of the assets in the account each month. My plan is to retire this year. $36/year would be about another 0.65% annual expense that I'd very muc like to avoid. If my employer also stops covering that fee for me once retired, can I transfer my HSA to another fund administrator? If so, do you know any that don't charge a fee?