Wells Fargo HSA Business Sold to Optum Bank

[zinger1457]

Just got a notice from Wells Fargo that they are in the process of selling their HSA business to Optum Bank (a subsidy of UnitedHealth Group). Anyone here use Optum Bank for their HSA? Comments good or bad appreciated. I've been with Wells Fargo HSA for a few years and have been happy with their service, never had any issues.

 

[Senator]

My megacorp HSA is at Optum. Decent service, although everything is through the web. I suspect that maybe a bunch of banks owns Optum.

Here are the funds available. Mostly high fees, but no fees on the account (for me).

FIRST AMER PRIME OBLIGATION Y	FAIXX
FIDELITY ADV FREEDOM 2010 T	FCFTX
FIDELITY ADV FREEDOM 2020 T	FDTFX
FIDELITY ADV FREEDOM 2030 T	FTFEX
FIDELITY ADV FREEDOM 2040 T	FTFFX
NUVEEN STRAT CONSERV ALLOC I	FSFYX
NUVEEN STRAT BALANCED ALLOC I	FSKYX
NUVEEN STRAT GROWTH ALLOC I	FSGYX
NUVEEN STRAT AGGR GROW ALLOC I	FSAYX
NUVEEN EQUITY INDEX I	FEIIX
NUVEEN MID CAP INDEX I	FIMEX
NUVEEN SMALL CAP INDEX I	ASETX
NUVEEN DIVIDEND VALUE I	FAQIX
NUVEEN MID CAP VALUE I	FSEIX
NUVEEN SMALL CAP VALUE I	FSCCX
NUVEEN LARGE CAP GROWTH OPP I	FIGWX
NUVEEN MID CAP GROWTH OPP I	FISGX
NUVEEN SMALL CAP GROWTH OPP I	FIMPX
NUVEEN MID CAP GROWTH OPP I	FISGX
NUVEEN SMALL CAP GROWTH OPP I	FIMPX
NUVEEN PLUS CORE BOND I	FFIIX
PIMCO TOTAL RETURN INST	PTTRX
NUVEEN INTERNATIONAL GROWTH I	NBQIX

 

[Daniel J]

My individual Optum HSA has an option to invest with Vanguard Admiral shares.


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[zinger1457]

My megacorp HSA is at Optum. Decent service, although everything is through the web. I suspect that maybe a bunch of banks owns Optum.

Here are the funds available. Mostly high fees, but no fees on the account (for me).

Thanks! Not sure why but the Optum web site shows a list of investment funds available through their HSA plan that is completely different from your list. They have about a dozen Vanguard funds on their list, some with low fees.

https://www.optumbank.com/individuals-families/how-to-invest-with-hsas/mutual-funds.html

 

[Dreaming of Freedom]

I have an Optum Bank HSA through my employer, and I have been happy with them. The funds I have access to are completely different than Senator's fund choices. My fund choices also include several Vanguard Admiral funds, and I have to pay $3/month to invest in funds, but there are no other fees. So, I pay $36/year, but have access to at least 5 low fee Vanguard funds. It is one of the better HSA accounts I found when doing research.

 

[UtahSkier]

I've been with Optum since 2010. They have Wellesley admiral and the web site works well with Quicken.

Also, I think the $3/mo fee is for cash balances below $5000. The few times my balance exceeded $5k, I was not charged the fee. I keep around $3000 in cash and sweep the rest in Wellesley, so I pay the monthly fee.