My company changed HSA provider from UMB bank to Optum bank.
They are paying the fee UMB is charging to transfer funds out of UMB and into Optum.
I have about $7,000 invested plus $1,000 cash at UMB. My UMB investment is in VTSAX and VFINX.
With the market being down lately, I am wondering if I should make the transfer now or wait. To make the transfer, I'll have to sell everything I have invested at UMB. Once it is transferred to Optum, I can invest it again, except Optum requires $2,100 to keep in cash. Before the transfer, I paid $2.50/month for the investment account at UMB and the was no fee for the cash portion. But now that my company no longer sponsors UMB, I think the monthly fee will go up, but I am not sure how much it will be. I also don't know yet what monthly fee will be at Optum, but I don't have a choice there, just taking what company offers.
In addition, I have old HSA account at Payflex. $16,000 invested in VFIAX and $1,200 in cash. I pay $5/month fee on that account. Thinking of consolidating it also with new Optum account, but once again, with the market down, should I wait? And I don't know how much they will charge me to close and transfer out the account.
What would you do?
ETA: I wouldn't be able to invest in Optum account until the cash balance reaches $2,100. And I only contribute $500/month to HSA account. This will go down further starting in January (from family to individual limit). Optum also has VTSAX available as an investment option.