Lowest HSA Fees

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Topic Author
leonazul25
Posts: 18
Joined: Thu Nov 19, 2015 1:57 pm

Lowest HSA Fees

Post by leonazul25 »

Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
metsmetsmets
Posts: 36
Joined: Sun Dec 06, 2015 6:52 pm

Re: Lowest HSA Fees

Post by metsmetsmets »

If you maintain a minimum balance of what I believe is $2000 then HealthEquity has no monthly fees. They make their money on debit card fees and a kick back from their mutual fund partners. I have used them for several years and they have been good....
dignan
Posts: 76
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Location: chicago

Re: Lowest HSA Fees

Post by dignan »

I did a lot of research through hsasearch.com and decided on HSA Authority. They have a handful of low cost funds and only charge $36 per year. I discussed my experience in another thread - viewtopic.php?f=1&t=190993#p2985052
Last edited by dignan on Tue Oct 25, 2016 12:00 pm, edited 1 time in total.
*3!4!/5!
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Re: Lowest HSA Fees

Post by *3!4!/5! »

metsmetsmets wrote:If you maintain a minimum balance of what I believe is $2000 then HealthEquity has no monthly fees. They make their money on debit card fees and a kick back from their mutual fund partners. I have used them for several years and they have been good....
HealthEquity has a 0.4% (per year) wrap fee to invest. That will get very expensive as the investment balance grows.
leonazul25 wrote:Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
Some have mentioned Saturna brokerage.
viewtopic.php?f=10&t=135513

My employer payroll deducts to Health Equity HSA, so I definitely have to keep that plan, but transferring the bulk of the balance to Saturna would be a way to avoid Health Equity's hefty 40bp wrap fee. (Haven't done it yet; plan to soon.)
downtownrb
Posts: 13
Joined: Tue Oct 25, 2016 12:13 pm

Re: Lowest HSA Fees

Post by downtownrb »

I use Optum Bank myself - mainly because my employer set it up. They charge a $3 / month fee for an "investment" account. You need to leave $2k in a cash balance but anything above can be invested.


The funds are:

Investment Name Ticker Symbol Asset Class
American Funds Capital World* CWGFX World Stock-Large Value
Blackrock Equity Dividend MDDVX Equity
Fidelity Low-Priced Stock FLPSX Mid Cap Value
Goldman Sachs Bal Strat - CLOSED: NO ELECTIONS GIPAX Allocation
Goldman Sachs Gr & Inc Strat - CLOSED: NO ELECTIONS GOIAX Allocation
Goldman Sachs Growth Strat - CLOSED: NO ELECTIONS GGSAX Allocation
John Hancock Fundamental Large Cap Core TAGRX Equity
John Hancock High Yield A - CLOSED: NO ELECTIONS JHHBX Fixed Income
Keeley Small Cap Value - CLOSED: NO ELECTIONS KSCVX Equity
Lord Abbett High Yield* LHYAX Fixed Income
Neuberger Berman Genesis Fund - INST NBGIX Equity
Neuberger Berman Real Estate - CLOSED: NO ELECTIONS NREAX Equity
Oppenheimer Developing Markets ODMAX International
PIMCO All Asset Fund - CLOSED: NO ELECTIONS PASAX Allocation
PIMCO Com Real Return Strat - CLOSED: NO ELECTIONS PCRAX Specialty
PIMCO GNMA PAGNX Fixed Income
PIMCO Low Duration PTLAX Fixed Income
PIMCO Real Return Fund PRTNX Fixed Income
PIMCO Stocks Plus Small - CLOSED: NO ELECTIONS PCKAX Equity
T. Rowe Price Blue Chip* TRBCX Large Cap Growth Stock
Vanguard Equity-Income - A* VEIRX Large Cap Value
Vanguard Extended Market * VEXAX Small Cap Growth
Vanguard Global Equity * VHGEX World Stock-Large Blend
Vanguard Healthcare* VGHAX Alternative Blend
Vanguard Life Strategy-Growth* VASGX Aggressive Allocation
Vanguard LifeStrategy-Conservative Growth* VSCGX Conservative Allocation
Vanguard LifeStrategy-Moderate Growth* VSMGX Moderate Allocation
Vanguard Mid Cap Index - A* VIMAX Mid Cap Blend
Vanguard REIT* VGSLX Alternative Blend
Vanguard S&P 500 Index - A* VFIAX Indexed
Vanguard Small Cap Index - A* VSMAX Indexed
Vanguard Total Stock Market * VTSAX Large Cap Blend
Vanguard Treasury Money Market VUSXX Money Market
Vanguard Wellington - A* VWENX Equity
Victory Munder Mid Cap Core Growth MGOAX Equity
Topic Author
leonazul25
Posts: 18
Joined: Thu Nov 19, 2015 1:57 pm

Re: Lowest HSA Fees

Post by leonazul25 »

Thank you but I do not want a penny in the cash portion.

downtownrb wrote:I use Optum Bank myself - mainly because my employer set it up. They charge a $3 / month fee for an "investment" account. You need to leave $2k in a cash balance but anything above can be invested.


The funds are:

Investment Name Ticker Symbol Asset Class
American Funds Capital World* CWGFX World Stock-Large Value
Blackrock Equity Dividend MDDVX Equity
Fidelity Low-Priced Stock FLPSX Mid Cap Value
Goldman Sachs Bal Strat - CLOSED: NO ELECTIONS GIPAX Allocation
Goldman Sachs Gr & Inc Strat - CLOSED: NO ELECTIONS GOIAX Allocation
Goldman Sachs Growth Strat - CLOSED: NO ELECTIONS GGSAX Allocation
John Hancock Fundamental Large Cap Core TAGRX Equity
John Hancock High Yield A - CLOSED: NO ELECTIONS JHHBX Fixed Income
Keeley Small Cap Value - CLOSED: NO ELECTIONS KSCVX Equity
Lord Abbett High Yield* LHYAX Fixed Income
Neuberger Berman Genesis Fund - INST NBGIX Equity
Neuberger Berman Real Estate - CLOSED: NO ELECTIONS NREAX Equity
Oppenheimer Developing Markets ODMAX International
PIMCO All Asset Fund - CLOSED: NO ELECTIONS PASAX Allocation
PIMCO Com Real Return Strat - CLOSED: NO ELECTIONS PCRAX Specialty
PIMCO GNMA PAGNX Fixed Income
PIMCO Low Duration PTLAX Fixed Income
PIMCO Real Return Fund PRTNX Fixed Income
PIMCO Stocks Plus Small - CLOSED: NO ELECTIONS PCKAX Equity
T. Rowe Price Blue Chip* TRBCX Large Cap Growth Stock
Vanguard Equity-Income - A* VEIRX Large Cap Value
Vanguard Extended Market * VEXAX Small Cap Growth
Vanguard Global Equity * VHGEX World Stock-Large Blend
Vanguard Healthcare* VGHAX Alternative Blend
Vanguard Life Strategy-Growth* VASGX Aggressive Allocation
Vanguard LifeStrategy-Conservative Growth* VSCGX Conservative Allocation
Vanguard LifeStrategy-Moderate Growth* VSMGX Moderate Allocation
Vanguard Mid Cap Index - A* VIMAX Mid Cap Blend
Vanguard REIT* VGSLX Alternative Blend
Vanguard S&P 500 Index - A* VFIAX Indexed
Vanguard Small Cap Index - A* VSMAX Indexed
Vanguard Total Stock Market * VTSAX Large Cap Blend
Vanguard Treasury Money Market VUSXX Money Market
Vanguard Wellington - A* VWENX Equity
Victory Munder Mid Cap Core Growth MGOAX Equity
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Artsdoctor
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Re: Lowest HSA Fees

Post by Artsdoctor »

Leon,

I use HSA Administrators. My annual administrative fee is waived but the annual custodial fee is 0.25%; I don't know how they decide to waive the annual administrative fee so that would be worth checking out if you're interested. I have access to Vanguard Admiral shares so the All-In cost for me is 0.33% since I used the Vanguard Balanced fund (0.25% + 0.08%). If you just want to use Total Market, it'd be slightly less.

There are probably lower fees out there, but I've had our accounts with them for over 10 years and have never really had any problems. I also have not taken any distributions so cannot comment on other fees associated with the accounts.
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White Coat Investor
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Re: Lowest HSA Fees

Post by White Coat Investor »

leonazul25 wrote:Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
I use HSA bank. If you want to invest the whole thing (instead of leaving $5K in the bank account earning 0.5% interest) then it costs $6 a month, or $72 a year. I figure that's a return of 1.4%. If I can beat that, and I certainly expect VTI to in the long run, then I'm better off paying the fees and investing all the money. That's basically the only fee I pay. If I add in the 5 basis points VTI costs and spread that $72 over the entire $40K or so balance, I figure my total cost is something like 0.23%.

If that's "too expensive" for you to get a triple tax free account, I think your expectations are probably a little too high. I think my all in cost for the very low cost Utah 529 is higher than that. I think my Vanguard individual 401(k) costs are higher than that. My partnership 401(k)/PSP costs are certainly higher than that.

Investing isn't free. These companies have to make enough to stay in business.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
dignan
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Location: chicago

Re: Lowest HSA Fees

Post by dignan »

leonazul25 wrote:Thank you but I do not want a penny in the cash portion.
You don't need to keep a penny of cash with HSA Authority, which was a feature I was looking for also.
kd2008
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Re: Lowest HSA Fees

Post by kd2008 »

No cash position will cost you some fees. Its up to you to decide.

Also read: https://thefinancebuff.com/hsa-transfer ... vices.html

https://thefinancebuff.com/best-hsa-pro ... money.html
Last edited by kd2008 on Tue Oct 25, 2016 1:44 pm, edited 1 time in total.
MI_bogle
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Re: Lowest HSA Fees

Post by MI_bogle »

dignan wrote:I did a lot of research through hsasearch.com and decided on HSA Authority. They have a handful of low cost funds and only charge $36 per year. I discussed my experience in another thread - viewtopic.php?f=1&t=190993#p2985052
+1

I have used them for 4 years thru my work, and they have improved their available funds and fee structure. The lowest ER was a large cap equity fund a few years ago and was in the neighborhood of 0.50, now they have a bunch of low-cost Vanguard funds across all asset classes.

My only gripe is that I have to call them to transfer money from the checking to the investment side. You can transfer from investments to checking online, why can't you do the reverse!?
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sperry8
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Re: Lowest HSA Fees

Post by sperry8 »

White Coat Investor wrote:
leonazul25 wrote:Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
I use HSA bank. If you want to invest the whole thing (instead of leaving $5K in the bank account earning 0.5% interest) then it costs $6 a month, or $72 a year. I figure that's a return of 1.4%. If I can beat that, and I certainly expect VTI to in the long run, then I'm better off paying the fees and investing all the money. That's basically the only fee I pay. If I add in the 5 basis points VTI costs and spread that $72 over the entire $40K or so balance, I figure my total cost is something like 0.23%.

If that's "too expensive" for you to get a triple tax free account, I think your expectations are probably a little too high. I think my all in cost for the very low cost Utah 529 is higher than that. I think my Vanguard individual 401(k) costs are higher than that. My partnership 401(k)/PSP costs are certainly higher than that.

Investing isn't free. These companies have to make enough to stay in business.
I use HSA Bank too. They allow you to invest fee-free via TD Ameritrade in dozens of Vanguard and iShares funds. I do choose to keep $5k in their account to get fees waived, although they provide some nominal interest on that money.
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boyler99
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Re: Lowest HSA Fees

Post by boyler99 »

I like SelectAccount. Their no-frills basic investment account includes the Vanguard 500 Index Admiral mutual fund (ER = 0.05%), without the $3,000 minimum requirement, so you can start investing $100/month for example, and still benefit from the low ER. The only maintenance fee is $1.50/month, deducted annually ($18) from the investment balance. You are, however, required to maintain a $1,000 cash balance in order to leverage the basic investment account. Also, once your basic investment account balance is $10,000 or greater, you can get a full Schwab self-directed brokerage account with access to commission-free Vanguard ETFs for the same $18 annual fee. However, I am just sticking with the basic account since the 500 Index is good enough for me. One more note, their marketing literature shows a $1/month fee for the basic cash account, but I've never had that fee charged to me, not sure why, but maybe new accounts are subject to this fee. If so, your total costs will be $30/year.
dacalo
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Re: Lowest HSA Fees

Post by dacalo »

*3!4!/5! wrote:
HealthEquity has a 0.4% (per year) wrap fee to invest. That will get very expensive as the investment balance grows.
I have HealthEquity and it has 0.033% fee for Vanguard funds, not 0.40%. I guess it depends?
*3!4!/5!
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Re: Lowest HSA Fees

Post by *3!4!/5! »

dacalo wrote:
*3!4!/5! wrote:HealthEquity has a 0.4% (per year) wrap fee to invest. That will get very expensive as the investment balance grows.
I have HealthEquity and it has 0.033% fee for Vanguard funds, not 0.40%. I guess it depends?
It's the exactly the same fee.

0.033% per MONTH
0.40% per YEAR
Topic Author
leonazul25
Posts: 18
Joined: Thu Nov 19, 2015 1:57 pm

Re: Lowest HSA Fees

Post by leonazul25 »

White Coat Investor wrote:
leonazul25 wrote:Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
I use HSA bank. If you want to invest the whole thing (instead of leaving $5K in the bank account earning 0.5% interest) then it costs $6 a month, or $72 a year. I figure that's a return of 1.4%. If I can beat that, and I certainly expect VTI to in the long run, then I'm better off paying the fees and investing all the money. That's basically the only fee I pay. If I add in the 5 basis points VTI costs and spread that $72 over the entire $40K or so balance, I figure my total cost is something like 0.23%.

If that's "too expensive" for you to get a triple tax free account, I think your expectations are probably a little too high. I think my all in cost for the very low cost Utah 529 is higher than that. I think my Vanguard individual 401(k) costs are higher than that. My partnership 401(k)/PSP costs are certainly higher than that.

Investing isn't free. These companies have to make enough to stay in business.
Hello, glad to have you chime in. Big fan of the blog, book and your posts on sdn. Total cost of 23bp is quite good but you are basing that on your 40k balance as of now? This will be my first year investing at 3350 for an individual and $72 is 214bp or 2.14%

I have not done the math over 30 years but in the short term it seems high which is why I'm exploring other options and can always transfer in the account in the future once the balance grows. Thoughts? Speaking of individual vanguard 401ks, I had an appointment today to transfer mine to Fidelity since Vanguard does not allow Admirals shares in their funds. I will be buying FTSVX, their version of VTSMX at 4.5 instead of the 17 basis points with vanguard. Any reason you are still with Vanguard for those accounts?
*3!4!/5!
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Re: Lowest HSA Fees

Post by *3!4!/5! »

I hadn't seen HSA Authority and SelectAccount but they seem reasonable. Any gotchas? Dead cash requirements? Other fees?

How easy is it to enroll? What is it like transferring from another HSA?

It looks like they've got a few good funds (you really only need one), amongst a few dozen bad ones. There's no trading fee and no wrap fee, right?

My main concern would be if they change the fund lineup and leave you stranded with only bad choices.

They both, apparently, like many HSAs, use "Devenir Investment Advisors" to come up with the fund lineup. It looks like Devenir also runs www.hsasearch.com. I hope they're not motivated to make the fund lineup worse.
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White Coat Investor
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Re: Lowest HSA Fees

Post by White Coat Investor »

leonazul25 wrote:
White Coat Investor wrote:
leonazul25 wrote:Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
I use HSA bank. If you want to invest the whole thing (instead of leaving $5K in the bank account earning 0.5% interest) then it costs $6 a month, or $72 a year. I figure that's a return of 1.4%. If I can beat that, and I certainly expect VTI to in the long run, then I'm better off paying the fees and investing all the money. That's basically the only fee I pay. If I add in the 5 basis points VTI costs and spread that $72 over the entire $40K or so balance, I figure my total cost is something like 0.23%.

If that's "too expensive" for you to get a triple tax free account, I think your expectations are probably a little too high. I think my all in cost for the very low cost Utah 529 is higher than that. I think my Vanguard individual 401(k) costs are higher than that. My partnership 401(k)/PSP costs are certainly higher than that.

Investing isn't free. These companies have to make enough to stay in business.
Hello, glad to have you chime in. Big fan of the blog, book and your posts on sdn. Total cost of 23bp is quite good but you are basing that on your 40k balance as of now? This will be my first year investing at 3350 for an individual and $72 is 214bp or 2.14%

I have not done the math over 30 years but in the short term it seems high which is why I'm exploring other options and can always transfer in the account in the future once the balance grows. Thoughts? Speaking of individual vanguard 401ks, I had an appointment today to transfer mine to Fidelity since Vanguard does not allow Admirals shares in their funds. I will be buying FTSVX, their version of VTSMX at 4.5 instead of the 17 basis points with vanguard. Any reason you are still with Vanguard for those accounts?
I haven't changed because I like having everything at one shop and it's not worth 12 basis points to me to have all that hassle of opening a new 401(k). Plus, Fidelity doesn't have all the same funds available as I can get at Vanguard.

2% obviously sounds high, but that will drop every year as the balance increases. It's still just $72 a year. I think you can get a lower "ER" with HSA Administrators, but over the long run I think you'll pay more.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
goGators
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Re: Lowest HSA Fees

Post by goGators »

ReadyToRetire
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Re: Lowest HSA Fees

Post by ReadyToRetire »

I use Merrill Lynch. They charge $50 a year but every couple of years I complain to my advisor - I have some other accounts with them (not a lot of money but some) and she has waived the $50 from time to time. $50 is certainly not cheap especially for smaller balances. And this fee is just for having the account. I have never pulled funds out of it, but I imagine there would be debit fees if I tried.
dignan
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Re: Lowest HSA Fees

Post by dignan »

*3!4!/5! wrote:I hadn't seen HSA Authority and SelectAccount but they seem reasonable. Any gotchas? Dead cash requirements? Other fees?

How easy is it to enroll? What is it like transferring from another HSA?

It looks like they've got a few good funds (you really only need one), amongst a few dozen bad ones. There's no trading fee and no wrap fee, right?

My main concern would be if they change the fund lineup and leave you stranded with only bad choices.

They both, apparently, like many HSAs, use "Devenir Investment Advisors" to come up with the fund lineup. It looks like Devenir also runs http://www.hsasearch.com. I hope they're not motivated to make the fund lineup worse.
I transferred from LMCU and had no issues with HSA Authority. There were no "gotchas" that I ran into. They require $1000 to transfer funds into the investment account to start. There is no required balance in the HSA savings account. The only drawback is having to call to transfer funds from savings to investment. So I call once a month to transfer funds. They charge a $36 flat fee on the anniversary of when you opened the account. Every time I call, they are always courteous and helpful.
*3!4!/5!
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Re: Lowest HSA Fees

Post by *3!4!/5! »

dignan wrote:
*3!4!/5! wrote:I hadn't seen HSA Authority and SelectAccount but they seem reasonable. Any gotchas? Dead cash requirements? Other fees?

How easy is it to enroll? What is it like transferring from another HSA?

It looks like they've got a few good funds (you really only need one), amongst a few dozen bad ones. There's no trading fee and no wrap fee, right?

My main concern would be if they change the fund lineup and leave you stranded with only bad choices.

They both, apparently, like many HSAs, use "Devenir Investment Advisors" to come up with the fund lineup. It looks like Devenir also runs http://www.hsasearch.com. I hope they're not motivated to make the fund lineup worse.
I transferred from LMCU and had no issues with HSA Authority. There were no "gotchas" that I ran into. They require $1000 to transfer funds into the investment account to start. There is no required balance in the HSA savings account. The only drawback is having to call to transfer funds from savings to investment. So I call once a month to transfer funds. They charge a $36 flat fee on the anniversary of when you opened the account. Every time I call, they are always courteous and helpful.
Is the $1000 just to start investing, or do you always have to leave $1000 uninvested?

You said
dignan wrote:I did a lot of research through hsasearch.com and decided on HSA Authority. They have a handful of low cost funds and only charge $36 per year. I discussed my experience in another thread - viewtopic.php?f=1&t=190993#p2985052
Did you consider SelectAccount or other HSAs?

SelectAccount has a few low cost Vanguard funds, but I'm wondering if it is a recent change (and if they may go away again).
dignan
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Re: Lowest HSA Fees

Post by dignan »

*3!4!/5! wrote:
dignan wrote:
*3!4!/5! wrote:I hadn't seen HSA Authority and SelectAccount but they seem reasonable. Any gotchas? Dead cash requirements? Other fees?

How easy is it to enroll? What is it like transferring from another HSA?

It looks like they've got a few good funds (you really only need one), amongst a few dozen bad ones. There's no trading fee and no wrap fee, right?

My main concern would be if they change the fund lineup and leave you stranded with only bad choices.

They both, apparently, like many HSAs, use "Devenir Investment Advisors" to come up with the fund lineup. It looks like Devenir also runs http://www.hsasearch.com. I hope they're not motivated to make the fund lineup worse.
I transferred from LMCU and had no issues with HSA Authority. There were no "gotchas" that I ran into. They require $1000 to transfer funds into the investment account to start. There is no required balance in the HSA savings account. The only drawback is having to call to transfer funds from savings to investment. So I call once a month to transfer funds. They charge a $36 flat fee on the anniversary of when you opened the account. Every time I call, they are always courteous and helpful.
Is the $1000 just to start investing, or do you always have to leave $1000 uninvested?

You said
dignan wrote:I did a lot of research through hsasearch.com and decided on HSA Authority. They have a handful of low cost funds and only charge $36 per year. I discussed my experience in another thread - viewtopic.php?f=1&t=190993#p2985052
Did you consider SelectAccount or other HSAs?

SelectAccount has a few low cost Vanguard funds, but I'm wondering if it is a recent change (and if they may go away again).
"A balance of at least $1,000 is required in the HSA Checking account at the time the HSA Investment account is opened." http://www.thehsaauthority.com/hsa_inve ... vices.aspx

1k to open and start investing. You do not need to leave money uninvested.

I only see one Vanguard fund available at SelectAccount.
https://www.selectaccount.com/wp-conten ... -Funds.pdf
danaht
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Re: Lowest HSA Fees

Post by danaht »

White Coat Investor wrote:
leonazul25 wrote:Opening an HSA for the first time this year. Will be using it as an IRA only. Will have it all invested and want something with access to low cost index funds. Which provider has the lowest fees if I will keep nothing in the savings account portion. HSABank looks too expensive. All my accounts are now with fidelity.
I use HSA bank. If you want to invest the whole thing (instead of leaving $5K in the bank account earning 0.5% interest) then it costs $6 a month, or $72 a year. I figure that's a return of 1.4%. If I can beat that, and I certainly expect VTI to in the long run, then I'm better off paying the fees and investing all the money. That's basically the only fee I pay. If I add in the 5 basis points VTI costs and spread that $72 over the entire $40K or so balance, I figure my total cost is something like 0.23%.

If that's "too expensive" for you to get a triple tax free account, I think your expectations are probably a little too high. I think my all in cost for the very low cost Utah 529 is higher than that. I think my Vanguard individual 401(k) costs are higher than that. My partnership 401(k)/PSP costs are certainly higher than that.

Investing isn't free. These companies have to make enough to stay in business.
+1 for HSA Bank. I leave ~$6000 in the savings account to avoid the fees. The rest is in Vanguard ETFs in TD Ameritrade. I consider the $6000 part of my emergency savings. It's too bad that my emergency savings can't always keep up with inflation.
*3!4!/5!
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Re: Lowest HSA Fees

Post by *3!4!/5! »

dignan wrote:"A balance of at least $1,000 is required in the HSA Checking account at the time the HSA Investment account is opened." http://www.thehsaauthority.com/hsa_inve ... vices.aspx

1k to open and start investing. You do not need to leave money uninvested.
Thanks for that info.
dignan wrote:I only see one Vanguard fund available at SelectAccount.
https://www.selectaccount.com/wp-conten ... -Funds.pdf
Ah that is very interesting. Your link
https://www.selectaccount.com/wp-conten ... -Funds.pdf
says "Updated 06/30/2015" and only has 1 Vanguard fund (NAESX).

The link I had found
https://www.selectaccount.com/wp-conten ... .31.15.pdf
says "Updated 09/30/2016" and has 4 Vanguard funds (NAESX,VFIAX,VIMAX,VWEAX).
(I found the link here https://www.selectaccount.com/products/hsa/#investments )

(It's odd that the "Updated 09/30/2016" has "03.31.15" in the web address. Also anyone clicking on these in the future may find the links broken, but it gives a historical snapshot now.)

That suggests the fund SelectAccount lineup recently got better, so is reasonable at the moment. I see that HSA Authority has a whole bunch (17) of Vanguard funds.
http://www.thehsaauthority.com/ContentD ... ntId=27248

ETA: Which accounts allow you to directly exchange fund to fund? In HealthEquity you have to directly do fund to cash and cash to fund. (OP sorry if I'm hijacking, but I think we're looking for the same information.)
MWormwood
Posts: 67
Joined: Fri Sep 23, 2016 11:03 am

Re: Lowest HSA Fees

Post by MWormwood »

dignan wrote:
*3!4!/5! wrote:
dignan wrote:
*3!4!/5! wrote:I hadn't seen HSA Authority and SelectAccount but they seem reasonable. Any gotchas? Dead cash requirements? Other fees?

How easy is it to enroll? What is it like transferring from another HSA?

It looks like they've got a few good funds (you really only need one), amongst a few dozen bad ones. There's no trading fee and no wrap fee, right?

My main concern would be if they change the fund lineup and leave you stranded with only bad choices.

They both, apparently, like many HSAs, use "Devenir Investment Advisors" to come up with the fund lineup. It looks like Devenir also runs http://www.hsasearch.com. I hope they're not motivated to make the fund lineup worse.
I transferred from LMCU and had no issues with HSA Authority. There were no "gotchas" that I ran into. They require $1000 to transfer funds into the investment account to start. There is no required balance in the HSA savings account. The only drawback is having to call to transfer funds from savings to investment. So I call once a month to transfer funds. They charge a $36 flat fee on the anniversary of when you opened the account. Every time I call, they are always courteous and helpful.
Is the $1000 just to start investing, or do you always have to leave $1000 uninvested?

You said
dignan wrote:I did a lot of research through hsasearch.com and decided on HSA Authority. They have a handful of low cost funds and only charge $36 per year. I discussed my experience in another thread - viewtopic.php?f=1&t=190993#p2985052
Did you consider SelectAccount or other HSAs?

SelectAccount has a few low cost Vanguard funds, but I'm wondering if it is a recent change (and if they may go away again).
"A balance of at least $1,000 is required in the HSA Checking account at the time the HSA Investment account is opened." http://www.thehsaauthority.com/hsa_inve ... vices.aspx

1k to open and start investing. You do not need to leave money uninvested.

I only see one Vanguard fund available at SelectAccount.
https://www.selectaccount.com/wp-conten ... -Funds.pdf
I have selectaccount and you have to leave the 1,000 uninvested. Which I calculate as a hidden $50/year fee based on assuming 5% potential investment growth that is sacrificed.
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