What to do with previous HSA

[felizcortez]

My wife has an HSA that was transferred to a 3rd party after leaving her old employer.  (PayFlex).  They charge a $4.00 monthly fee for the privileged of keeping your account with them.  She has about $1000 in the account.

Here is a list of the fees that they charge for their services.

Fee   Amount
Monthly Maintenance Fee   $4.00
Non-Sufficient Funds (NSF) Fee (Overdraft)   $25.00
Monthly Investment Account Fee   $2.00
Deposit Item Returned   $25.00
Monthly Paper Account Statement   $1.50
Stop Payment (per check)   $1.50

4 bucks a month is 48 bucks per year for keeping the money in this account.

My wife and I have a combined High Deductible Plan that I get through work, but I don't believe I can transfer her money to my HSA through work since both of our names are on that account.

I'm trying to figure out what to do with this account that we can't contribute to anymore since she is covered under my health insurance.  We have been using my HSA as an investment vehicle so I'd like to do that with hers if possible, but the fees associated with this account make it prohibitive.

Any thoughts on what to do?

[FiguringItOut]

I don't have an answer for you.  But I wanted to say that I just started my HSA with PayFlex and they list all the same fees for me except monthly maintenance fee.  All other fees are there with the same amounts.  The maintenance fee is not listed anywhere. 

I'm wondering if this could only apply to those that transferred to PayFlex as 3rd party provider?

[geekette]

As far as I can tell, all administrators have a fee for low balance HSAs (unless the employer foots the bill).  If you can't roll it over to yours, and she won't be able to add to the account, I'd spend it down, assuming you have any medical bills.