Author Topic: HSA options in 2018 and beyond  (Read 790 times)

nkt0

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HSA options in 2018 and beyond
« on: October 17, 2018, 11:55:11 AM »
I'm wondering what the best options for HSA providers are in 2018 and beyond? Has the landscape changed? What are people's goals with HSAs? Lowest fees? Most investment options? Easiest access to funds?

I am just switching to a HDHP this year and am interested in what people are doing with these!

* I know this is a common topic, but i searched and did not find any recent updates.

therethere

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Re: HSA options in 2018 and beyond
« Reply #1 on: October 17, 2018, 12:00:01 PM »
You want to use whatever HSA provider is sponsored by your HDHP so contributons are direct deposit. Otherwise you forfeit the FICA tax breaks.

nkt0

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Re: HSA options in 2018 and beyond
« Reply #2 on: October 17, 2018, 12:06:33 PM »
You want to use whatever HSA provider is sponsored by your HDHP so contributons are direct deposit. Otherwise you forfeit the FICA tax breaks.

Sorry, noob here. What are the FICA tax breaks? And my plan admin says that i can set up direct deposit to any HSA provider.

therethere

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Re: HSA options in 2018 and beyond
« Reply #3 on: October 17, 2018, 12:11:18 PM »
Ah okay, ignore my comments on provider then. I didn't know employers gave choices!

The FICA tax breaks is the ~7.6% you pay to Medicare and SS. All HSA contributions are tax deductible (federal and potentially state income tax) up to the annual contribution limit regardless of how. But for the FICA tax breaks you must contribute via direct deposit from your paycheck.

nkt0

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Re: HSA options in 2018 and beyond
« Reply #4 on: October 17, 2018, 12:22:04 PM »
Got it!

My admin uses BenefitWallet. Not sure if anyone else uses them and can comment, or if i should look elsewhere…

SubL stache

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Re: HSA options in 2018 and beyond
« Reply #5 on: October 17, 2018, 06:04:49 PM »
I use benefit wallet, it’s got some great vanguard index options.  Fees are a tad high at first I think it’s 3.90 per month, but once your balance gets up not too bad.

jodelino

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Re: HSA options in 2018 and beyond
« Reply #6 on: October 17, 2018, 08:15:36 PM »
I am retired and became eligible for an HSA in 2016 with my high-deductible ACA insurance. After a lot of reading around, I found a suggestion here or on Bogleheads to look at Saturna, and they have been great for my needs. I am using the HSA for long-term tax-advantaged saving for health care expenses down the road, not to reimburse myself on a frequent basis for expenses incurred. I make my annual contribution in a lump sum and put it all into VGHCX (Vanguard Healthcare fund) and leave it alone.