Author Topic: Self Employed HSA; How to proceed?  (Read 1007 times)

BarkyardBQ

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Self Employed HSA; How to proceed?
« on: April 30, 2015, 01:24:17 PM »
I tried searching the forum for previous discussions but I didn't find any.

My father is retiring soon and his health insurance is going go end, along with my mothers. She is self employed and we are looking at options for funding their health insurance through the business, hopefully with an HSA. She is looking into one local company and available plans from a larger provider.

My objectives, and she seems to be on board are to find her a quality health plan with an HSA that offers Vanguard funds.

My father will be Medicare eligible in about 2 years (if they chose too), but she would need to keep funding her own.

They are generally healthy, with minimal medical expenses.

Does anyone have any experience with this? What should we look for? Are there providers you recommend? Can you pick the HSA custodian or does the insurance provider pick?

Any assistance is greatly appreciated.
« Last Edit: April 30, 2015, 01:46:50 PM by zdravé »

Cpa Cat

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Re: Self Employed HSA; How to proceed?
« Reply #1 on: April 30, 2015, 01:52:32 PM »
I recently enrolled in an HSA-eligible plan via the Marketplace. The insurance company ended up sending me information about an HSA partner of theirs. If I enroll in this HSA, then there are no fees for my savings or investments. Of course, the "free" investments are all high-expense ratio funds. I can pay a small fee - I think it's .2% per fund (but don't remember, exactly) to invest in select other funds - which includes Vanguard funds.

It was not required that I use their HSA. But that option did end up being the best option.
« Last Edit: April 30, 2015, 07:49:14 PM by Cpa Cat »

Kriegsspiel

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Re: Self Employed HSA; How to proceed?
« Reply #2 on: April 30, 2015, 03:58:48 PM »
I got BC/BS insurance, and set up an HSA with HSA Bank. HSA Bank uses TD Ameritrade for their investments, and you can trade Vanguard ETFs commission free.