Optum HSA to Fidelity transfer time

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Joined: Tue Apr 02, 2019 1:07 pm

Optum HSA to Fidelity transfer time

Post by ny10036 »


I have an HSA with Optum through my current employer and I transfer cash from Optum to Fidelity once in a while.

I've only done this twice so far and the second one is still unresolved. I initiated the transfer from Fidelity on 12/9, Optum deducted in from my account on 12/27 and it still has not landed in my Fidelity HSA as of today, 1/12.

I wasn't paying attention the first time, though it was slow (almost, but not quite a month), and now that I look at the messages from Fidelity, it looks like Optum is mailing a check! In this day and age.

For those of you who have done this transfer, what's the longest it's taken? And what's the best way to escalate this issue if the money hasn't landed at Fidelity in 2 months? 3 months?
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Re: Optum HSA to Fidelity transfer time

Post by smartpants »

I initiated the transfer yesterday, 02/14/2023 and Fidelity's web page stated that the transfer would be completed by 03/20.
Apparently Optum is sending a paper check, that's why it takes 4-5 weeks.
So it smells like Optum is holding on to the money as long as possible and raking in the interest until the check clears. But that seems to be normal behavior - wife moved a 401(k) and they held on to 300k$ for about a month.
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Joined: Wed Sep 09, 2009 8:46 pm

Re: Optum HSA to Fidelity transfer time

Post by clemrick »

I do a rollover once a year. The money lands in my bank account in a couple days, and then I have Fidelity pull it out of my bank account. It usually takes less than a week for the whole thing.
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Re: Optum HSA to Fidelity transfer time

Post by TheDogFather »

I closed one HSA account on 1/12, they mailed a check on 2/10 and the new HSA was credited on 2/13.
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