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HSA advice needed

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  •  drB 
    Participant
    Status: Physician
    Posts: 1
    Joined: 02/09/2019

    I am just starting out getting my financial life in order. Want to first start investing with my HSA money since for now I am not ready (knowledgeable enough) to fire my financial adviser. I have had and HSA account with HSA bank for a long time but never used it for investing. It seems that some of you are switching to Fidelity. What is the main reason you’re switching? Can I transfer funds I just deposited last month into my HSAbank account if I open a Fidelity HSA or do I need to wait until I make the next HSA contribution next year? ( I maxed out for this year already)

    #189528 Reply
    Lithium Lithium 
    Participant
    Status: Physician
    Posts: 937
    Joined: 02/15/2016

    I am just starting out getting my financial life in order. Want to first start investing with my HSA money since for now I am not ready (knowledgeable enough) to fire my financial adviser. I have had and HSA account with HSA bank for a long time but never used it for investing. It seems that some of you are switching to Fidelity. What is the main reason you’re switching? Can I transfer funds I just deposited last month into my HSAbank account if I open a Fidelity HSA or do I need to wait until I make the next HSA contribution next year? ( I maxed out for this year already)

    Click to expand…

    Fidelity doesn’t charge fees.  Lively is the other no-fee option.  If you know you don’t want to stay with HSA Bank (and I wouldn’t), there is no reason to delay switching.

    #189596 Reply
     G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1251
    Joined: 01/08/2016

    Agree with Lithium.  And, yeah, you should invest the HSA money.  I have mine in a total stock market index, but I am saving my HSA and instead cashflowing medical expenses while I can.

    #189601 Reply
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 2510
    Joined: 01/14/2017

    Switch. Fidelity doesn’t mandate a minimum in a savings account so you can invest all of it. Access to good funds at no fees.

    Have your current trustee transfer the amount directly.

    #189610 Reply

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