What’s the Best HSA out there?

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Topic Author
SarahS
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What’s the Best HSA out there?

Post by SarahS » Mon Jan 28, 2019 3:36 pm

My goals are:

1. Minimal (ideally zero) account fees (for startup, maintenance, transactional, or other fluff fees)
2. Vanguard or Fidelity mutual fund investment options
3. Can be opened by an individual, instead of through an employer
Last edited by SarahS on Mon Jan 28, 2019 3:44 pm, edited 1 time in total.

mhalley
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Re: What’s the Best HSA out there?

Post by mhalley » Mon Jan 28, 2019 3:39 pm

Its too early to tell, but Fidelity just launched an hsa with zero fees. I think Lively has also cut their fees.

Topic Author
SarahS
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Re: What’s the Best HSA out there?

Post by SarahS » Mon Jan 28, 2019 3:44 pm

I had heard that about Fidelity. Does it need to be coordinated through the employer, or can it be opened by an individual? (I’m updating my preferences above to include the latter option).

increment
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Re: What’s the Best HSA out there?

Post by increment » Mon Jan 28, 2019 3:48 pm

You can open the Fidelity zero-fee HSA as an individual. (I think that I read their their employer-based HSA is not generally available at zero fees.)

SoupCanStevens
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Re: What’s the Best HSA out there?

Post by SoupCanStevens » Mon Jan 28, 2019 4:14 pm

+1 for Fidelity (although I have it through my employer - but excellent as an individual)

I use Fidelity Money Market for my small core position and invest the rest in Total US Market/Total International Index Funds, but I haven't switched over to the zero-fee funds yet since the expenses on these funds are already so low that it's probably a wash. Maybe one day soon.

FYI, I've never seen a fee being deducted, so I assume my employer pays it, but I should probably double-check that:
"Generally, Fidelity HSAs are subject to an annual account maintenance fee. This fee may be paid by your employer or deducted from your account on a quarterly basis. Other fees may apply. Refer to the Brokerage Commission Schedule of Fees in the Fidelity Brokerage HSA Customer Agreement or on NetBenefits for more information."

asif408
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Re: What’s the Best HSA out there?

Post by asif408 » Mon Jan 28, 2019 4:49 pm

I think Fidelity and Lively are the only two with no fees and no minimum to invest or hold in savings to invest. I personally use Lively, because I set it up before Fidelity offered theirs. You can use commission free ETFs from TDAmeritrade at Lively, which don't include Vanguard or Fidelity mutual funds but do have State Street ETFs that are just as cheap or cheaper and will do the job performance wise, unless you are snob when it comes to providers of the funds. I personally am not, so am happy with the options.

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brisni
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Re: What’s the Best HSA out there?

Post by brisni » Mon Jan 28, 2019 5:25 pm

A few weeks ago I rolled mine into Fidelity. I had an HDHP + HSA through my employer and had accumulated all the contributions for several years.
It is now entirely invested in Fidelity's zero-fee total market index fund, so I guess I can brag it is a 100% zero-fee HSA.

runner3081
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Re: What’s the Best HSA out there?

Post by runner3081 » Mon Jan 28, 2019 5:27 pm

mhalley wrote:
Mon Jan 28, 2019 3:39 pm
Its too early to tell, but Fidelity just launched an hsa with zero fees. I think Lively has also cut their fees.
Interesting, wonder if my employer plan through Fidelity will drop their fees now?

Spirit Rider
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Re: What’s the Best HSA out there?

Post by Spirit Rider » Mon Jan 28, 2019 5:52 pm

runner3081 wrote:
Mon Jan 28, 2019 5:27 pm
mhalley wrote:
Mon Jan 28, 2019 3:39 pm
Its too early to tell, but Fidelity just launched an hsa with zero fees. I think Lively has also cut their fees.
Interesting, wonder if my employer plan through Fidelity will drop their fees now?
Not likely. Fidelity's website specifically states that fees still apply to employer plans.

The no-fee individual HSA was a market competition decision.

Corgitodd
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Re: What’s the Best HSA out there?

Post by Corgitodd » Mon Jan 28, 2019 7:15 pm

I went with HSA Authority last summer because it seemed cheapest to access Vanguard funds, specifically Wellington Admiral at a $1000.00 entry. I then learned of Fidelity. Havent decided yet to transfer or not, was waiting to hear some Fidelity reviews.

Spirit Rider
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Re: What’s the Best HSA out there?

Post by Spirit Rider » Mon Jan 28, 2019 7:45 pm

Keep in mind that if you used a rollover last summer you will have to move by trustee -> trustee until it as been one year.

angelescrest
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Re: What’s the Best HSA out there?

Post by angelescrest » Thu Feb 07, 2019 8:02 pm

I’m considering Lively or the new Fidelity HSA.

I have most of my investment accounts through TDAmeritrade, and want to move my credit union housed HSA. If I go with Lively, does that mean I can link my accounts up to and login through the TDA web interface? Or do I have to do everything through the Lively website? I never understood what it meant for either Lively or HSA Bank using TDA, and what that process looked like. If it’s cumbersome, I’d rather use Fidelity.

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jhfenton
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Re: What’s the Best HSA out there?

Post by jhfenton » Thu Feb 07, 2019 8:12 pm

angelescrest wrote:
Thu Feb 07, 2019 8:02 pm
I’m considering Lively or the new Fidelity HSA.

I have most of my investment accounts through TDAmeritrade, and want to move my credit union housed HSA. If I go with Lively, does that mean I can link my accounts up to and login through the TDA web interface? Or do I have to do everything through the Lively website? I never understood what it meant for either Lively or HSA Bank using TDA, and what that process looked like. If it’s cumbersome, I’d rather use Fidelity.
You can log directly into your TD Ameritrade HSA, and you can link your TD Ameritrade HSA to your other TD Ameritrade accounts so that you can see them all together.

You can also log into your TD Ameritrade HSA through the Lively website via single-sign-on, but that is not the only way. On the Lively website, you will see your Lively-held cash and the previous day's balance from TD Ameritrade. You can push Lively-side cash to TD Ameritrade, and you can pull available cash from TD Ameritrade to Lively. It takes one day to move cash in each direction. Medical expense reimbursements have to come from the Lively side.

That one-day delay moving cash between the two sub-accounts is the only cumbersome part.

I moved mine from Lively to Fidelity before Lively dropped their fees. I also have my 401(k) at Fidelity. If I had most of my investments at TD Ameritrade anyway, I'd probably go with Lively. Lively's customer service is top-notch.

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White Coat Investor
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Re: What’s the Best HSA out there?

Post by White Coat Investor » Thu Feb 07, 2019 8:36 pm

SarahS wrote:
Mon Jan 28, 2019 3:36 pm
My goals are:

1. Minimal (ideally zero) account fees (for startup, maintenance, transactional, or other fluff fees)
2. Vanguard or Fidelity mutual fund investment options
3. Can be opened by an individual, instead of through an employer
Fidelity or Lively.
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

NewOldGuy
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Re: What’s the Best HSA out there?

Post by NewOldGuy » Thu Feb 07, 2019 9:03 pm

We are here... https://mybenefitwallet.com/about-us.html only because my wife was there before she retired last year. I would not recommend them. Slow, clunky, and off shore support. The good news is they recently brought many Vanguard fund choices in which to invest.

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segfault
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Re: What’s the Best HSA out there?

Post by segfault » Thu Feb 07, 2019 10:59 pm

The Optum HSA I have through my employer charges $1/month maintenance fee, minimum $2,000 in the savings account, and offers Schwab target date funds on the investment side, with no asset fee. I moved all of my old HSAs there.

Jags4186
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Re: What’s the Best HSA out there?

Post by Jags4186 » Mon Jun 10, 2019 9:17 pm

Hi sorry to bump this post. I current have my HSA at HSA Bank and invest through TD Ameritrade. My employer covers all of the HSA bank fees. We are switching to my wife’s health plan on July 1. Her HSA is at a local credit union that does not offer an investment option.

To confirm what we should be doing:

1) I should open a Fidelity HSA in my name and do an ACAT transfer to Fidelity. That money can sit there forever until I decide to use it.

2) My wife should open a Fidelity account in her name and we can periodically transfer money from her local credit union HSA to her Fidelity account in order to invest.

Is this correct?

Spirit Rider
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Re: What’s the Best HSA out there?

Post by Spirit Rider » Tue Jun 11, 2019 7:08 am

1. Yes 2. Yes, but...

She can only do one (1) fee-free indirect HSA rollover every 12-month period. She can do unlimited trustee -> trustee transfers, but many HSA custodians charge a $20 - $25 transfer "push". Fidelity will do an initial and unusal transfer "pull" as part of account setup and funding.

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