HSA Transfer Question

[Bikesy]

I started a  new job a couple of months ago and I have an HDHP with an HSA.  After digging in a little more the investment fees for the mutual funds within HSA Bank look really high.  Can I open an HSA somewhere else and transfer my funds every month or so?  Has anyone had any experience with this?

Thanks for any help!

[SailAway]

This is the method I used. http://thefinancebuff.com/how-to-rollover-an-hsa-on-your-own-and-avoid-trustee-transfer-fee.html

[chasesfish]

Sailaway - Did you have any additional reporting when it came to tax filing time?  What brokerage did you use for the new account

I've been considering this myself, I have a large chunk in an employer sponsored HSA.  I've been hesitant to do anything due to tax reporting and I can't see where Fidelity does these accounts.

[SailAway]

Sailaway - Did you have any additional reporting when it came to tax filing time?  What brokerage did you use for the new account

I've been considering this myself, I have a large chunk in an employer sponsored HSA.  I've been hesitant to do anything due to tax reporting and I can't see where Fidelity does these accounts.

I just did it this year, so I haven't filed the taxes on it yet. However, in the blog post I linked above, it's discussed in the comments. Form 8889, line 14b.

I rolled mine from BMO Harris (the only bank my employer will direct deposit to) to Eli Lilly Federal Credit Union, which uses TD Ameritrade for the brokerage.