HSA at Optum Health Bank

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HSA at Optum Health Bank

Postby porcupine » Tue Jan 29, 2013 12:56 pm

Based on a recent thread, I researched this bank's investment options. From what I can tell, they appear pretty decent. You can select the Health eSaver option and, as long as your balance with them exceeds $5k, you would be paying no extra fees. Am I reading this right?

Now if only they add the Vanguard funds among their options ... I need to contact them to find out!

- Porcupine
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Re: HSA at Optum Health Bank

Postby ftobin » Tue Jan 29, 2013 2:19 pm

porcupine wrote:Based on a recent thread, I researched this bank's investment options. From what I can tell, they appear pretty decent. You can select the Health eSaver option and, as long as your balance with them exceeds $5k, you would be paying no extra fees. Am I reading this right?

If you're willing to let $5K sit uninvested, HSA Bank lets you invest into anything via TD Ameritrade for no fees.
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Re: HSA at Optum Health Bank

Postby porcupine » Tue Jan 29, 2013 3:50 pm

ftobin wrote:
porcupine wrote:Based on a recent thread, I researched this bank's investment options. From what I can tell, they appear pretty decent. You can select the Health eSaver option and, as long as your balance with them exceeds $5k, you would be paying no extra fees. Am I reading this right?

If you're willing to let $5K sit uninvested, HSA Bank lets you invest into anything via TD Ameritrade for no fees.

The way I look at it, HSA Bank and Health Savings Administrators (I think that's the right name) both have similar pluses and minuses. However, the way I was looking was - keep $5k in Alliant or some such HSA for the cash/cash equivalents, and put the rest to work directly. That way, you don't lose out on the interest and you get the maximum exposure (relatively speaking) to the market.

- Porcupine
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