The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: I'm a red panda on November 02, 2018, 06:12:20 PM
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I have had a HDHP for the past few years, with an HSA. I've used the HSA as an investment account, rather than using it for current medical expenses.
Our company is eliminating the HDHP, so my plan no longer qualifies for an HSA. The company that administers the HSA will now charge a $6 monthly maintence fee to keep the account.
Can I move the money into another type of account without needing to pay taxes on it?
Or should I just find a less sucky HSA administer to transfer the account to?
Can I pay for qualified medical expenses out of the money that exists in the plan even though I no longer have an HDHP? (I know I can no longer contribute to the HSA.)
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Call vanguard, I think you can transfer it.
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No, yes, and yes.
Some links that may be useful:
How To Rollover an HSA On Your Own and Avoid Trustee Transfer Fee (https://thefinancebuff.com/how-to-rollover-an-hsa-on-your-own-and-avoid-trustee-transfer-fee.html)
Health savings account (https://www.bogleheads.org/wiki/Health_savings_account),
New HSA provider Lively offers investments for $30/yr fee (https://www.bogleheads.org/forum/viewtopic.php?t=228522),
Is HSA Bank + TD Ameritrade still the best HSA choice? (https://www.bogleheads.org/forum/viewtopic.php?t=230151),
Best HSA (2017) (https://www.bogleheads.org/forum/viewtopic.php?f=2&t=207051), and
HSA Search - Find HSA Providers (https://www.hsasearch.com/custodian-search/?name=&MFs=TRUE&submit=Submit)