New HSA provider Lively offers investments for $30/yr fee

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
User avatar
indexfundfan
Posts: 2176
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Thu Feb 01, 2018 8:17 pm

KATNYC wrote:
Thu Feb 01, 2018 8:14 pm
indexfundfan wrote:
Thu Feb 01, 2018 8:12 pm
KATNYC wrote:
Thu Feb 01, 2018 10:29 am
KATNYC wrote:
Wed Jan 31, 2018 11:58 pm
Direct deposit hit today at my bank. I got an email from Lively that my HSA contribution posted.
I logged in and do not see it posted but it may take a bit to fully process.
It showed up by the time I logged in this morning and shows as contributed 1/31. I transferred the funds to TDAM.
Interesting information.

Do you know when did the employer push the money into Lively? Did they push on 1/31 and it is available for you to transfer to TDA on 2/1?
Payday was yesterday 1/31. Money was pushed to Lively 1/31. It was available per an email around 11: 55 pm but not there when I checked. Per Lively, it was available around 12:15 am although I didn't check a second time at 12:15 am. I transferred to TDAM on 2/1.
Hmm, it looks like if I push the money in, I can get the money to TDA in 2 business days instead of 5 business days when I use Lively to pull.
My signature has been deleted.

arsenal_fan
Posts: 36
Joined: Tue Nov 17, 2015 8:57 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by arsenal_fan » Thu Feb 01, 2018 9:13 pm

TropikThunder wrote:
Wed Jan 31, 2018 10:16 pm
broslami wrote:
Mon Jan 29, 2018 10:39 pm
arsenal_fan wrote:
Mon Jan 29, 2018 10:14 pm
Anyone advice on here move from people who've moved from HSA Bank + TDAmeritrade to Lively + TDAmeritrade? Need to do it soon and so am not sure if I need to sell (and rebuy) my investments in TDAmeritrade when I make the switch.
I'm actually in process of doing this exact thing right now. You just need to open up a new TD account through Lively and then tell them you want to transfer, and they'll send you the paperwork to sign to do this. Pretty easy.
I second this. You do need to set up a new TDA account through the Lively portal so that it's registered properly as a custodial account ("Lively HSA FBO your name") but once I submitted my request to transfer in-kind from HSA/TDA to Lively/TDA, it took only 2 days for the shares to show up in the new TDA account.

Quickest way is to email Lively support and tell them you want to do an in-kind transfer. They ask a few questions and fill out the form, you sign it electronically (actually, you take a photo of your signature and upload it), they submit it and voila. They're super friendly too.
Thanks a lot guys.

KATNYC
Posts: 434
Joined: Fri Apr 07, 2017 4:34 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Fri Feb 02, 2018 10:57 am

indexfundfan wrote:
Thu Feb 01, 2018 8:17 pm
KATNYC wrote:
Thu Feb 01, 2018 8:14 pm
indexfundfan wrote:
Thu Feb 01, 2018 8:12 pm
KATNYC wrote:
Thu Feb 01, 2018 10:29 am
KATNYC wrote:
Wed Jan 31, 2018 11:58 pm
Direct deposit hit today at my bank. I got an email from Lively that my HSA contribution posted.
I logged in and do not see it posted but it may take a bit to fully process.
It showed up by the time I logged in this morning and shows as contributed 1/31. I transferred the funds to TDAM.
Interesting information.

Do you know when did the employer push the money into Lively? Did they push on 1/31 and it is available for you to transfer to TDA on 2/1?
Payday was yesterday 1/31. Money was pushed to Lively 1/31. It was available per an email around 11: 55 pm but not there when I checked. Per Lively, it was available around 12:15 am although I didn't check a second time at 12:15 am. I transferred to TDAM on 2/1.
Hmm, it looks like if I push the money in, I can get the money to TDA in 2 business days instead of 5 business days when I use Lively to pull.
Transfer of cash posted with TDAM this morning around 2 am per the time stamp.
The Lively fee for January was .48 prorated.

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Fri Feb 02, 2018 11:12 am

KATNYC wrote:
Fri Feb 02, 2018 10:57 am
Transfer of cash posted with TDAM this morning around 2 am per the time stamp.
The Lively fee for January was .48 prorated.
I loved that they prorated the investment fee for the first month. Who does that? Lively charged me $1.05 on November 1, for my October investment fee.

My former custodian certainly charged me the full $2/month investment fee for October. But I did avoid the entire 4Q asset-based investment fee (5 bp per quarter) by not having any investment balance at the end of December.

KATNYC
Posts: 434
Joined: Fri Apr 07, 2017 4:34 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Fri Feb 02, 2018 11:42 am

jhfenton wrote:
Fri Feb 02, 2018 11:12 am
KATNYC wrote:
Fri Feb 02, 2018 10:57 am
Transfer of cash posted with TDAM this morning around 2 am per the time stamp.
The Lively fee for January was .48 prorated.
I loved that they prorated the investment fee for the first month. Who does that? Lively charged me $1.05 on November 1, for my October investment fee.

My former custodian certainly charged me the full $2/month investment fee for October. But I did avoid the entire 4Q asset-based investment fee (5 bp per quarter) by not having any investment balance at the end of December.
I actually forgot about it until I saw the Lively email reminder.

Is the $30 (or prorated amount) annual fee tax deductible since it's not paid from the HSA?
Per IRS “You can deduct investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income.” The HSA is for investment only, not for medical expenses. It's not producing taxable income so I am guessing the $30 isn't deductible.

DriftWood
Posts: 22
Joined: Sun Mar 16, 2014 12:38 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by DriftWood » Wed Feb 07, 2018 12:53 pm

I planed to switch my HSA from SelectAccount to Lively. But those SPDR core ETFs on TDA commission free list had me worried. They have smaller market cap, wider bid/ask spread and lower trading volume, compared with Vanguard counterparts (VTI, VXUS and BND). Another unknown for me is how good could the SPDR ETFs track their index. I will hold off switching and see if situations change.

EquityForAll
Posts: 13
Joined: Mon Apr 10, 2017 3:10 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by EquityForAll » Wed Feb 07, 2018 4:46 pm

Wanted to add a bit more to the Lively data set:

Jan 4 - Online sign-up 
Jan 6 - Verified ACH deposit amounts to link my account
Jan 10 - Signed Lively's trustee-transfer HelloSign form / received by SelectAccount
Jan 15 - Holiday
Jan 16 - SelectAccount processes account closure
Jan 22 - Check mailed from SelectAccount
Feb 5 - Transferred funds appear in Lively
Feb 5 - Initiated transfer to TDAM
Feb 7 - Funds appear in TDAM account

The transfer took far longer than I expected but this was solely due to SelectAccount's slow closure processing + mailing time.

In all, I'd recommend Lively as I corresponded with them several times throughout and always received quick and helpful responses. Their whole sign-up process was very easy. During my research into HSAs, I was turned off by the amount of paperwork some of the other custodians required—c'mon, it's 2018, no need to bring ink, paper, faxes, and notarized signatures into the mix! Saturna, I'm looking at you.

Not crazy about the lack of commission-free Vanguard ETFs at TD Ameritrade but I'll make do with some mix of SPTM, SPDW, SPEM, and SPAB/AGGY. But access to TD Ameritrade's charts and real-time analytics are great though; makes the Vanguard platform feel very bare-bones. Lively's website is easy to use as well.

If you're absolutely set on having only Vanguard funds in your HSA, I'd still recommend either SelectAccount or the HSA Authority (as they're both low-cost even though the actual selection of VG funds are limited).

TropikThunder
Posts: 994
Joined: Sun Apr 03, 2016 5:41 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Wed Feb 07, 2018 11:48 pm

EquityForAll wrote:
Wed Feb 07, 2018 4:46 pm
Wanted to add a bit more to the Lively data set:

Jan 4 - Online sign-up 
Jan 6 - Verified ACH deposit amounts to link my account
Jan 10 - Signed Lively's trustee-transfer HelloSign form / received by SelectAccount
Jan 15 - Holiday
Jan 16 - SelectAccount processes account closure
Jan 22 - Check mailed from SelectAccount
Feb 5 - Transferred funds appear in Lively
Feb 5 - Initiated transfer to TDAM
Feb 7 - Funds appear in TDAM account

The transfer took far longer than I expected but this was solely due to SelectAccount's slow closure processing + mailing time.

In all, I'd recommend Lively as I corresponded with them several times throughout and always received quick and helpful responses. Their whole sign-up process was very easy. During my research into HSAs, I was turned off by the amount of paperwork some of the other custodians required—c'mon, it's 2018, no need to bring ink, paper, faxes, and notarized signatures into the mix! Saturna, I'm looking at you.

Not crazy about the lack of commission-free Vanguard ETFs at TD Ameritrade but I'll make do with some mix of SPTM, SPDW, SPEM, and SPAB/AGGY. But access to TD Ameritrade's charts and real-time analytics are great though; makes the Vanguard platform feel very bare-bones. Lively's website is easy to use as well.

If you're absolutely set on having only Vanguard funds in your HSA, I'd still recommend either SelectAccount or the HSA Authority (as they're both low-cost even though the actual selection of VG funds are limited).
Thanks for the data point. I think the common theme has been that Lively is great but the "departing" custodian is hit or miss on their timelines. My current pet peeve is that Health Equity sits on the transfer request for a full week ("waiting for reimbursements requests to post") before they'll cut a check. :| This is after they claimed to not have received the request the first time Lively sent it.

TropikThunder
Posts: 994
Joined: Sun Apr 03, 2016 5:41 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Thu Feb 08, 2018 6:48 pm

TropikThunder wrote:
Wed Feb 07, 2018 11:48 pm
EquityForAll wrote:
Wed Feb 07, 2018 4:46 pm
Wanted to add a bit more to the Lively data set:
Thanks for the data point. I think the common theme has been that Lively is great but the "departing" custodian is hit or miss on their timelines. My current pet peeve is that Health Equity sits on the transfer request for a full week ("waiting for reimbursements requests to post") before they'll cut a check. :| This is after they claimed to not have received the request the first time Lively sent it.
To add to my anti-Health Equity screed: they processed my trustee-to-trustee to Lively today and charged me a $25 account closure fee even though the chat rep confirmed yesterday that I had marked "keep open" on the transfer form. :x Totally unacceptable, and I will not continue to route funds through them any more.

ETA summary:
They overcharge for Vanguard funds, they hold $2,000 hostage before letting you invest, they stall for a full week before processing a transfer, and then they close the account and charge $25 even when you tell them to keep it open. I even verified with the rep on chat yesterday that I had checked "keep open" and he told me they would close it anyway but he didn't say there would be a fee.
Last edited by TropikThunder on Thu Feb 08, 2018 6:57 pm, edited 1 time in total.

EquityForAll
Posts: 13
Joined: Mon Apr 10, 2017 3:10 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by EquityForAll » Thu Feb 08, 2018 6:55 pm

TropikThunder wrote:
Thu Feb 08, 2018 6:48 pm
TropikThunder wrote:
Wed Feb 07, 2018 11:48 pm
EquityForAll wrote:
Wed Feb 07, 2018 4:46 pm
Wanted to add a bit more to the Lively data set:
Thanks for the data point. I think the common theme has been that Lively is great but the "departing" custodian is hit or miss on their timelines. My current pet peeve is that Health Equity sits on the transfer request for a full week ("waiting for reimbursements requests to post") before they'll cut a check. :| This is after they claimed to not have received the request the first time Lively sent it.
To add to my anti-Health Equity screed: they processed my trustee-to-trustee to Lively today and charged me a $25 account closure fee even though the chat rep confirmed yesterday that I had marked "keep open" on the transfer form. :x Totally unacceptable, and I will not continue to route funds through them any more.
Same thing happened here when I moved from SelectAccount to Lively. I clearly marked "Keep Account Open" on Lively's transfer form but SelectAccount went ahead closed my account anyway after issuing their check.

TropikThunder
Posts: 994
Joined: Sun Apr 03, 2016 5:41 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Thu Feb 08, 2018 6:59 pm

EquityForAll wrote:
Thu Feb 08, 2018 6:55 pm
Same thing happened here when I moved from SelectAccount to Lively. I clearly marked "Keep Account Open" on Lively's transfer form but SelectAccount went ahead closed my account anyway after issuing their check.
OMG that's so frustrating! The rep yesterday said the next payroll contribution would reopen the account, and the rep today said they would credit the fee, but I'm just not going to deal with them anymore. So I made a lump sum ACH contribution directly to Lively for the rest of the year.

/rant complete

Now I just hope SPTM doesn't recover before I can get the funds over to TD Ameritrade. Although given the past week, who can say it WILL recover! :twisted:

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sat Feb 10, 2018 1:37 pm

indexfundfan wrote:
Thu Feb 01, 2018 8:17 pm
Hmm, it looks like if I push the money in, I can get the money to TDA in 2 business days instead of 5 business days when I use Lively to pull.
My wife's first (employer) payroll deposit went in yesterday, on payday. I forgot to check earlier in the day, but I received an email from Lively at 9:xx PM EST last night that an HSA contribution had posted. When I logged in it was there.

It was an entire 1/26 of $1,000, or $38.46. :P I can't complain about free money, but the absurdity of having to run $1,000 through her account two weeks at a time is...absurd. (I wish I could just give her employer the ACH information for my account. :twisted:)

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sat Feb 10, 2018 1:42 pm

EquityForAll wrote:
Thu Feb 08, 2018 6:55 pm
TropikThunder wrote:
Thu Feb 08, 2018 6:48 pm
To add to my anti-Health Equity screed: they processed my trustee-to-trustee to Lively today and charged me a $25 account closure fee even though the chat rep confirmed yesterday that I had marked "keep open" on the transfer form. :x Totally unacceptable, and I will not continue to route funds through them any more.
Same thing happened here when I moved from SelectAccount to Lively. I clearly marked "Keep Account Open" on Lively's transfer form but SelectAccount went ahead closed my account anyway after issuing their check.
Fifth-Third did the same thing to me the first time. I had talked to them several times in advance. They knew biweekly payroll deposits were going to continue coming in. I checked "Keep Account Open" on the transfer form. But they closed the account and charged me $25.

They did reopen the account and credit the $25, but I had to waste time calling them about it. And then I had to call again when their system automatically charged $10 for sending out a new debit card on the newly reopened account. :oops:

The second transfer I made, I left $25 behind, and everything went smoothly. No fees.

At least Fifth-Third processes the transfers quickly. I have no complaints on that front. :sharebeer

User avatar
indexfundfan
Posts: 2176
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Sat Feb 10, 2018 10:20 pm

jhfenton wrote:
Sat Feb 10, 2018 1:37 pm
indexfundfan wrote:
Thu Feb 01, 2018 8:17 pm
Hmm, it looks like if I push the money in, I can get the money to TDA in 2 business days instead of 5 business days when I use Lively to pull.
My wife's first (employer) payroll deposit went in yesterday, on payday. I forgot to check earlier in the day, but I received an email from Lively at 9:xx PM EST last night that an HSA contribution had posted. When I logged in it was there.
It looks like Lively only posts the credits after business hours, causing a business day delay if we want to move it to TDA. If they post it during business hours, the money could already be in TDA on the next business day.
My signature has been deleted.

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sun Feb 11, 2018 8:32 am

indexfundfan wrote:
Sat Feb 10, 2018 10:20 pm
jhfenton wrote:
Sat Feb 10, 2018 1:37 pm
indexfundfan wrote:
Thu Feb 01, 2018 8:17 pm
Hmm, it looks like if I push the money in, I can get the money to TDA in 2 business days instead of 5 business days when I use Lively to pull.
My wife's first (employer) payroll deposit went in yesterday, on payday. I forgot to check earlier in the day, but I received an email from Lively at 9:xx PM EST last night that an HSA contribution had posted. When I logged in it was there.
It looks like Lively only posts the credits after business hours, causing a business day delay if we want to move it to TDA. If they post it during business hours, the money could already be in TDA on the next business day.
It does look that way. It's probably a consequence of their being one step removed from the systems that really hold the money: Choice Financial and TD Ameritrade. I hope that in time Lively grows and is able to move "closer" to the money.

TD Ameritrade is inflexible too, on purchases prior to the cash being there. Vanguard allows ETF purchases in advance of funding in retirement accounts. You can buy and then fund with an ACH transfer or mutual fund sale. We had retirement accounts at TD Ameritrade for 17 years before we moved to Vanguard, and TD Ameritrade would never let us buy before the money was there.

User avatar
indexfundfan
Posts: 2176
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Sun Feb 11, 2018 12:38 pm

jhfenton wrote:
Sun Feb 11, 2018 8:32 am
TD Ameritrade is inflexible too, on purchases prior to the cash being there. Vanguard allows ETF purchases in advance of funding in retirement accounts. You can buy and then fund with an ACH transfer or mutual fund sale. We had retirement accounts at TD Ameritrade for 17 years before we moved to Vanguard, and TD Ameritrade would never let us buy before the money was there.
My experience: Schwab also lets you buy first and sell another holding to cover the debit later. But not Merrill Edge.
My signature has been deleted.

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sun Feb 11, 2018 12:44 pm

indexfundfan wrote:
Sun Feb 11, 2018 12:38 pm
jhfenton wrote:
Sun Feb 11, 2018 8:32 am
TD Ameritrade is inflexible too, on purchases prior to the cash being there. Vanguard allows ETF purchases in advance of funding in retirement accounts. You can buy and then fund with an ACH transfer or mutual fund sale. We had retirement accounts at TD Ameritrade for 17 years before we moved to Vanguard, and TD Ameritrade would never let us buy before the money was there.
My experience: Schwab also lets you buy first and sell another holding to cover the debit later. But not Merrill Edge.
Thanks. :beer I will file that away for future reference.

User avatar
indexfundfan
Posts: 2176
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Tue Mar 13, 2018 9:11 am

Has anyone transferred money from their bank to Lively recently? Two month ago, Lively said they are working on speeding up the transfer, so I'm wondering if anyone has any experience to share?
My signature has been deleted.

EquityForAll
Posts: 13
Joined: Mon Apr 10, 2017 3:10 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by EquityForAll » Tue Mar 13, 2018 4:23 pm

indexfundfan wrote:
Tue Mar 13, 2018 9:11 am
Has anyone transferred money from their bank to Lively recently? Two month ago, Lively said they are working on speeding up the transfer, so I'm wondering if anyone has any experience to share?
Via Lively's web interface, I initiated an ACH transfer from my bank to the HSA account. The transfer took about 5 business days to appear in Lively's dashboard so not exactly quick.

terran
Posts: 703
Joined: Sat Jan 10, 2015 10:50 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by terran » Fri Mar 16, 2018 3:01 pm

I found the timelines posted here helpful in know what to expect during this process, so here's what the process looked like me my recent transfer:
  • 3/1 - Requested distribution check from HSA Bank because the balance what above the daily limit for ACH withdrawals. Also opened account with Lively and was told to email them once the rollover had cleared my linked account and they would initiate a withdrawal so they could code it as a rollover.
  • 3/5 - Check dated 3/2 received and deposited in personal checking via mobile upload
  • 3/8 - check cleared personal checking and transfer to Lively initiated via email per Lively's instructions.
  • 3/9 - ACH withdrawal from personal checking
  • 3/13 - posted to Lively after hours (so didn't actually see it until 3/14)
  • 3/14 - Created TD Ameritrade account through Lively
  • 3/15 - TD Ameritrade account opened by the morning, which seems to support the suggestion that others have made that Lively does these things after hours. Initiated transfer of full balance to TD Ameritrade
  • 3/16 - Transfer showing in TD Ameritrade, and was able to trade in that account.
A $0 balance is showing at Lively as it should, but they're also showing a $0 investment balance which seems kind of odd. Has anyone noticed a delay between TD Ameritrade balances and investment Balances shown at Lively? Maybe that's updated once a day at close of business?

Anyway, it seems like it took a little longer than it really had to, but overall went pretty smoothly. I probably could have sped things up a bit by opening the TD Ameritrade account before the transfer to Lively completed, but that only would have reduced it by a day. Next year I should be able to make the transfer from Optum Bank (new employer sponsored HSA account) via ACH as the balance will only be one years worth of contributions.

I'm curious if emailing Lively to initiate the transfer is really necessary? Does it matter if it's coded as a rollover in terms of what they'll actually put on the tax forms? If so, can I have them code it as such after initiating a the transfer from the website?

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Fri Mar 16, 2018 3:17 pm

terran wrote:
Fri Mar 16, 2018 3:01 pm
A $0 balance is showing at Lively as it should, but they're also showing a $0 investment balance which seems kind of odd. Has anyone noticed a delay between TD Ameritrade balances and investment Balances shown at Lively? Maybe that's updated once a day at close of business?
The transfer to TD Ameritrade does always take overnight (next business day) to show up at TD Ameritrade. Transfer on Monday, invest on Tuesday.

And pushing money to Lively is faster than pulling. Others have complained about the speed of pulls as well, whereas my wife's payroll deposits show up on the evening of her payday.

I don't know about the rollover coding, because I've only done trustee-to-trustee transfers.

Welcome to Lively. :beer I'm still a happy customer, and I want them to succeed so I don't have to go elsewhere. :)

terran
Posts: 703
Joined: Sat Jan 10, 2015 10:50 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by terran » Fri Mar 16, 2018 3:22 pm

jhfenton wrote:
Fri Mar 16, 2018 3:17 pm
terran wrote:
Fri Mar 16, 2018 3:01 pm
A $0 balance is showing at Lively as it should, but they're also showing a $0 investment balance which seems kind of odd. Has anyone noticed a delay between TD Ameritrade balances and investment Balances shown at Lively? Maybe that's updated once a day at close of business?
And pushing money to Lively is faster than pulling. Others have complained about the speed of pulls as well, whereas my wife's payroll deposits show up on the evening of her payday.
Interesting, thanks!

I wonder if I can set up an ACH from my personal checking instead of the other way around? I guess I might look into that when next year's transfer comes around.

TreadLightly
Posts: 140
Joined: Mon Mar 19, 2018 2:30 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by TreadLightly » Sat Mar 24, 2018 12:59 am

Not that much time has passed, but is there anything new on Lively news? I've seen an argument here against the Vanguard alternatives from TDA suggesting they may not hold up as well, and I'm about to open with Lively vs SelectAccount.

ivk5
Posts: 358
Joined: Thu Sep 22, 2016 9:05 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by ivk5 » Sat Mar 24, 2018 1:25 am

I use SPTM (state st broad US market ETF) in my lively/TDA account with no qualms. Volume is certainly much lower but spreads are narrow enough for my comfort. I rarely should need to trade more than once per year. Over decades, a few cents of bid/ask spread or premium/discount don't seem worth worrying about.

asif408
Posts: 1425
Joined: Sun Mar 02, 2014 8:34 am
Location: Florida

Re: New HSA provider Lively offers investments for $30/yr fee

Post by asif408 » Sat Mar 24, 2018 7:16 am

TreadLightly wrote:
Sat Mar 24, 2018 12:59 am
Not that much time has passed, but is there anything new on Lively news? I've seen an argument here against the Vanguard alternatives from TDA suggesting they may not hold up as well, and I'm about to open with Lively vs SelectAccount.
If you compare their performance on Morningstar and look at the holdings, there is nothing to indicate they have performed much differently in the past or will in the future. What you have to do is ignore the Vanguards snobs and purists on this board who are numerous, they are analogous to religious and diet fanatics. The SPDR funds will likely do fine over the long haul.

I personally changed over to the SPDR funds at TD and have seen no discernible performance difference over the last several months compared to my Vanguard funds elsewhere.

TreadLightly
Posts: 140
Joined: Mon Mar 19, 2018 2:30 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by TreadLightly » Sat Mar 24, 2018 1:23 pm

ivk5 wrote:
Sat Mar 24, 2018 1:25 am
I use SPTM (state st broad US market ETF) in my lively/TDA account with no qualms. Volume is certainly much lower but spreads are narrow enough for my comfort. I rarely should need to trade more than once per year. Over decades, a few cents of bid/ask spread or premium/discount don't seem worth worrying about.
Thanks for the info!

nalor511
Posts: 229
Joined: Mon Jul 27, 2015 1:00 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by nalor511 » Tue Mar 27, 2018 11:27 pm

Stupid question to those of you with accounts, is the $30/y charged by Lively or TDA? Thanks in advance

saulg
Posts: 7
Joined: Sun Jun 25, 2017 10:10 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by saulg » Wed Mar 28, 2018 12:36 am

Charged by Lively and comes out of your linked bank account.

ulladulla28
Posts: 30
Joined: Sat Jan 14, 2017 9:26 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by ulladulla28 » Sat Apr 07, 2018 9:24 am

Just digging into some research about Lively and have a question for anyone who is a current Lively HSA user.

I am thinking of doing an annual rollover from my employer sponsored fifth third hsa. 53rd charges $25 for transfers, but as I understand you can do a manual rollover for free.

I am not a huge fan of investing in ETFs, and really prefer mutual funds. Are there any mutual fund offerings without transaction fees through the Lively/TDA platform?

I am hesitant to go through this process if there will be more fees charged to buy into mutual funds through TDA.

Thanks,

User avatar
indexfundfan
Posts: 2176
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Sat Apr 07, 2018 10:16 am

TDA does offer NTF mutual funds. But these generally have higher expense ratios.

For example, the cheapest NTF S&P500 index mutual fund is probably PREIX, with ER of 0.21%.
My signature has been deleted.

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sat Apr 07, 2018 11:08 am

ulladulla28 wrote:
Sat Apr 07, 2018 9:24 am
Just digging into some research about Lively and have a question for anyone who is a current Lively HSA user.

I am thinking of doing an annual rollover from my employer sponsored fifth third hsa. 53rd charges $25 for transfers, but as I understand you can do a manual rollover for free.

I am not a huge fan of investing in ETFs, and really prefer mutual funds. Are there any mutual fund offerings without transaction fees through the Lively/TDA platform?

I am hesitant to go through this process if there will be more fees charged to buy into mutual funds through TDA.

Thanks,
I would double-check with Fifth-Third. On my fee schedule, Fifth-Third shows a $25 account closure fee. But if you leave any money behind and leave the account open, there is no fee for transfers. I've done 3 trustee-to-trustee transfers since October with no fee. And for me, they have been very fast at processing the transfers. The money usually disappears the next or second business day after Lively faxes the transfer form to them, and Lively usually gets the check in about a week. Going forward, I'm doing quarterly trustee-to-trustee transfers from Fifth-Third to Lively. I just completed my most recent from last week to this week.

At TD Ameritrade, you're going to want to get over your preference for mutual funds and embrace ETFs. Their NTF ETF list has a lot of low-cost choices (mostly the SPDR Core Portfolio ETFs). Not so much for their NTF mutual fund list. And commissions on other ETFs are only $6.95 compared to $49.99 on TF mutual funds.

User avatar
Tamarind
Posts: 1136
Joined: Mon Nov 02, 2015 2:38 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by Tamarind » Sat Apr 07, 2018 1:44 pm

I'm about to sign up and try a trustee-to-trustee transfer from HealthEquity. I'm no longer eligible for HSA contributions since my new employer doesn't offer an HDHP, but at least I can get out from under HE's fees and let the balance accumulate. I LOVE that Lively lets you connect a bank account to pay the investment fee, so my money can stay in the HSA. I'll report back how it goes.

ulladulla28
Posts: 30
Joined: Sat Jan 14, 2017 9:26 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by ulladulla28 » Sat Apr 07, 2018 3:07 pm

Thanks for all the input!

Yes, I also do not like the cash drag on Fifth Third of $2,000 minimum in order to invest.

Also, it looks like they charge the regular $2.50 fee plus another $2/month to use investment, plus another 20 basis points on your investment. They do offer some low cost index funds, like Vanguard 500 Admiral, but the idea of leaving that $2k sitting there eroding to inflation and paying 20bp not tied to an expense ratio is hard to stomach.

I also saw HSA Authority, it seemed like a close second to Lively.

Curious to hear how it goes. Let us know, Tamarind!

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Mon Apr 09, 2018 1:56 pm

ulladulla28 wrote:
Sat Apr 07, 2018 3:07 pm
Thanks for all the input!

Yes, I also do not like the cash drag on Fifth Third of $2,000 minimum in order to invest.

Also, it looks like they charge the regular $2.50 fee plus another $2/month to use investment, plus another 20 basis points on your investment. They do offer some low cost index funds, like Vanguard 500 Admiral, but the idea of leaving that $2k sitting there eroding to inflation and paying 20bp not tied to an expense ratio is hard to stomach.
I do not not have a $2.50/month fee at Fifth-Third, just $2/month + 20 bp if I want to invest. Since I'm not investing with 5th/3rd any more, I don't have any fees, just the cash drag on whatever cash I accumulate between transfers. And since they don't charge (me) for transfers, I'm transferring $1,500 or so every quarter.

Fifth-Third raised the asset-based fee last summer from 10 bp to 20 bp, which is what finally inspired me to move my account just as Lively began to offer investments through TD Ameritrade. On just under $50,000 at the time, my asset-based fee jumped from $50/year to $100. Adding the $24/year and cash drag made moving a no-brainer. Now I pay $30/year (from outside the HSA) and have lower cash drag.

ulladulla28
Posts: 30
Joined: Sat Jan 14, 2017 9:26 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by ulladulla28 » Tue Apr 10, 2018 8:48 am

ulladulla28 wrote:
Sat Apr 07, 2018 3:07 pm
I do not not have a $2.50/month fee at Fifth-Third, just $2/month + 20 bp if I want to invest. Since I'm not investing with 5th/3rd any more, I don't have any fees, just the cash drag on whatever cash I accumulate between transfers. And since they don't charge (me) for transfers, I'm transferring $1,500 or so every quarter.

Fifth-Third raised the asset-based fee last summer from 10 bp to 20 bp, which is what finally inspired me to move my account just as Lively began to offer investments through TD Ameritrade. On just under $50,000 at the time, my asset-based fee jumped from $50/year to $100. Adding the $24/year and cash drag made moving a no-brainer. Now I pay $30/year (from outside the HSA) and have lower cash drag.
Does your employer pick up the hsa service fee? For me, it is scalable by cash balance. anywhere from $0 (balances over $4k) to $3.50 (balances under $500).

I decided to pull the trigger on the Lively HSA. Customer Service was great and the web platform is slick. The ability to store receipts and track expenses online is fantastic!

I guess I am going to get over the aversion to ETFs....

Does anyone have any insight on SPDR vs iShares ETFs or are they pretty much the same?

drk
Posts: 717
Joined: Mon Jul 24, 2017 10:33 pm
Location: Seattle

Re: New HSA provider Lively offers investments for $30/yr fee

Post by drk » Tue Apr 10, 2018 9:30 am

ulladulla28 wrote:
Tue Apr 10, 2018 8:48 am
ulladulla28 wrote:
Sat Apr 07, 2018 3:07 pm
I do not not have a $2.50/month fee at Fifth-Third, just $2/month + 20 bp if I want to invest. Since I'm not investing with 5th/3rd any more, I don't have any fees, just the cash drag on whatever cash I accumulate between transfers. And since they don't charge (me) for transfers, I'm transferring $1,500 or so every quarter.

Fifth-Third raised the asset-based fee last summer from 10 bp to 20 bp, which is what finally inspired me to move my account just as Lively began to offer investments through TD Ameritrade. On just under $50,000 at the time, my asset-based fee jumped from $50/year to $100. Adding the $24/year and cash drag made moving a no-brainer. Now I pay $30/year (from outside the HSA) and have lower cash drag.
Does your employer pick up the hsa service fee? For me, it is scalable by cash balance. anywhere from $0 (balances over $4k) to $3.50 (balances under $500).

I decided to pull the trigger on the Lively HSA. Customer Service was great and the web platform is slick. The ability to store receipts and track expenses online is fantastic!

I guess I am going to get over the aversion to ETFs....

Does anyone have any insight on SPDR vs iShares ETFs or are they pretty much the same?
I consider the SPDR Portfolio ETFs strictly worse than their iShares equivalents (maybe with the exception of SPDW if you would instead use IDEV rather than IEFA), but they're plenty serviceable. You might be interested in the wiki on TD Ameritrade and this thread discussing TDA's commission-free changes.

TIAX
Posts: 1134
Joined: Sat Jan 11, 2014 12:19 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by TIAX » Tue Apr 10, 2018 9:34 am

ulladulla28 wrote:
Tue Apr 10, 2018 8:48 am
I guess I am going to get over the aversion to ETFs....

Does anyone have any insight on SPDR vs iShares ETFs or are they pretty much the same?
The best options for Total Stock Market (SPTM), Total International Stock Market (SPDW and SPEM) and Total Bond Market (SPAB) are all SPDR. I would only consider iShares if I wanted international bonds (IAGG), U.S. REITs (USRT) or global REITs (REET). See this thread re the new commission free ETFs at TD Ameritrade.

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Tue Apr 10, 2018 9:38 am

ulladulla28 wrote:
Tue Apr 10, 2018 8:48 am
Does your employer pick up the hsa service fee? For me, it is scalable by cash balance. anywhere from $0 (balances over $4k) to $3.50 (balances under $500).
They apparently do. I see the fee and sliding scale further down the fee schedule in my account, but it is not listed at the top under the applicable fees.
ulladulla28 wrote:
Tue Apr 10, 2018 8:48 am
I decided to pull the trigger on the Lively HSA. Customer Service was great and the web platform is slick. The ability to store receipts and track expenses online is fantastic!

I guess I am going to get over the aversion to ETFs....

Does anyone have any insight on SPDR vs iShares ETFs or are they pretty much the same?
I have been very happy with their customer service. I email them in the morning with my request for a transfer, and they will send me a completed transfer form for digital signature by the end of the day.

Performance-wise, they should be pretty much the same. I'd strongly favor the cheapest funds on the commission-free list, which for most asset classes means the SPDR Core Portfolio ETFs.

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Wed Apr 25, 2018 12:12 pm

I just received an email from Lively today. They now have a very simple online form to initiate transfers. It wasn't time for my quarterly transfer yet, but I decided to go ahead and try it again with just a single month's contributions in employer HSA. (I leave $25.xx behind.)

I'd do monthly transfers all the time if I weren't afraid it would trigger Fifth-Third bank to impose a fee for transfers.

Edited: The online transfer request form generates a transfer form that is sent via email for digital signature. It's the same digital signature platform and form that they've used since last fall, it's just generated based on a web request rather than an email request. (I don't know if it's automated or not.)

Muse94552
Posts: 4
Joined: Thu Apr 26, 2018 12:18 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by Muse94552 » Thu Apr 26, 2018 1:07 pm

HI there, I just joined the bogleheads this morning, seeking insight into HSA custodian options. I only recently became aware of the 'once-in-a-lifetime' allowed Qualified Distribution from an (non-SEP, Non-SIMPLE) IRA to fund an HSA. I used to have an HSA years ago, and it seems now nearly all the 'rules' have changed, but I won't bother you with that.
The maximum allowed Qualified distribution is only one year maximum contribution, so I'm seeking low/no-fee, no maintenance HSA account with investment options. It sounds like Lively fits the requirements. I've read here that you need to create a linked bank account to pay the $2.50/month maint fee. Can someone please share with me-
1. Does this linked Lively bank account also carry fees, or minimum balance requirement?
2. Does the linked TDA account carry a fee other than any trade transaction cost?
3. Does TDA offer no-fee Mutual funds?
4. haha! Does Lively provide you with a debit card to pay the doc? Are there transaction fees at point of use?

thank you so much, I hope I am not asking questions already answered! If so, my apologies,
Muse94552

User avatar
grabiner
Advisory Board
Posts: 22556
Joined: Tue Feb 20, 2007 11:58 pm
Location: Columbia, MD

Re: New HSA provider Lively offers investments for $30/yr fee

Post by grabiner » Thu Apr 26, 2018 7:31 pm

Welcome to the forum!
Muse94552 wrote:
Thu Apr 26, 2018 1:07 pm
HI there, I just joined the bogleheads this morning, seeking insight into HSA custodian options. I only recently became aware of the 'once-in-a-lifetime' allowed Qualified Distribution from an (non-SEP, Non-SIMPLE) IRA to fund an HSA. I used to have an HSA years ago, and it seems now nearly all the 'rules' have changed, but I won't bother you with that.
The maximum allowed Qualified distribution is only one year maximum contribution, so I'm seeking low/no-fee, no maintenance HSA account with investment options.
The qualified distribution rule is not that useful. If you are contributing to an IRA or 401(k), you can contribute to an HSA instead and have the same effect. If you are retired and are withdrawing from your retirement accounts, you can withdraw from an IRA or 401(k) and contribute to an HSA, also with the same effect; the IRA withdrawal is taxed, but the HSA contribution is tax-deductible. The one-time qualified distribution is only a benefit if you don't have another source of the money; for example, if you are unemployed for much of a year and would have a penalty for tapping your 401(k) because you haven't met the age limit.

And it is worth contributing the maximum to an HSA every year you are eligible, out of whatever source you can, because of the tax benefit.
Wiki David Grabiner

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Thu Apr 26, 2018 9:16 pm

Muse94552 wrote:
Thu Apr 26, 2018 1:07 pm
1. Does this linked Lively bank account also carry fees, or minimum balance requirement?
2. Does the linked TDA account carry a fee other than any trade transaction cost?
3. Does TDA offer no-fee Mutual funds?
4. haha! Does Lively provide you with a debit card to pay the doc? Are there transaction fees at point of use?
1. The linked bank account would simply be your regular bank account. They use it to withdraw the $2.50 monthly fee and deposit any distributions. The fees on the linked account are whatever they are independent of Lively.

2. No. Their are no recurring fees, only standard brokerage commissions and fees.

3. Yes, they have NTF mutual funds, but their commission-free ETF list has better choices.

4. Yes. They do automatically send you a debit card. You would need to have cash in the Lively account to use it. It cannot pull from your investments at TDA.

tenkuky
Posts: 483
Joined: Sun Dec 14, 2014 4:28 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by tenkuky » Sat Apr 28, 2018 6:14 am

Tamarind wrote:
Sat Apr 07, 2018 1:44 pm
I'm about to sign up and try a trustee-to-trustee transfer from HealthEquity. I'm no longer eligible for HSA contributions since my new employer doesn't offer an HDHP, but at least I can get out from under HE's fees and let the balance accumulate. I LOVE that Lively lets you connect a bank account to pay the investment fee, so my money can stay in the HSA. I'll report back how it goes.
Tamarind:
Can you report on your experience?
I want to do this in the future, my employer newly offering HDHP+HealthEquity HSA but I am not a fan of their lack of transparency and fees, and the cash drag of $2000.
Did you incur an issue/fees for low balance etc on the HE end?
How long did it take and what did it cost?
Thanks!

User avatar
Tamarind
Posts: 1136
Joined: Mon Nov 02, 2015 2:38 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by Tamarind » Sat Apr 28, 2018 7:32 am

tenkuky wrote:
Sat Apr 28, 2018 6:14 am
Tamarind wrote:
Sat Apr 07, 2018 1:44 pm
I'm about to sign up and try a trustee-to-trustee transfer from HealthEquity. I'm no longer eligible for HSA contributions since my new employer doesn't offer an HDHP, but at least I can get out from under HE's fees and let the balance accumulate. I LOVE that Lively lets you connect a bank account to pay the investment fee, so my money can stay in the HSA. I'll report back how it goes.
Tamarind:
Can you report on your experience?
I want to do this in the future, my employer newly offering HDHP+HealthEquity HSA but I am not a fan of their lack of transparency and fees, and the cash drag of $2000.
Did you incur an issue/fees for low balance etc on the HE end?
How long did it take and what did it cost?
Thanks!
Very easy to initiate from the Lively side (and I received an email saying they have since added rollover initiation as an in-app feature so there's not even a need to send a separate form).

HE has frozen my account but not yet transferred the money out or even sold my investment holdings. I'll update again here if there are any issues or when the transfer starts.

tenkuky
Posts: 483
Joined: Sun Dec 14, 2014 4:28 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by tenkuky » Mon Apr 30, 2018 9:08 am

Tamarind wrote:
Sat Apr 28, 2018 7:32 am
tenkuky wrote:
Sat Apr 28, 2018 6:14 am
Tamarind wrote:
Sat Apr 07, 2018 1:44 pm
I'm about to sign up and try a trustee-to-trustee transfer from HealthEquity. I'm no longer eligible for HSA contributions since my new employer doesn't offer an HDHP, but at least I can get out from under HE's fees and let the balance accumulate. I LOVE that Lively lets you connect a bank account to pay the investment fee, so my money can stay in the HSA. I'll report back how it goes.
Tamarind:
Can you report on your experience?
I want to do this in the future, my employer newly offering HDHP+HealthEquity HSA but I am not a fan of their lack of transparency and fees, and the cash drag of $2000.
Did you incur an issue/fees for low balance etc on the HE end?
How long did it take and what did it cost?
Thanks!
Very easy to initiate from the Lively side (and I received an email saying they have since added rollover initiation as an in-app feature so there's not even a need to send a separate form).

HE has frozen my account but not yet transferred the money out or even sold my investment holdings. I'll update again here if there are any issues or when the transfer starts.
Thanks, looking forward to update. I did my homework with HR and got the understanding there are no monthly fees from HealthEquity, will do transfer/rollover but not close account to avoid the $25 fee. I will start talking to Lively and set things up.

User avatar
Tamarind
Posts: 1136
Joined: Mon Nov 02, 2015 2:38 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by Tamarind » Tue May 01, 2018 6:15 am

Tamarind wrote:
Sat Apr 28, 2018 7:32 am
tenkuky wrote:
Sat Apr 28, 2018 6:14 am
Tamarind wrote:
Sat Apr 07, 2018 1:44 pm
I'm about to sign up and try a trustee-to-trustee transfer from HealthEquity. I'm no longer eligible for HSA contributions since my new employer doesn't offer an HDHP, but at least I can get out from under HE's fees and let the balance accumulate. I LOVE that Lively lets you connect a bank account to pay the investment fee, so my money can stay in the HSA. I'll report back how it goes.
Tamarind:
Can you report on your experience?
I want to do this in the future, my employer newly offering HDHP+HealthEquity HSA but I am not a fan of their lack of transparency and fees, and the cash drag of $2000.
Did you incur an issue/fees for low balance etc on the HE end?
How long did it take and what did it cost?
Thanks!
Very easy to initiate from the Lively side (and I received an email saying they have since added rollover initiation as an in-app feature so there's not even a need to send a separate form).

HE has frozen my account but not yet transferred the money out or even sold my investment holdings. I'll update again here if there are any issues or when the transfer starts.
Arghhhh. 3 weeks in to the transfer, HealthEquity sends me a letter saying that they'd love to transfer my holdings but they can't because the funds are still invested. No indication until now that that was the cause of the holdup. Took me 5 minutes to execute the sell order, but I'm sure it'll take days to settle. In the meantime, now I've left my sponsoring employer, HE has started charging me the monthly fee they had been waiving.

I'll call HE today and see if I can move this along.

I've never heard of an investment company that wouldn't just liquidate investments upon request for account closure.

tenkuky
Posts: 483
Joined: Sun Dec 14, 2014 4:28 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by tenkuky » Tue May 01, 2018 6:44 am

Tamarind wrote:
Tue May 01, 2018 6:15 am
Tamarind wrote:
Sat Apr 28, 2018 7:32 am
tenkuky wrote:
Sat Apr 28, 2018 6:14 am
Tamarind wrote:
Sat Apr 07, 2018 1:44 pm
I'm about to sign up and try a trustee-to-trustee transfer from HealthEquity. I'm no longer eligible for HSA contributions since my new employer doesn't offer an HDHP, but at least I can get out from under HE's fees and let the balance accumulate. I LOVE that Lively lets you connect a bank account to pay the investment fee, so my money can stay in the HSA. I'll report back how it goes.
Tamarind:
Can you report on your experience?
I want to do this in the future, my employer newly offering HDHP+HealthEquity HSA but I am not a fan of their lack of transparency and fees, and the cash drag of $2000.
Did you incur an issue/fees for low balance etc on the HE end?
How long did it take and what did it cost?
Thanks!
Very easy to initiate from the Lively side (and I received an email saying they have since added rollover initiation as an in-app feature so there's not even a need to send a separate form).

HE has frozen my account but not yet transferred the money out or even sold my investment holdings. I'll update again here if there are any issues or when the transfer starts.
Arghhhh. 3 weeks in to the transfer, HealthEquity sends me a letter saying that they'd love to transfer my holdings but they can't because the funds are still invested. No indication until now that that was the cause of the holdup. Took me 5 minutes to execute the sell order, but I'm sure it'll take days to settle. In the meantime, now I've left my sponsoring employer, HE has started charging me the monthly fee they had been waiving.

I'll call HE today and see if I can move this along.

I've never heard of an investment company that wouldn't just liquidate investments upon request for account closure.
I feel your pain, Tamarind and thanks for this update, it will help immensely in the future. HE finally got around to fee disclosures yesterday, and it reflected the same thing you learned, they will start monthly fee on separation. I am going to start with HE just to get a balance going, but will remember to sell investments or just move everything to Lively without investing to avoid the cash drag.

international001
Posts: 403
Joined: Thu Feb 15, 2018 7:31 pm

Re: New HSA provider Lively offers investments for $30/yr fee

Post by international001 » Tue May 01, 2018 7:41 am

ulladulla28 wrote:
Sat Apr 07, 2018 3:07 pm
Thanks for all the input!

Yes, I also do not like the cash drag on Fifth Third of $2,000 minimum in order to invest.

Also, it looks like they charge the regular $2.50 fee plus another $2/month to use investment, plus another 20 basis points on your investment. They do offer some low cost index funds, like Vanguard 500 Admiral, but the idea of leaving that $2k sitting there eroding to inflation and paying 20bp not tied to an expense ratio is hard to stomach.

I also saw HSA Authority, it seemed like a close second to Lively.

Curious to hear how it goes. Let us know, Tamarind!
So what are lively fees on ivestment? 0.20% annual? Is like the 0.40% Healthequity charges?

I couldn't find this information online

ivk5
Posts: 358
Joined: Thu Sep 22, 2016 9:05 am

Re: New HSA provider Lively offers investments for $30/yr fee

Post by ivk5 » Tue May 01, 2018 8:05 am

international001 wrote:
Tue May 01, 2018 7:41 am
So what are lively fees on ivestment? 0.20% annual? Is like the 0.40% Healthequity charges?

I couldn't find this information online
Summarized at top of thread: just $2.50/month, drawn from outside bank acct (doesn't erode the HSA balance).

No other recurring charges or AUM fees from Lively or TDA, if you stick to TDA's list of commission-free ETFs. They dropped VG ETFs from that list recently, unfortunately, but there are other BH-compatible options, like the SPDR total market ETF (SPTM) at ER around 0.03 (from memory).
indexfundfan wrote:
Tue Sep 26, 2017 9:00 pm
Lively, a startup, offers HSA accounts with "first dollar" investing for $2.50/month ($30/year). Investments are held at TD Ameritrade.

https://livelyme.com/individual-and-fam ... es/invest/

User avatar
jhfenton
Posts: 3254
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Tue May 01, 2018 8:42 am

international001 wrote:
Tue May 01, 2018 7:41 am
So what are lively fees on ivestment? 0.20% annual? Is like the 0.40% Healthequity charges?

I couldn't find this information online
Lively charges a $2.50/month flat fee to open and maintain a linked brokerage account with TD Ameritrade. They take the fee from a linked checking account, rather than from inside the HSA.

Lively does not charge any asset-based fees.

Post Reply