The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: Paul der Krake on September 24, 2015, 02:41:46 PM
-
This only concerns a few people as they only accept people enrolled in an employer plan, but here goes:
UMB Bank now offers a "HSA Saver" brokerage account that offers a bunch of Vanguard funds! The monthly fee for the account is only $3, and replaces the god-awful, fee-ridden funds they offered previously. Best of all, the minimum amount of cash required to be kept as cash reserves for medical emergencies is only $1,000.
Of course, they didn't bother to let me know, I found out by accident while reviewing next year's enrollment options. Apparently they advertised it on their monthly statements, which I never look at.
Hope this makes at least a few of you as happy as it made me today.
-
I will definitely be looking into this thank you!
-
The company I work for started using UMB this year and we were able to roll our HSA balances from Payflex over. Have now accumulated a decent stache in this account and need to get it into VTSAX and VTBLX to mirror our overall allocations.
Not a fan of their $3 monthly fee ......
Great article from Jim Collins on HSA utilization:
http://jlcollinsnh.com/2014/08/18/stocks-part-xxv-hsas-more-than-just-a-way-to-pay-your-medical-bills/
-
Not a fan of their $3 monthly fee ......
Me neither, but the reality is that HSAs are still very new and the fierce pricing competition seen in IRA providers just isn't there. $36/year is very similar to the what the competition offers, and it doesn't require you to keep $5,000 as reserves like a other custodians.
-
Not a fan of their $3 monthly fee ......
Me neither, but the reality is that HSAs are still very new and the fierce pricing competition seen in IRA providers just isn't there. $36/year is very similar to the what the competition offers, and it doesn't require you to keep $5,000 as reserves like a other custodians.
HSAs are not "very new". They've been around since 2003 in their present form, and since the 90's under their previous form (MSA).