Goldman sachs erroneous option trades

It grows tax-free and, if spent on health care, can be withdrawn tax-free now or in retirement. Since I recently transitioned to a high-deductible health plan, I am now eligible for an HSA. You can use any provider you like. There are plenty of choices out there for an HSA provider. Since I plan to use the account primarily as a Stealth IRAI am most interested in low fees and good investing options. These are the companies I considered using.

They provide free checks and a debit card and basically have no fees at all. If the investing options were better, this would be a great choice for me. Most fees are waived with the premier checking option. HSA Bank offers a graduated rate from 0. I actually met the owner of HSA Administrators at a Bogleheads conference, and he seemed to be a great guy.

They are very up-front about fees, and use Vanguard funds for their investment options and in fact Vanguard links tl them on their site. Both charge a minimal fee for checks, but offer debit card transactions if you choose credit instead of putting in your PIN for free. HSA Administrators also charges another fee, 0.

The Vanguard funds offered are reasonable, and mostly offered as Admiral funds with expense ratios similar to the ETFs you can get through TD Ameritrade at HSA Bank. I think HSA Bank has really taken the wind out of their sails with their TD Ameritrade option offering free Vanguard ETF trades, and so have a hard time recommending HSA Administrators over HSA Bank.

Fidelity is also in the HSA game, offering their usual assortment of brokerage options and mutual funds. Check fees are also minimal just like with HSA Bank and HSA Administrators. One downside is that your cash in the sweep account is only making 0.

But if you already have a lot of money with Fidelity, and plan to completely invest your HSA, this may be your best option.

Wells Fargo offers rates of 0. Adirondack offers a rate of 2. Unfortunately, there is no investment option. Lake Michigan is currently offering rates of 1. I called them up and the only option is to buy CDs. Bank of the Sierra offers rates of 1. There are no decent investing options anyone on the phone could tell me about. A partner or independent contractor need not worry about that as he pays his payroll taxes independently. You can cancel or change your preferences at any time and I won't spam you.

Enter your email address here!

As you wrote, the website seems to indicate they do offer to individuals, so I also called them. I contacted them yesterday. Odds are they only want to focus on capturing the large volume business accounts. Health equity also has a nice program http: Their service representatives are very knowledgeable and always check if they are unsure of anything. I also opened HSA early this year in HealthEquity.

Good thing was that my health insurance company pays set up fees and monthly maintainence fees. They will pay my insurance electronically. Their mutual fund choices are not great.

Only reasonable one I thought was Dryfus small cap index with ER of 0. But I can just use that one fund for small caps in my portfolio, though little expensive than vanguard. That seems worse than all, or at least most, of the options discussed above. Am I missing something? Update on HealthEquity, they now have a nice selection of Vanguard funds at low ER. They have revamped their website and it is linked with health records nicely.

Trading fees for the high ER funds are waived but there is a 0. I think my language might be misleading. Not really better but not worse either. That was the default option with my Optima insurance. There are no other fees might differ with different insurances.

I meant all insurance claims show up electronically in my account and could just pay it electronically from the website. I had also thought of changing to HSA bank after reading about it in Bogleheads forum. With amount of money that goes inI could work with just one fund for now. Let me know if you think otherwise. They have a great lineup of Vanguard funds and 2 DFA funds… I dont know if this is new or had always been there. For these investments, if done by oneself, without advisor services, the fees are 0.

I ruled out HSA Bank because you cannot speak to anyone on the phone. Poor customer service Curious if anyone else had that experience.

I recently spoke to HSA Bank for tax prep reasons… i sent an email, this came at the bottom of it. I called and spoke to a human. Not sure what you experienced. Otherwise, for specific account information please contact our Customer Contact Center toll-free at or international Our representatives are available Monday through Friday from 7 AM to 9 PM CST and Saturday 9 AM to 1 PM CST. I similarly just had a bad experience with HSA Bank as well and found this site because I was looking for another provider.

Tried both their customer service and email. Will look into rolling over as well to one of the other options. But if I kept having them, I would look elsewhere as well. That makes sense, Sam. Thanks for the clarification. That is a nice feature. I have no idea if HSA Bank has that feature as, like you, I plan to use it mostly as a stealth IRA.

I agree that it would be relatively low yield to change at this point, especially since you do have one fund in there you like. Health Savings Administrators started using HSA Bank this summer. They sent me a letter going over the changes. It says there are no minimum balance fees.

I just use a local credit union. They pay hardly any interest, but I have quick access to the funds. Thank you for your helpful website.

I wonder what you think about my current HSA plan. Fidelity Advisor Freedom Lifecycle Funds, Goldman Sachs Satelite Strategies, AF EuroPacific Growth, Thromburg International Value, T. I did choose PIMCO Total Return D because its relatively less expensive ER 0. I used bonds in my HSA as part of my whole portforlio assess allocation for goal of tax efficiency.

Is that a reasonable approach? Your HSA belongs to you. You should be able to use any one you like. I think you need to correct the HSA Administrators fee info which is 0. So actually 32 basis points per year. The interest rate is a nominal 0. Fund Name Ticker Symbol Asset Class Amer. Looks like a lot of high ER funds. How many of those funds other than the 3 Vanguard funds have an ER under 50 bp?

What is the point of having two SP index funds? BTW the Mainstay SP has an ER of 70 basis points for investor shares according to Morningstar vs 5 basis points for Vanguard Admiral or 17 bp for Vanguard Investor shares.

For someone who has enough saved in the HSA to consider more than an index fund I agree there are probably better options available elsewhere.

They said they were advised by tax person NOT to do this, and for me to contribute post-tax dollars on my own funds to max amount. You cannot contribute post-tax dollars from your own funds. You should, however, be able to contribute pre-tax dollars from your own funds.

You can probably actually put it into the same HSA. You then deduct the contribution on theline So, is this what you mean? IRS regs allow you to contribute pre-tax if your employer has a Section plan that includes HSA contributions.

In addition, you may contribute post-tax as well. The differences are these: The money your company puts in is pre-tax. The money you put in is also pre-tax, meaning it is deductible on your return for the year in which you contribute it. So it is all pre-tax.

Since it is HSA money, as long as you spend it on health care it is never taxed again. The only difference involves payroll taxes. Money you contribute directly has already been taxed for SS and Medicare, and there is no mechanism whereby you can get that money back.

To further expore this idea…. I have my own S-Corp I am the owner and sole employee which is contracted to my practice. I give myself a salary from my S-Corp PLLC. Can I fund my HSA from my PLLC to avoid the payroll taxes? Health Equity fees are lower but the investment options are fewer and not as good for the most part. There are actually now several excellent, low-fee Vanguard options through Health Equity. In addition to Large cap index, they recently added extended market index, Total International Stock Market, Total Bond Market, Target and Target Retirement.

By combining TBM and Target in appropriate ratios, you can pretty much replicate any Target or LifeStrategy fund you like although with some tracking error that will depend on rebalancing frequency.

If you want even lower expense ratios then you can combine TBM, TISM, large cap index and extended market index to nearly replicate a Target fund as well. You can also tilt a bit towards international or mid-caps if you so desire. Just curious how you know this? These funds are available in my account.

Perhaps the options are only available if you are insured by Optima. Just a correction on the minumum debit card balance. There is no minimum required balance, and no bank fee for the debit card for the Health Savings Administrator customers at HSABank. Pat Jarrett, VP, Health Savings Adminstrators. It seems like a good deal to me, although Vanguard funds are limited?

What are your thoughts? Unlimited mutual fund trades are offered in return for this. VANGUARD SHORT TERM BOND INDEX INVESTOR VANGUARD SMALL CAP INDEX — SIGNAL SHRS VANGUARD US GROWTH INVESTOR. I like HSA Bank better, but you could do much worse than Alliant. The lower minimum is nice and the free trades are nice. But to be honest, I do an HSA trade once a year…. But depending on what you want to do with your HSA, you might like access to all those funds.

I use Bank Of America benefitsolutions. So, with that, I only make. They have some decent funds to invest into with low expense ratios. So, that I liked. I am considering going with HSA Bank NYSE listed over HSAadminstrators fly by night operator??

Can anyone confirm if HSA operators are insured? Do you mean is the account backed by FDIC? IRS regulations require that every HSA administrator has a custodian that meets cetain minumum finacial and experince criteria set by hte IRS. Most HSA providers are banks and meet these standards easily by virtue of their compliance with banking regs. Third party administrators, like us at HSA Administrators, contract with a bnak to be our custodian.

We happen to use HSA Bank as our custodian. In addition to the fiducary oversight provided by the custodian, wea are audited and our staff are all bonded and insured as a way to protect your investments.

Below is an excerpt from the article that caused me to get concerned. So I want to be sure that my HSA money will be safe i. Securities and Exchange Commission. VJ — Yikes, that is scary.

Stick with a national bank chain, then. Another bonus is the debit card you get is free and so are the replacements if you need them and you can have up to 7 people on the account. Now, the APY is low, but for investing there is no fee to buy and sell just watch expense ratios, of course compared to Alliant Credit Union.

She kept telling my to log in. Though I do believe I saw LPL Financial lot in the fine print. To me, that is too much money to have sitting and not really earning much.

Unless I misunderstood the rep when I called. Best of luck, I looked at many of the ones listed above and found that if I wanted to avoid the monthly fees I had to leave too much in my account. Investments are done via Optima Health. They have a fair list of lower-tier funds but only one vanguard fund. Not sure if there are more when you are logged in as some have posted above, mentioning several vanguard funds. Could you please clarify your choice of HSA providers. I think both HSA Bank and Health Savings Administrators are both great choices.

As noted in this post, when I actually went to open one, I went with HSA Bank. The previous post was written at least a year earlier when Health Savings Administrators was a slightly better choice IMHO and I just never went and updated it.

The Amana funds, esp. Growth, at Saturna have done very well but are expensive, 1. There is no custodial fee or minimum balance required in a money market or such. I also use HSA Administrators for their Vanguard funds. You can use up to four funds. They tell me the Total International Stock Index, will be available as an Admiral later this year.

Any money I find laying around goes first in HSA, then Roth, or IRA, or SEP. Does BND sound good to you? The rest goes into aggressive investments. Can I ask why you have it in aggressive investments? Is there an advantage to having aggressive investments allocated to the HSA in your overall asset allocation, or is it just a preference of yours? I thought about this a little more, and out of any tax-advantaged account, the HSA seems to be the one you would want to try to grow the most aggressively… if you are okay risking your health savings.

You put the money in pre-tax and pull it out tax-free assuming you have past and current medical expenses to cover it. Seems like a waste keeping it in low risk, low return investments with that in mind. My employer offers the Wells Fargo HSA option, which you mentioned to be not too great given the dearth of fund options https: Do you have any concerns or comments on the Wells Fargo options?

I suppose that I could also open my own account at HSA Bank, pay the maintenance fees, and have broader options of investments like VTI. I wonder if the gains would be worth the extra step annually to transfer funds from my employer HSA to my personal one. This brings up another question: I find the Wells Fargo funds way too expensive. Their diversified international fund, for instance, is 1. New link for Lake Michigan Credit Union: You can invest in commission-free ETFs, 32 of which are from Vanguard, in addition to other investments normally available through TD Ameritrade.

Elfcu offers a better HSA than HSA Bank. Thankfully ELFCU does not charge any opening fees. Thanks for the tip on ELFCU. I think ELFCU has only been around a couple of years, and no one was talking about their HSA until the last month or two.

Looks like HSA Bank has got some real competition. I just completed all of the paperwork to transfer my HSA over…arg!!!! I am not back in the market for a fee free investment HSA account.

Please allow me to clarify several points in the conversation. Health Savings Administrators is separate from HSA Bank. We do use HSA bank as our custodian and to supply debit cards for those who want them. We do not require a balance to be held in the checking account to avoid fees.

HSA bank has this requirement for some of the investment options they provide. That is designed to accomodate any market movement and avoid a negative balance when withdrawals are made. Your Vanguard investment offerings, fee structure, and and no minimum cash balance requirement allows individuals with large-balance HSAs to save money pay less, earn more.

My spreadsheet comparisons easily concluded you were the best custodians for my retirement account. You might be interested in this: However, if customers were to ever lose access to commission-free ETFs offered at TDA, I may consider looking elsewhere.

I hate bait and switch tactics, which this feels like. I am with HSA Bank and was considering a switch later this year. What do you guys think about HSA investing in the Vanguard Wellington fund? Do you think the Wellington has less risk because of the bond component? Would Wellington provide some protection in this scenario? I think a better solution is keeping a chunk of the HSA in cash. BMO Harris Bank offers a no-free HSA. The little bit of interest it pays 0.

Goal of HSA to me in a perfect world would be to not spend it keep adding to it and have it converted to an IRA down the road. I get a year that my hospital puts into an HSA account. How much additional a year would you recommend placing into an HSA, if any, if your goal of it at this point is purely an investment strategy.

There is a consensus that if you have a finite amount of money to put aside, you should first get the match on any retirement contributions, fully find the HSA next, then use any other available funds to further fund the retirement. The logic is that the HSA is a dual-purpose fund that can be used for medical tax free at any ageor after age 65 can fx live stream kodi used taxable as an IRA.

The reality is that one of your largest post retirement expenses is likely to be medical expenses, which you would be able to pay with tax free mining stock brokers spokane. My suggestion — fund as much as you can, up to the IRS limits, if possible.

I am a physician working for a hospital and my health insurance is a high deductible plan. I missed the enrolment period for the FSA offered though hospital plan.

Can I use HSA for the year I missed enrolment for FSA? The FSA has nothing to do with an HSA. If you have a HDHP, you can fund an HSA. Forex alakzatok, you can spend HSA funds anytime on eligible medical expenses.

You only need to be in an HDHP to make contributions. Here is the regulation on HSA distributions: Now, if you are eligible to contribute to your HSA, it usually makes sense to do that versus contributing to an FSA where the funds must be spent by the end of the year.

I currently have an HSA through Aetna with VERY ERs on their limited number of funds. I would like to switch to a new HSA. I live in California which is one of the few states which does not exempt earnings from state taxes. I would like to invest in a high quality TIPS fund for my HSA in order to make the earnings tax free in California. Any thoughts on which HSA administrator would goldman sachs erroneous option trades the best for my circumstance?

You can easily do that through HSA Bank just by buying a TIPS ETF. Recently set up and funded my account in a one-time deposit in order to get it invested and working for me as soon as possible.

Twice told it would be the next day, then the next time I called, I was told I had been told the previous time it would not be for another 1. I feel like some of my frustration could have been prevented if someone would have been honest and up front with me from the start.

Customer service representatives certainly not helpful, or not well informed; unsure of which. Will certainly not recommend to colleagues or other solo practice physicians.

There are lots of HSA services out there, I would recommend another which is better run and more reliable. Sorry to hear about your experience.

You might try Health Savings Administrators. So informative, thank you! I was wondering if anyone has heard of Inland Bank or American Midwest Bank. These banks were mentioned from one of the comments on an online article I was reading.

These banks offer free HSA. Thanks in advance for any input!

Psycopathic satanic SS rogue network Gehlen/Odessa/Stahlhelm/HIAG's plan for world domination - using war to create chaos and attempting to control the outcome

A quick Google search ought to find the terms for those HSAs. Great information and suprisingly difficult to find online.

This will be my fist year in a HDHP plan and I am excited at the opportunity of opening an HSA account. After reading the entire blog there seems to be several HSA administrators standing out: HSA Bank, Health Equity and Eli Lilly.

Thank you in advance—. I pay no fees, no commissions, no nothing aside from expense ratio on the ETF. I decided against jumping ship for Eli Lilly when they showed up as the new game in town and clear winner. Here goldman sachs erroneous option trades the latest: First, love the site and book.

Finished reading it a couple months ago and now recommend it to all my co-residents. Not all of the plans were considered high deductible the 5 months on short term bridge was. Did I miss anything or would you do something different? If you end the year in a HDHP that you were in by DEcember 1st, you can make a full HSA contribution.

Nothing special about TSM. A more diversified approach may be completely appropriate, but obviously be a little more complicated. But given no commissions on Vanguard ETFs you could do some TISM and TBM too if you wanted. Unfortunately, I was not in a HDHP on December 1st just started reading about HSA accounts this month. I was only in the high deductible category for 5 months during my short term interim insurance period.

I suppose the best bet is to call HSA Bank directly and tell them the situation and they should be able to tell me how much I can contribute. Unless you have another recommendation of whom to contact. As forI just switched my enrollment a few days ago to a higher deductible plan that hopefully should qualify deductible is now Any idea how strict they are in regards to this out of pocket network clause? You can calculate it. It might have been year end, so you might just be out of luck for The plan must be qualified as a high deductible plan.

Most that are are labeled as such HSA plan, or high deductible plan etc. Just ask the company- is this a qualified high deductible plan? As a former stockbrocker, investment specialiest and financial planner in both the commission based and fee based worlds who has been out of that business for a long time, I will say this to many of you:. Stop quibbling about the setup and maintenance fees and go is zagg a good stock to buy and set one up.

I found out about these yesterday, found this blog sight last night, searched the no-load fund companies with no luck, went to both Bank of America and Wells Fargo. I selected Wells Fargo because that guy knew how to set it up so I could make deductible contributions as well as This is Jan 21, Nobody cared besides the banks until the mutual fund companies figured out that london stock exchange listed companies by sector was a lot of accumulated money to be rolled over after they had been around awhile.

With Obamacare excuse me, the ACA almost every self-employed person qualifies, plus all those small business employing less than 50 people. Agree that any HSA is better than no HSA. I agree with you on the similarities between IRAs and the evolution of HSAs. We are seeing a lot of transfers from the banks to investment HSAs.

You learned about them yesterday? And now you are telling us all to run and gobble them up? You may want to check the limits on individual vs family. Fees do matter to most of us too. Thanks for your input. Last year was my first year with a HDHP and my first year contributing to an HSA.

Goldman to Pay $7 Million Over Options Glitch - WSJ

All small things in the grand scheme but what an unbelievable amount of ineptitude displayed by both parties in running this account. Sorry to hear about all that. It does get more complicated when you have an employer involved. Darren, It sounds like your HR could use some training. It obviously varies a lot. Transfer to another HSA provider? Just shut it down? My second favorite is Health Savings Administrators. You might try there. Agree that an HSA is better than no HSA too. And this discussion leads to newcomers being able to quickly reference this discussion to make their own choices.

Regarding your ability to contribute foryou had to have a HDHP in place at some point inright? Can divide investment across 4 funds. Do most take high risk selections?

Regarding you comments about employees making sure to have your employer send the money directly to avoid payroll taxes, does this still apply if you would max out SS tax anyway? You never max out Medicare of course. Great post and great website, White Coat Investor! Thank you for all of your help. I am setting up an HSA now. Do you still feel HSA Bank is the best choice? Thank you for your help and your time! You can buy any Vanguard ETF at TD Ameritrade.

Plus you get over ETFs without a commission:. That list includes 6 Vanguard ETFs. HSA Administrators also very good. If all you want is a savings account, there are some better choices too. Has anyone had any experience with USBank? I actually had an HSA account with them that was funded by how much money does an x ray technician make an hour hospital during residency.

Quite discouraging starting out. So, can I fund all for in the last 2 months of the year? Yes, you can fund the whole thing in the last 2 months.

I fund my entire HSA on Jan 2nd. Be aware, however, if this is being done with automatic paycheck withdrawals, there is an additional benefit- no payroll taxes on the contribution.

My employer told us to find our own and offered no guidance at all! I am not given the option to lump insert through payrolljust a standard contribution per check. Do you have an opinion on SelectAccount? Seems like they have better interest rates while still offering good investment options and low fees. Just a dollar or most of the 10k? If I wish to rollover my HSA from one provider HSA1 to another HSA2and I have part or all of my funds in one or more investments offered through HSA1, how do I do the rollover of the non-cash investment portion of HSA1 to HSA2?

Must I first liquidate all my HSA1 shares to its cash account? What if HSA2 offers some or all of the same investment funds in which my HSA1 investments were in?

I think you have to liquidate it. I have read the fine print HSA1 Fifth Third Bank HSA, in my case. Any account with no transactional activity within index based futures and options markets in real estate of account opening will automatically be closed.

Perhaps what they are referring to is actually an outgoing TRANSFER fee? Yes, they probably mean a transfer fee.

In my situation I think I feel most comfortable just leaving it in cash for the first year and maybe even the first two years because I really need to determine the amount I am going to use an medical expenses which of course is not the plan the plan is to use it as an investment vehicle but in my situation that is just something that is going to have to be determined.

So I am looking for a fee free provider, and looking at this thread it seems to be that there are two good options: Why not go there?

Their website was down for 1 month when I was trying to start an account and service over the phone was very poor. Binary option buddy review didnt want to trust them with my money based on that experience.

Been scanning through this article and thread looking for some insight into what to do with my HSA. I started one quite a few years back or so when I had a HDHP. After a few years I qualified for insurance through my union, and have been covered ever since.

A few years ago Chase started charging a monthly fee, and then recently stopped handing HSA accounts all together. HSA Bank took them over, continuing to charge a fee.

Or is the sum too low to make it worth the fees? If it IS worth it, who offers the most cost effective investment solution? But I think the HSA Bank interest will pay the fees, no? They have an agreement with HSA Bank.

Thank you for this article. Based on this, we set up with HSA bank in October. It was like I was waiting in line to buy groceries, not like they were trying to encourage me to use their service. I am generally very efficient at this stuff, in this last year have set up group health, disability, term life, k, and now this for my group. Sorry to hear about the lousy experience.

Maybe you get what you pay for in bank currency exchange foreign cheap online trading forex11 regard. No apologies needed, thank you for the review article.

I think in the long run cost wise HSAbank is still the best option. I left the comment for anyone setting this up for their businesses to make sure they get help if you can! I make my full contribution Jan. In the past, I was able to schedule my contribution in advance.

It looks as if their most recent website redesign will not allow me to schedule a contribution for until we are in the new year. One more minor inconvenience, I guess, which pales in comparison to some of the mistakes described above. Last i looked it was corporate only. I believe you are correct. I have a call in to my rep to confirm that no individual HSA is currently available, and will post back if that is incorrect.

I am also using my HSA account as a stealth IRA. I see an advantage of Select Account over HSA Bank but wanted to see if others would share the same analysis…. I see any annualized ROI above 0. I would think that exceeding 0. Select Account allows you to trade using a Charles Schwab account and HSA Bank allows you to canada revenue agency day trading a TD Ameritrade account.

So, for investment options and expense ratios, this is a wash. I would appreciate any feedback on this analysis. I read your facts and arrive at the opposite conclusion. I see the following advantages of HSA Bank:. You can totally avoid those at HSA Bank if you really want to. Not much of a trade off to just invest the whole thing. If you really want your HSA in cash, might as well go elsewhere. These options are both for people who want to invest their HSA, and for the person who wants to do that, I think HSA Bank is the better deal.

Although I do favor Vanguard ETFs, I found that Schwab offers commission free trades on many of its in-house ETFs that track very closely with their Vanguard counterparts and have similar and slightly lower expense ratios. For my purposes, I would consider this a wash although I know this is debatable due to the increase bid-ask spreads and lower volumes with Schwab ETFs compared to Vanguard ETFs.

I would echo some of the previous negative comments regarding their customer service, as I had some delays in setting up the account and receiving initial documents. Sometimes I feel like their customer service reps could use some additional training. WCI, I have a question: Has anyone heard of optum bank? This is the first time Ive been able to use an HSA. Im not really sure about how I want to use the account, although I think I will eventually be headed in the direction of using it as a stealth IRA FYI I know almost nothing with regards to investing.

Any advice would be helpful. There are three admiral share Vanguard index funds there. You could do far worse. My family will be moving to a HDHP on March 1. I may or may not remain with that plan for the entire year depending on whether or not my wife starts working she works in education and they typically have superior insurance. HSA bank has terrible customer service.

I just now wasted another hour arguing unsuccessfully with them about making my money available so I can purchase vital medical supplies. My company uses optumbank for their HSA. I inquired about using HSA bank instead and was told I could do that, but would not be able to make pre-tax payroll contributions to HSA Bank. I would have to fund it post-tax. When you make a post-tax contribution to an HSA, are you able to get back all the taxes paid on that money SS, medicare, local?

Am I better off sticking with payroll deductions to optumbank, vs post-tax contributions to HSA Bank? The payroll deductions will save you payroll taxes. You would save the income taxes either way. You can just use Optum and do a rollover to HSA bank once a year, no big deal. You can claim the post tax contributions on yourbut that only covers fed. Fico adds up to 7. Looks like you have VFIAX as an option in optum. You can roll it to HSA Bank or similar if you ever leave that employer.

I would like to steer everyone away from Health Savings Administrators. Not only are their fees ridiculous but they make you fill out a from and mail it in to close your account. Talk about a bunch of scammers. My work offers an HSA through Benefit Wallet, which after dollars allows you to invest in their select funds. While they do charge maintenance fees, they are all paid for by my employer so their effect is negligible unless I leave my employer.

Although most of their funds charge a high ER, one of their funds is Vanguard Total Stock Market VTSMXwith an expense ratio of 0. I was initially going to set up an account at HSA Bank and direct my employer to deposit money there, but then they will not cover any fees which I believe will be around 60 dollars a year until I hit their minimums. Since I will just be starting offI think Benefit Wallet might be the better option for now, until I amass enough assets to make switching worth it.

Once I hit the dollar threshold to invest via BenefitWallet, I will direct all of the future investments to go into the VTSMX. This has an ER of 0. Thanks to everyone who posted above for your insight. The new fees for optum are. They offer more vanguard funds now. Also the minimum to avoid 2. For HSA bank Just to be clear if I keep in savings with HSA bank the the only fee I pay per year is the 25 dollar transfer fee if I do it all at one time to td?

Is HSA bank still better than optum? I think HSA is better. I consider this part of my cash allocation across my total portfolio.

The one potential downside of using HSA Bank is their customer service, which many have complained about. Hopefully, by the time I need to access these funds, they will have their act together. Should I go with HSA Bank, and immediately invest in a low fee mutual fund?

If so, which mutual fund do you prefer? HSA Bank is a good choice for someone who wants to invest. You might also look into Saturna which recently lowered fees. Any broadly diversified mutual fund is probably fine. I use the Vanguard Total Stock Market fund. But if you might actually need this money for health care expenses in the next few years, a balanced fund may be a better choice. It looks like Saturna is fee free if I choose one of their proprietary mutual funds. Would you by chance know which of their products would be close to the Vanguard Total Stock Market Fund?

You might want to ask The Finance Buff. He just did a post on them. But his suggestion was buy Vanguard funds there and pay a fee to do so. Jodi, I started much like you with no initial bank roll to put in and payroll limitations on contributions being spread throughout the year with no real easy way to get a lump sum in mid year for catch-up. I ended up going with HSABank because I plan to back-door it for triple tax advantaged savings rather than medical expenses I effectively have none right now.

I enrolled in the 0 fee trade plan. Once it's at 5k, i plan to roll all funds into the brokerage side monthly. I check my holdings basically every day, so i don't automate my trades, but if you are less interested in monitoring, I think you can set up scheduled buys in TD as well. It is a matter of choosing the least of the possible evils.

Also they charge 0. I have literally spent the last 4 hours just to do basic setup tasks because it crashes on most of the links. They have speedy customer service if you call them but still, makes me wary when a bank that is managing my money has such a barely functioning website.

Their fund offering is OK and I am not aware of any fees for re-allocating funds. All in all I would not recommend them although the other options out there are not much better. I see LOTS of great options. Were you expecting them to do it for free? I mean, take a look at your k. My very good k either charges 0. The Utahperhaps the best in the country, adds on a charge of something like basis points to the ERs of the funds.

I think your expectations are way too high if you think these are terrible HSA options. They sent me a letter instead and I had to transfer the money myself.

A deal at twice the price. My comment was too negative. Your objective framing of the costs from these vendors is accurate and clearly shows that their fees are reasonable and in line with other larger banks.

I will give HSA Bank a try based on this post. Here is my situation that I am hoping some of you will comment on. My goal is to use the HSA as an investment vehicle rather than for medical expenses but aside from my 4 months of emergency fund before my 3-month-wait disability insurance policy kicks in, I do not have funds elsewhere to meet the worst-case scenario catastrophic year-end medical expense, meaning that feasibly I could indeed be forced to tap the HSA. Also meaning that the HSA funds should be kept in a conservative environment.

I have decided that a bond fund suits me to invest my HSA money, specifically an ETF VTIP Short-Term Inflation-Protected Securities ER 0. In the long run, I would expect a bond fund to outperform a savings account. Future expected returns from that fund? I would expect — 0. I consider my HSA a different account from my retirement funds different goals.

But that works both ways. For instance, you could put the HSA in stocks and if you have to tap it, buy stocks elsewhere and sell the HSA stocks.

The other nice thing about an HSA assuming you have some other funds is you can invest it aggressively and if you need to tap it while the market is down, you can just delay the withdrawal by a year or three until it has recovered. You can reimburse eligible health care costs at any time in the future if you save your medical receipts.

I plan on doing it all at once so I can contribute the full amount to investing immediately -vanguard total stock market- instead of month by month.

If you pay it yourself, you do. The usual players on the list. Maybe they cut the rate. There are over 50 funds — though that has changed as some were closed to new investors and the Vanguard being replaced with Blackrock. I will work on this so I can post it. Brian — Thanks so much for posting that. Some of those those investment thresholds seem really high.

BOA did this month release the only 3 Vanguard funds they had and replaced them with 2 Blackrock funds same class.

In addition, BOA lowered many expense ratios on their investments which was a nice surprise, moving them to admiral shares. Your email address will not be published. Please enable JavaScript to submit this form. Notify me of followup comments via e-mail. You can also subscribe without commenting. In case of a glitch or error, please save your text elsewhere, clear browser cache, close browser, open browser and refresh the page. Sign me up for the newsletter. The book summarizes the most important information on the blog and contains material not found on the site at all.

Straighten out your financial life today! Also available on Audible! Click to learn more! And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful. Website design by Nina Interactive. Menu Start here Blog Latest Classics Featured Search Archives Forum The Book Description Why You Should Read It Table of Contents Errata WCI Empire WCI Podcast Newsletter Sign-up Newsletter Archives Physician On FIRE Recommendations Books Websites Student Loan Refinancing Physician Mortgage Loans Insurance Agents Financial Advisors Jobs Real Estate Agents Student Loan Advice Contract Negotiation and Review Practice Loans Private Medical School Loans Tax Strategists About About WCI Scholarship Testimonials Guest Post Policy Contact Search.

Choosing an HSA Provider September 24, MST Category: InvestingPersonal Finance. Sign up for our newsletter! Related Posts Should I Pay for Health Care With My H. Fidelity does not currently offer HSA to individuals but they probably will in White Coat Investor September 24, at Ari December 20, at 5: John January 16, at 2: White Coat Investor January 16, at 4: Arress August 25, at 1: Marlon July 15, at 4: Just got off the phone with Fidelity.

Robert September 8, at MedDK July 5, at 7: As of February 21,Fidelity still does not offer individual HSA accounts. Bill May 7, at 1: Joseph January 2, at 2: Piu December 31, at 4: White Coat Investor January 1, at 8: Philippe Gadegbeku February 24, at 4: The White Coat Investor February 24, at 4: Hmmmm…never actually tried calling them.

What did you need to call them for? Jen K January 2, at 7: The White Coat Investor January 2, at How does Sterling HSA stack up? Hello White Coat Investor, Thank you for your helpful website. Again, thank you for your great website.

Need advice on my HSA. Our company uses HSA Bank. Maybe I just need to talk with a CPA. Pat Jarrett July 29, at 7: I hope this helps clarify. They seem like one of the better HSA providers, no? Mark April 13, at White Coat Investor April 14, at 9: The more good options the better. Rob April 26, at 1: Mark April 28, at 7: Jeremy May 19, at 8: White Coat Investor May 21, at 1: Abel October 16, at 6: White Coat Investor July 12, at 4: White Coat Investor July 25, at 5: Pat Jarrett July 26, at 7: Knighpack July 27, at 6: An update on healthequity which my employer is defaulting with: White Coat Investor August 5, at White Coat Investor September 24, at 9: E October 16, at White Coat Investor October 17, at 6: E October 30, at 9: White Coat Investor October 30, at Thanks for the thorough overview.

White Coat Investor November 10, at 9: E January 23, at 1: Matt January 23, at 2: E January 23, at 3: White Coat Investor January 24, at White Coat Investor May 27, at 9: Kurt Harris July 30, at 2: Erik April 24, at Thanks for the link!

White Coat Investor April 24, at White Coat Investor April 24, at 1: The rest is a retirement account to me. First off, thank you for the wonderful website. Thank you so much! White Coat Investor May 31, at 9: It is state by state and not yet worked out by case law as HSAs are fairly new. Jason June 19, at 8: White Coat Investor July 4, at Thank you for the great and instructive posts. White Coat Investor July 10, at White Coat Investor September 2, at 3: White Coat Investor November 19, at White Coat Investor December 13, at 4: White Coat Investor December 21, at Erik January 13, at 9: White Coat Investor January 13, at 3: White Coat Investor January 16, at 7: Jeff January 16, at 9: White Coat Investor January 16, at As a former stockbrocker, investment specialiest and financial planner in both the commission based and fee based worlds who has been out of that business for a long time, I will say this to many of you: But get it started now.

White Coat Investor January 21, at 2: Pat Jarrett January 21, at 3: Joseph January 21, at 4: Darren January 27, at White Coat Investor January 27, at 4: Joseph January 27, at 4: Darren January 27, at 6: Thanks, at what point would you guys say move on? White Coat Investor January 28, at Erik January 21, at 2: White Coat Investor February 22, at 4: White Coat Investor April 18, at White Coat Investor April 26, at 9: Plus you get over ETFs without a commission: Jim April 27, at 8: And do you still feel HSA Bank is the best choice?

White Coat Investor April 27, at Question on the contribution limit— is it per plan year of the hsa or per tax year?

B June 26, at 6: White Coat Investor June 27, at B June 28, at 8: Thanks for the reply. White Coat Investor June 28, at White Coat Investor August 4, at 9: John M August 8, at 4: White Coat Investor August 26, at 5: Paul August 31, at 5: White Coat Investor September 2, at 7: White Coat Investor November 1, at 4: That makes sense, glad I asked, I was considering only the closure fee.

White Coat Investor November 8, at 4: Did you look at HSA Bank? Better investing options than that fund, similar fees.

Arif Khan November 9, at 6: I look at it today and see if i want to roll over the HSA. White Coat Investor November 12, at 5: I got a login to the employer website with no orientation or guide on how to use it. White Coat Investor December 8, at 2: Sarah December 11, at 9: White Coat Investor December 26, at 4: I only interact with them once a year too. B December 28, at 8: Mike December 28, at 4: I see an advantage of Select Account over HSA Bank but wanted to see if others would share the same analysis… 1.

White Coat Investor January 19, at 3: I see the following advantages of HSA Bank: Sidney January 19, at 4: Thank you for your quick reply and thoughts. Thanks again for your time! White Coat Investor January 19, at White Coat Investor January 26, at 9: The White Coat Investor February 10, at 1: The White Coat Investor February 10, at 4: Joseph February 10, at 6: The White Coat Investor April 8, at 7: