Ranking Best to Worst HSA Investment Brokers | Early Retirement Strategy

[@FIREPsyChat]

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[@Direct.injection212]

Tip: use your HSA to pay your Medicare premiums when you start collecting SS at 65.

[@FIREPsyChat]

Yes!!

[@vasunseeker]

Aren’t the Medicare premiums automatically deducted from your social security benefit check? I’m not planning to stop working and filing for Medicare and social security until I get closer to age 70 (64 now)

[@Direct.injection212]

These rules changed and I think I can use the HSA for medical expenses but not Medicare Premiums? I am not sure.

[@degencryptivities]

Lively used to be fee-free. Now with their move from TD to Schwab they are charging $24 annually. Since I only realized this when looking into opening a 529 with Fidelity since that is where my 401k is. Looks like I will have them all in the same place an move my HSA to Fidelity!

[@dshep832]

Hey, Thanks for sharing. Are you aware that HSAbank just severed ties with Charles Schwab? Any guidance on any other HSA banks?

[@joewee880]

I just started an HSA thru my employer. They use Optum. Fees are paid by employer. My employer also contributes $1k/year to my acct. Should I switch to Fidelity? How would that work with taking the deduction tax free from my paycheck?

[@Stayliving111]

My employer is with pay flex . Do I Need to contribute to pay flex or can I go to fidelity?

[@kalamkav]

Fidelity HSA A/C Fees is 0.35% for 25K and above ... so it is not capped at 25k unless I am missing something.

[@peteszc2626]

Can I invest my employer HSA with Optum in another brokerage?

[@maryland1310]

can I switch my HSA provider while keeping employee match if with Optum ?

[@samuelbenton9437]

You can open an additional HSA with another provider kind of How you can have more than 1 Roth IRA account you just cannot go above the contribution limit on all accounts, Same applies to HSA (employer contribution counts toward limit unlike 401k). Best course of action would be to do a transfer of the funds from Optum to another provider (I prefer fidelity) once a year because optum charges $20 per transfer. Also make sure you do not transfer the full amount and leave some in. Optum might close your account if you drain it all and then you will have to go through the headache of having your employer open a new one. Still doing payroll HSA deduction gives you significant savings you wouldn’t normally get (FICA) rather than contributing to your own after you receive your paycheck.

[@pritamkrazzy]

Can you have HSA from outside firm and if you have low deductible insurance.

[@codycharlessmith6651]

ETFs or index funds in the HSA? Which is better? Not sure if taxes will come into play and that’s why I assume ETFSs are a better choice?

[@MrGorillaman22]

You've probably come across an answer by now. But just in case, there aren't any tax implications due to the tax advantages of an HSA or even in 401ks's.