Author Topic: HSA rollover  (Read 599 times)

edmundblackadder

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HSA rollover
« on: June 18, 2019, 10:43:08 AM »
I'm about to leave my employer, where I've been able to invest a decent amount through my HSA, to start a job which also allows me to have an HSA. Does anyone know if I can roll my existing HSA funds and investments into the new one, and if so, what are the magic words to give either provider to make that happen?

EvenSteven

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Re: HSA rollover
« Reply #1 on: June 18, 2019, 10:52:51 AM »
Once per year, I roll over my HSA from my employer provided one to one that I have chosen without fees for investing.

The term that is used for this is "trustee to trustee transfer"

kendallf

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Re: HSA rollover
« Reply #2 on: June 18, 2019, 11:58:44 AM »
Once per year, I roll over my HSA from my employer provided one to one that I have chosen without fees for investing.

The term that is used for this is "trustee to trustee transfer"

To add to this, as EvenSteven notes, you don't have to transfer it to the new employer's "chosen" HSA account provider if you don't want to.  If it's somebody with good investment choices and low fees, fine.  If not, open up an account with a company which does, and transfer it there.  Your new contributions from the new job can go into whatever HSA provider they choose, especially if you get a "pass through" contribution from your insurance premiums and the payroll FICA tax deduction (only available on contributions deducted directly from your pay).  Then you can transfer it out every year or so as well.

Fidelity is now offering self administered HSA accounts, and you can pick from any of their investment options; I think they're probably one of the best choices right now. 

edmundblackadder

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Re: HSA rollover
« Reply #3 on: June 19, 2019, 02:51:52 PM »
Thanks! All of my other investments are with Vanguard, so if you have suggestions for which Fidelity funds to look at, I'd appreciate it.

MDM

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Re: HSA rollover
« Reply #4 on: June 19, 2019, 05:06:13 PM »
Thanks! All of my other investments are with Vanguard, so if you have suggestions for which Fidelity funds to look at, I'd appreciate it.
Other than Vanguard, Boglehead-style has one set worth considering.