Health Savings Account (HSA) plays a major role in my early retirement strategy. The HSA comes with quadruple tax benefits that …
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Health Savings Account (HSA) plays a major role in my early retirement strategy. The HSA comes with quadruple tax benefits that …
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Have you check Schwab Health Savings Brokerage Account (HSBA)? Can I invest in any stock like a regular brokerage account with Fidelity?
Do you lose money making that transfer to your checking account?
Lively will waive the fees if you keep $3,000.00 in your core account @ 0.000000001% interest – basically a few pennies per month. Also, keep in mind that Lively's investment brokerage is with Trump's sycophant Charles Schwab. Moving money between checking, Lively HSA, and brokerage takes forever to settle. IMO, Fidelity is the way to go.
get rid of Health Equity immediately.
I have Health Equity and invest mainly in their VIIIX fund, which tracks the S&P, and in their growth fund, which is VIGIX. Been maxing my HSA for the last few years. I have over $31k in it and am letting it grow with continued contributions and investment growth. HSAs are awesome! If you qualify, I would highly encourage you to get one.
I started investing a portion of my HSA, if I decide to rollover my contributions to another Broker (ex. from Lively to Fidelity), do I need to sell them first before transferring the money?
I don't think you can reimburse yourself for Medicare Premiums!
But you can for:
Long Term Care Insurance Premiums
Out-of-Pocket Medical Expenses while you had a "High Deductible Healthcare Plan".
SAVE YOUR RECEIPTS!
Excellent advice! Thank you. I’m going to switch my HSA from Optum Bank to Fidelity.
I just started an HSA thru my employer. They use Optum. Fees are paid by employer. My employer also contributes $1k/year to my acct. Should I switch to Fidelity? How would that work with taking the deduction tax free from my paycheck?
Can I invest my employer HSA with Optum in another brokerage?
Hey,
Thanks for sharing. Are you aware that HSAbank just severed ties with Charles Schwab?
Any guidance on any other HSA banks?
Optum is also the custodian of my HSA through my workplace. I think I'm paying $3/month just to have the Optum Investment Account and agree, the investment options are limited and have high expense ratios! Recently however, we were given the option of investing with the Schwab HSBA through our Optum HSA account. Curious if your have that option as well? From what I understand, as I just learned more about today, I can sell my Optum investments back to my Optum Cash account and then use the Optum Cash account to transfer into the Schwab HSBA and once there, I have almost all etf's and mutual funds at my fingertips through Schwab. From what I can tell, there's no fee to use the Schwab HSBA account and if I liquidate the Optum Investment account, I'll no longer incur the $3/month investment fee from Optum. So at that point, from what I can tell, it's literally fee free to use Schwab and I have access to almost everything. Just curious if you have acces to the Schwab HSBA through your Optum account?
I have optimum from my employer and it’s gotten better. You can use Schwab or betterment for investing now. I also have fidelity hsa so I can buy fractional shares of ETFs and stocks
Can you have HSA from outside firm and if you have low deductible insurance.
My employer is with pay flex . Do I Need to contribute to pay flex or can I go to fidelity?
ETFs or index funds in the HSA? Which is better? Not sure if taxes will come into play and that’s why I assume ETFSs are a better choice?
Fidelity HSA A/C Fees is 0.35% for 25K and above … so it is not capped at 25k unless I am missing something.
can I switch my HSA provider while keeping employee match if with Optum ?
Lively used to be fee-free. Now with their move from TD to Schwab they are charging $24 annually. Since I only realized this when looking into opening a 529 with Fidelity since that is where my 401k is. Looks like I will have them all in the same place an move my HSA to Fidelity!
Tip: use your HSA to pay your Medicare premiums when you start collecting SS at 65.