Transferring out HSA in kind

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MrJones
Posts: 295
Joined: Sat Mar 18, 2017 2:23 am

Transferring out HSA in kind

Post by MrJones » Sat May 11, 2019 10:19 pm

I have an HSA account at Cigna through my employer. They offer a self directed brokerage option at TD Ameritrade, where I have substantial assets in Vanguard Total Stock Market ETF. I've been extremely disappointed with customer service at TD Ameritrade on multiple occasions and would like to move my assets over to a Fidelity HSA.

I live in CA, and hence, selling would trigger state capital gains. Can I move over my assets in kind? How, and what will it cost me, given Cigna is in the middle? Is this a good idea given I need to leave my Cigna employer account open, and transfer money each time there is a deposit?

Thank you.

Topic Author
MrJones
Posts: 295
Joined: Sat Mar 18, 2017 2:23 am

Re: Transferring out HSA in kind

Post by MrJones » Sun May 12, 2019 10:48 am

Bump.

NYCguy
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Re: Transferring out HSA in kind

Post by NYCguy » Sun May 12, 2019 11:20 am

I just completed a direct transfer from another HSA provider to Fidelity. It was pretty straightforward and painless. I recommend you call Fidelity and they will walk you through the online forms to complete the direct transfer. It looks like they’re set up to work with most large financial institutions to complete direct transfers.

It took about three weeks to complete and I was uninvested for about 10 days due to feet dragging by my old HSA provider. I’m glad it is done.
If your out-go is greater than your income, your upkeep will be your DOWNFALL.

Spirit Rider
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Re: Transferring out HSA in kind

Post by Spirit Rider » Sun May 12, 2019 12:25 pm

Do you live in CA or NJ where state taxes on the capital gains apply?

If not, and you are simply trying to minimize any risk from being out of the market, you are probable better off selling and transferring cash.

danaht
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Joined: Sun Oct 18, 2015 11:28 am

Re: Transferring out HSA in kind

Post by danaht » Sun May 12, 2019 12:44 pm

I transferred all my assets from TD Ameritrade/HSA Bank to Fidelity. I was easily able to move the ETFs in kind. There is another thread that has a lot of posts about this: viewtopic.php?f=10&t=263661

Topic Author
MrJones
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Joined: Sat Mar 18, 2017 2:23 am

Re: Transferring out HSA in kind

Post by MrJones » Tue May 14, 2019 10:43 pm

NYCguy wrote:
Sun May 12, 2019 11:20 am
It took about three weeks to complete and I was uninvested for about 10 days due to feet dragging by my old HSA provider. I’m glad it is done.
I'm looking to do an in-kind transfer where there is no question of being uninvested.

Topic Author
MrJones
Posts: 295
Joined: Sat Mar 18, 2017 2:23 am

Re: Transferring out HSA in kind

Post by MrJones » Tue May 14, 2019 10:44 pm

danaht wrote:
Sun May 12, 2019 12:44 pm
I transferred all my assets from TD Ameritrade/HSA Bank to Fidelity. I was easily able to move the ETFs in kind. There is another thread that has a lot of posts about this: viewtopic.php?f=10&t=263661
Great thread, thanks for the pointer, danaht!

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