Yea, I now have an HSA option! I can chose my custodian. I have read the Mad FIentist articles and want to use it as an investment vehicle. I like Vanguard.
I am thinking of using this before my company 401k (no matching), since I can avoid Social Security & Medicare tax, as well as have more control over my investments. The 401k is through John Hancock, and does not have anything with a fee under 1.2%
I have poked around the forums and online a bit, and I wondered if anyone had comments on:
- HSA bank - It appears I pay $2.50/month until I hit $5,000 balance, also $3.00/month for 'Monthly Investment' until I hit the $5,000 balance. I am thinking this is a fee to link it to the TD Ameritrade account, which I would do. Source: (
http://www.hsabank.com/~/media/files/fees_s1) The TD Ameritrade appears to give Commission free ETF trades with no monthly fee? (Source:
http://www.tdameritraderetirement.com/forms/ACS1009.pdf - This was linked to from HSA Bank) Vanguard ETFs are listed here.
or
- Health Savings Administrators (Who use HSA Bank ......) - $45/annually + .0008 * each fund balance per quarter capped at $20,000 balance. This means a $16/quarter charge, per fund. (Source:
http://healthsavings.com/wp-content/uploads/2014/12/FEE_SCHEDULE_02.14.pdf)
Does anyone have any experience with any of these?
I am leaning HSA Bank for the fees, once I hit $5,000, there are not fees? Am I thinking about this correctly?
Thanks for your help, you guys rock!