These are articles on how to accomplish various Health Savings Accounts tasks at a variety of HSA custodians.
Within a matter of days my HSA and all of its investments were transferred from my Schwab account to a new Fidelity account with no charges.
Once you’ve open an HSA and have started making contributions, it is important that you set beneficiary designations on the account.
Unlike some other HSA custodians, the beauty of using the Fidelity HSA is you don’t have to open a second account for the purpose of investing your HSA funds.
There are two ways to make a contribution to a Fidelity HSA. Here is how to do them both.
Going forward, the Fidelity HSA® is my primary recommendation for an HSA custodian.
There are several reasons why you either might not be allowed to contribute the full amount or may accidentally over-contribute to an HSA.
When you receive reimbursement for an expense you’ve already paid from the HSA, that portion of your HSA distribution is no longer a qualified medical expense and must be recontributed to avoid tax.
When an HSA is left to a non-spouse, the account stops being an HSA.
We recommend keeping all but the funds needed to pay the annual deductible for your health insurance plan invested in your HSA investment account.
There are two ways to make an HSA contribution. You can contribute by mailing a check or you can link an external checking account.
There are many choices for an HSA custodian, but we like to recommend HSA Bank because it allows you to custody funds for investment at TD Ameritrade.
You are unlikely to need funds for any long-term care episode until about age 85. Given the long time horizon, we suggest investing your HSA for appreciation.