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Re: HSA Bank eliminating investment options
bmira wrote: ↑Tue Aug 27, 2024 1:07 pmLyrrad wrote: ↑Mon Aug 26, 2024 7:37 pm
While you’re in CA, your HSA contributions are usually not state-tax deductible. It could be reported in your W2 for contributions out of your paycheck whereas a tax resident of California.Payroll HSA contributions are exempt from FICA taxes, as others have famous.
When it comes to planning for a transfer to CA (or NJ) from a state that doesn’t tax HSAs:
– Take into account promoting and repurchasing any tax heaps with an unrealized capital achieve earlier than the transfer to extend the price foundation (e.g. tax-gain harvesting).
– Take into account tax-loss harvesting any heaps with unrealized losses after transferring to CA. You would then deduct these losses out of your CA revenue, although it complicates your state return.
– If transferring mid-year, contemplate frontloading contributions earlier than transferring to doubtlessly keep away from state taxation that 12 months.I’m glad with the tax reporting instruments at Constancy on the Desktop website. Whereas the “Tax Data YTD” web page is not out there for HSAs, I’m able to view my “Realized Acquire/Loss Abstract”, and have a filter for my year-to-date Dividends/Curiosity on the “Exercise & Orders” tab.
Thanks for the information. I am going to promote/repurchase unrealized capital good points earlier than transferring to CA
For folks utilizing Constancy for HSA, is everybody simply consuming the $2.50 charge as a value of with the ability to use Constancy or is there an uncomplicated approach to get it waived?
I do not know what $2.50 charge you might be speaking about. Constancy expenses no charges for it is HSAs.
Re: HSA Bank eliminating investment options
Attempting to determine which is right and if anybody transferred with such holdings.
Re: HSA Bank eliminating investment options
tj wrote: ↑Tue Aug 27, 2024 1:30 pmbmira wrote: ↑Tue Aug 27, 2024 1:07 pmLyrrad wrote: ↑Mon Aug 26, 2024 7:37 pm
While you’re in CA, your HSA contributions are usually not state-tax deductible. It could be reported in your W2 for contributions out of your paycheck whereas a tax resident of California.Payroll HSA contributions are exempt from FICA taxes, as others have famous.
When it comes to planning for a transfer to CA (or NJ) from a state that doesn’t tax HSAs:
– Take into account promoting and repurchasing any tax heaps with an unrealized capital achieve earlier than the transfer to extend the price foundation (e.g. tax-gain harvesting).
– Take into account tax-loss harvesting any heaps with unrealized losses after transferring to CA. You would then deduct these losses out of your CA revenue, although it complicates your state return.
– If transferring mid-year, contemplate frontloading contributions earlier than transferring to doubtlessly keep away from state taxation that 12 months.I’m glad with the tax reporting instruments at Constancy on the Desktop website. Whereas the “Tax Data YTD” web page is not out there for HSAs, I’m able to view my “Realized Acquire/Loss Abstract”, and have a filter for my year-to-date Dividends/Curiosity on the “Exercise & Orders” tab.
Thanks for the information. I am going to promote/repurchase unrealized capital good points earlier than transferring to CA
For folks utilizing Constancy for HSA, is everybody simply consuming the $2.50 charge as a value of with the ability to use Constancy or is there an uncomplicated approach to get it waived?
I do not know what $2.50 charge you might be speaking about. Constancy expenses no charges for it is HSAs.
The HSA Financial institution charge for having a money steadiness beneath a sure threshold, whether or not it is $3,000 or $5,000. It is not one thing I’ve ever beforehand thought of given the connection between Schwab and HSA Financial institution, however now could be the case if like everybody else I switch almost every little thing to Constancy (leaving a small quantity behind to maintain HSA Financial institution lively)
Re: HSA Bank eliminating investment options
bmira wrote: ↑Wed Aug 28, 2024 8:44 pmtj wrote: ↑Tue Aug 27, 2024 1:30 pmbmira wrote: ↑Tue Aug 27, 2024 1:07 pmLyrrad wrote: ↑Mon Aug 26, 2024 7:37 pm
While you’re in CA, your HSA contributions are usually not state-tax deductible. It could be reported in your W2 for contributions out of your paycheck whereas a tax resident of California.Payroll HSA contributions are exempt from FICA taxes, as others have famous.
When it comes to planning for a transfer to CA (or NJ) from a state that doesn’t tax HSAs:
– Take into account promoting and repurchasing any tax heaps with an unrealized capital achieve earlier than the transfer to extend the price foundation (e.g. tax-gain harvesting).
– Take into account tax-loss harvesting any heaps with unrealized losses after transferring to CA. You would then deduct these losses out of your CA revenue, although it complicates your state return.
– If transferring mid-year, contemplate frontloading contributions earlier than transferring to doubtlessly keep away from state taxation that 12 months.I’m glad with the tax reporting instruments at Constancy on the Desktop website. Whereas the “Tax Data YTD” web page is not out there for HSAs, I’m able to view my “Realized Acquire/Loss Abstract”, and have a filter for my year-to-date Dividends/Curiosity on the “Exercise & Orders” tab.
Thanks for the information. I am going to promote/repurchase unrealized capital good points earlier than transferring to CA
For folks utilizing Constancy for HSA, is everybody simply consuming the $2.50 charge as a value of with the ability to use Constancy or is there an uncomplicated approach to get it waived?
I do not know what $2.50 charge you might be speaking about. Constancy expenses no charges for it is HSAs.
The HSA Financial institution charge for having a money steadiness beneath a sure threshold, whether or not it is $3,000 or $5,000. It is not one thing I’ve ever beforehand thought of given the connection between Schwab and HSA Financial institution, however now could be the case if like everybody else I switch almost every little thing to Constancy (leaving a small quantity behind to maintain HSA Financial institution lively)
I by no means bought charged such a charge by HSA Financial institution. You should not have GEHA?
Re: HSA Bank eliminating investment options
tj wrote: ↑Wed Aug 28, 2024 9:04 pmbmira wrote: ↑Wed Aug 28, 2024 8:44 pmtj wrote: ↑Tue Aug 27, 2024 1:30 pmbmira wrote: ↑Tue Aug 27, 2024 1:07 pmLyrrad wrote: ↑Mon Aug 26, 2024 7:37 pm
While you’re in CA, your HSA contributions are usually not state-tax deductible. It could be reported in your W2 for contributions out of your paycheck whereas a tax resident of California.Payroll HSA contributions are exempt from FICA taxes, as others have famous.
When it comes to planning for a transfer to CA (or NJ) from a state that doesn’t tax HSAs:
– Take into account promoting and repurchasing any tax heaps with an unrealized capital achieve earlier than the transfer to extend the price foundation (e.g. tax-gain harvesting).
– Take into account tax-loss harvesting any heaps with unrealized losses after transferring to CA. You would then deduct these losses out of your CA revenue, although it complicates your state return.
– If transferring mid-year, contemplate frontloading contributions earlier than transferring to doubtlessly keep away from state taxation that 12 months.I’m glad with the tax reporting instruments at Constancy on the Desktop website. Whereas the “Tax Data YTD” web page is not out there for HSAs, I’m able to view my “Realized Acquire/Loss Abstract”, and have a filter for my year-to-date Dividends/Curiosity on the “Exercise & Orders” tab.
Thanks for the information. I am going to promote/repurchase unrealized capital good points earlier than transferring to CA
For folks utilizing Constancy for HSA, is everybody simply consuming the $2.50 charge as a value of with the ability to use Constancy or is there an uncomplicated approach to get it waived?
I do not know what $2.50 charge you might be speaking about. Constancy expenses no charges for it is HSAs.
The HSA Financial institution charge for having a money steadiness beneath a sure threshold, whether or not it is $3,000 or $5,000. It is not one thing I’ve ever beforehand thought of given the connection between Schwab and HSA Financial institution, however now could be the case if like everybody else I switch almost every little thing to Constancy (leaving a small quantity behind to maintain HSA Financial institution lively)
I by no means bought charged such a charge by HSA Financial institution. You should not have GEHA?
Nope not GEHA. $2.50/mth is pretty inconsequential IMO however am aiming to optimize nonetheless. Appears like most individuals right here do not have a charge although
Re: HSA Bank eliminating investment options
bmira wrote: ↑Thu Aug 29, 2024 4:32 pmtj wrote: ↑Wed Aug 28, 2024 9:04 pmbmira wrote: ↑Wed Aug 28, 2024 8:44 pmtj wrote: ↑Tue Aug 27, 2024 1:30 pmbmira wrote: ↑Tue Aug 27, 2024 1:07 pmThanks for the information. I am going to promote/repurchase unrealized capital good points earlier than transferring to CA
For folks utilizing Constancy for HSA, is everybody simply consuming the $2.50 charge as a value of with the ability to use Constancy or is there an uncomplicated approach to get it waived?
I do not know what $2.50 charge you might be speaking about. Constancy expenses no charges for it is HSAs.
The HSA Financial institution charge for having a money steadiness beneath a sure threshold, whether or not it is $3,000 or $5,000. It is not one thing I’ve ever beforehand thought of given the connection between Schwab and HSA Financial institution, however now could be the case if like everybody else I switch almost every little thing to Constancy (leaving a small quantity behind to maintain HSA Financial institution lively)
I by no means bought charged such a charge by HSA Financial institution. You should not have GEHA?
Nope not GEHA. $2.50/mth is pretty inconsequential IMO however am aiming to optimize nonetheless. Appears like most individuals right here do not have a charge although
We’ve GEHA and our charge was waived so long as you had $1000 at HSA Financial institution. I am unsure if that’s nonetheless a requirement.
Re: HSA Bank eliminating investment options
RJC wrote: ↑Fri Aug 30, 2024 7:45 ambmira wrote: ↑Thu Aug 29, 2024 4:32 pmtj wrote: ↑Wed Aug 28, 2024 9:04 pmbmira wrote: ↑Wed Aug 28, 2024 8:44 pmThe HSA Financial institution charge for having a money steadiness beneath a sure threshold, whether or not it is $3,000 or $5,000. It is not one thing I’ve ever beforehand thought of given the connection between Schwab and HSA Financial institution, however now could be the case if like everybody else I switch almost every little thing to Constancy (leaving a small quantity behind to maintain HSA Financial institution lively)
I by no means bought charged such a charge by HSA Financial institution. You should not have GEHA?
Nope not GEHA. $2.50/mth is pretty inconsequential IMO however am aiming to optimize nonetheless. Appears like most individuals right here do not have a charge although
We’ve GEHA and our charge was waived so long as you had $1000 at HSA Financial institution. I am unsure if that’s nonetheless a requirement.
It has been decreased from 1000 a very long time in the past.
Re: HSA Bank eliminating investment options
Go surfing in Constancy and request a separate switch. I did a switch for Schwab and one other one for HSA Financial institution which is all in money.
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After a number of weeks, I simply bought a letter from Constancy stating the HSA Checking account switch is not doable for them to execute because of HSA Financial institution’s coverage not to discuss any accounts besides on to prospects. I assume I now have some hoops to leap by to truly shut the account however am additionally fearful about any transfers I execute instantly being categorized for taxes as HSA attracts fairly than trustee-to-trustee. Has anybody had this occur?
Re: HSA Bank eliminating investment options
I simply bought a letter from Constancy stating the HSA Checking account switch is not doable for them to execute because of HSA Financial institution’s coverage not to discuss any accounts besides on to prospects. I assume I now have some hoops to leap by to truly shut the account however am additionally fearful about any transfers I execute instantly being categorized for taxes as HSA attracts fairly than trustee-to-trustee. Has anybody had this occur?
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Re: HSA Bank eliminating investment options
mpny wrote: ↑Sat Aug 31, 2024 6:19 am
I attempted doing two account switch requests into Constancy. The Schwab one labored, the HSA Financial institution request (for a <$1000 money the rest there) simply failed/bought rejected after a number of weeks.I simply bought a letter from Constancy stating the HSA Checking account switch is not doable for them to execute because of HSA Financial institution’s coverage not to discuss any accounts besides on to prospects. I assume I now have some hoops to leap by to truly shut the account however am additionally fearful about any transfers I execute instantly being categorized for taxes as HSA attracts fairly than trustee-to-trustee. Has anybody had this occur?
Fwiw, I bought the identical from Constancy and emailed HSA Financial institution. They mentioned they will not launch particulars except I name. Right here we go…
Re: HSA Bank eliminating investment options
“Thanks in your request to switch belongings to Constancy. As of the date on this letter, your switch from HSA BANK has
not but been accomplished.
We have been unable to get any details about the standing of your switch from HSA BANK due to their coverage to
solely launch data to account house owners.
For an replace in your switch, you’ll need to contact HSA BANK. In case you require further help from Constancy
afterwards, please name us at (800) 756-0128 and reference the file quantity beneath.
Sincerely,
Constancy Investments”
Re: HSA Bank eliminating investment options
I initiated a money switch (lower than the full money out there) from HSA Financial institution to Constancy on August 11. Nonetheless no phrase, although Constancy had an estimated completion date of August 30.
Re: HSA Bank eliminating investment options
This HSA Bank form appears to point {that a} paper type with bodily signature is required, so possibly that’s the challenge.
Maybe it will be simpler to provoke a switch from Constancy to tug from DriveWealth as an alternative of from HSA Financial institution?
Re: HSA Bank eliminating investment options
nps wrote: ↑Sat Aug 31, 2024 1:19 pm
Has anybody gotten a TOA to work from HSA Financial institution by Constancy’s on-line course of?This HSA Bank form appears to point {that a} paper type with bodily signature is required, so possibly that’s the challenge.
Maybe it will be simpler to provoke a switch from Constancy to tug from DriveWealth as an alternative of from HSA Financial institution?
I did. Here is my HSA to Constancy timeline… I did not use the HSA Financial institution type.
Aug 5 – Initiated HSA Financial institution to Constancy switch from the Constancy web site.
Aug 15 – HSA Financial institution despatched a examine to Constancy.
Aug 21 – Constancy acquired the HSA examine and put an 8 day maintain on the examine
Aug 29 – All funds had been out there to commerce/withdraw
The Schwab to Constancy switch was a lot simpler
Aug 16 – Initiated a Schwab to Constancy switch from the Constancy web site for a small quantity of surprising dividend/curiosity.
Aug 21 – Constancy acquired the Schwab switch electronically and I used to be capable of commerce/withdraw funds the identical day.
Re: HSA Bank eliminating investment options
I do not like having the charge (0.10%) and additional funding account (HSA Make investments plus Constancy) however having to manually provoke transfers of money regularly and given HSA Financial institution’s wonky switch course of (delays? mailing checks?) appears not well worth the problem. Additional, after I retire, I might switch all belongings out of HSA Financial institution and “alternative” to Constancy at one time.
I’m curious what low-cost goal date fund choices can be found within the HSA Make investments “alternative” program.
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Re: HSA Bank eliminating investment options
hamhocs wrote: ↑Sat Aug 31, 2024 7:17 am
Simply bought a message from Constancy. My switch of money has been taking longer this go round. Is HSA Financial institution overwhelmed now or are they going to play video games?“Thanks in your request to switch belongings to Constancy. As of the date on this letter, your switch from HSA BANK has
not but been accomplished.
We have been unable to get any details about the standing of your switch from HSA BANK due to their coverage to
solely launch data to account house owners.
For an replace in your switch, you’ll need to contact HSA BANK. In case you require further help from Constancy
afterwards, please name us at (800) 756-0128 and reference the file quantity beneath.
Sincerely,
Constancy Investments”
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Re: HSA Bank eliminating investment options
baldtaxguy wrote: ↑Solar Sep 01, 2024 8:17 am
I acquired the identical. I am 100% pondering that is recreation taking part in by HSA Financial institution. I contacted HSA Financial institution and so they indicated they by no means acquired the request from Constancy for my switch I initiated. After performing 5 switch transactions through the years from HSA Financial institution to my Constancy HSA, all of the sudden HSA Financial institution isn’t receiving data from Constancy.hamhocs wrote: ↑Sat Aug 31, 2024 7:17 am
Simply bought a message from Constancy. My switch of money has been taking longer this go round. Is HSA Financial institution overwhelmed now or are they going to play video games?“Thanks in your request to switch belongings to Constancy. As of the date on this letter, your switch from HSA BANK has
not but been accomplished.
We have been unable to get any details about the standing of your switch from HSA BANK due to their coverage to
solely launch data to account house owners.
For an replace in your switch, you’ll need to contact HSA BANK. In case you require further help from Constancy
afterwards, please name us at (800) 756-0128 and reference the file quantity beneath.
Sincerely,
Constancy Investments”
What was the following step they steered?
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Re: HSA Bank eliminating investment options
stilllurking wrote: ↑Solar Sep 01, 2024 8:29 ambaldtaxguy wrote: ↑Solar Sep 01, 2024 8:17 am
I acquired the identical. I am 100% pondering that is recreation taking part in by HSA Financial institution. I contacted HSA Financial institution and so they indicated they by no means acquired the request from Constancy for my switch I initiated. After performing 5 switch transactions through the years from HSA Financial institution to my Constancy HSA, all of the sudden HSA Financial institution isn’t receiving data from Constancy.hamhocs wrote: ↑Sat Aug 31, 2024 7:17 am
Simply bought a message from Constancy. My switch of money has been taking longer this go round. Is HSA Financial institution overwhelmed now or are they going to play video games?“Thanks in your request to switch belongings to Constancy. As of the date on this letter, your switch from HSA BANK has
not but been accomplished.
We have been unable to get any details about the standing of your switch from HSA BANK due to their coverage to
solely launch data to account house owners.
For an replace in your switch, you’ll need to contact HSA BANK. In case you require further help from Constancy
afterwards, please name us at (800) 756-0128 and reference the file quantity beneath.
Sincerely,
Constancy Investments”What was the following step they steered?
HSA Financial institution customer support indicated I ought to contact Constancy, which I did, and the Constancy consultant indicated that HSA Financial institution is solely not responding to the request, which was confirmed to have been in any other case precisely communicated. HSA financial institution is solely not responding to Constancy. I then despatched an e mail to HSA Financial institution to doc every little thing, and the response I acquired was totally incorrect, stating they had been sorry I used to be selecting to shut my HSA Checking account, which isn’t the case. I shall be calling HSA Financial institution customer support as soon as once more subsequent week to stroll by this as soon as once more, and discover another choices to execute on the switch. In the meantime, I’ve instructed my employer to stop additional pre-tax HSA contributions to my HSA Checking account, and I’ll make the remaining 2024 contributions as much as the max on an after-tax foundation to Constancy. I am going to depart the HSA Checking account open to simply accept the employer match granted initially of 2025. I am retiring in 2025 and I am going to then shut the HSA Checking account and use Constancy completely for future contributions and distributions.
Re: HSA Bank eliminating investment options
(That chance may additionally be of curiosity to folks in California and New Jersey who would wish to be sure that in-kind transfers go as easily as doable.)
Re: HSA Bank eliminating investment options
sidr wrote: ↑Solar Sep 01, 2024 10:02 am
I have been studying this thread rigorously, as I’ve GEHA, like others. I like Schwab and my HSA nonetheless reveals that dividend reinvestment is on. There are a whole lot of posts about switching to Constancy, which isn’t of curiosity to me. Can somebody please clarify to me if it is doable simply to create one other HSA account at Schwab (with an account quantity that, presumably, HSABank would not have entry to) and have Schwab transfer the belongings from the HSABank-linked Schwab-HSA to a different Schwab-HSA? (Does Schwab have a restrict of 1 HSA account per account-holder?) I’ve diligently regarded by the 8 pages of this thread for a solution to that, I have not discovered it, apologies if I’ve ignored one thing.(That chance may additionally be of curiosity to folks in California and New Jersey who would wish to be sure that in-kind transfers go as easily as doable.)
No, Schwab doesn’t supply particular person HSA’s.
You would need to open a Schwab account at Full of life.
Re: HSA Bank eliminating investment options
I believe HSA Financial institution could also be experiencing a “financial institution run”, and that’s the reason transfers are being delayed or denied.
I’m sad that HSA Financial institution now has no historical past of my TD Ameritrade or Schwab account exercise. Very low forehead.
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Re: HSA Bank eliminating investment options
Trapper wrote: ↑Solar Sep 01, 2024 11:36 am
I believe HSA Financial institution could also be experiencing a “financial institution run”, and that’s the reason transfers are being delayed or denied.
I’m sad that HSA Financial institution now has no historical past of my TD Ameritrade or Schwab account exercise. Very low forehead.
I need to admit that this has crossed my thoughts.
Re: HSA Bank eliminating investment options
Trapper wrote: ↑Solar Sep 01, 2024 11:36 am
I believe HSA Financial institution could also be experiencing a “financial institution run”, and that’s the reason transfers are being delayed or denied.
I’m sad that HSA Financial institution now has no historical past of my TD Ameritrade or Schwab account exercise. Very low forehead.
I ponder if HSA Financial institution underestimated the variety of holders that may react to this transformation by fleeing their platform.
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Re: HSA Bank eliminating investment options
Lyrrad wrote: ↑Fri Aug 23, 2024 4:24 pmJD7 wrote: ↑Fri Aug 23, 2024 2:35 pm
I spoke with a customer support rep at Constancy and he mentioned in form transfers to an HSA weren’t an choice. I believe he should be misinformed or they not too long ago modified their coverage.The query I’ve is on tax reporting. I do not need this switch to point out up as a double HSA contribution with the identical cash reported by HSA Financial institution and Constancy. The Constancy rep mentioned they may code it as a roll over, however I simply wish to make certain that’s right.
I’ve solely CDs and treasuries within the account.
Thanks
That rep seems to be misinformed.
There are two predominant methods of transferring funds.
A trustee to trustee switch would end in money and/or securities being despatched instantly from one custodian to the opposite. I normally provoke these from the Constancy web site. This may be accomplished as usually as you need, and it doesn’t have an effect on your tax return.
A 60-day rollover may be accomplished as soon as per rolling 1 12 months interval. It includes withdrawing money from one custodian. Upon receipt, you possibly can contact Constancy to make the rollover contribution. I’ve solely been capable of full this by telephone, for the reason that contribution must be correctly categorized as a rollover. The withdrawal shall be reported on a 1099-SA and the rollover will ultimately be reported on a 5498-SA. The latter type isn’t wanted to file. The withdrawal shall be reported on Line 14a of Type 8889 and the rollover shall be reported on line 14b of the Type 8889. Line numbers from 2023 variations of kinds. Presumably the IRS can ultimately use type 5498-SA to confirm the rollover occurred.
When initiating a trustee-to-trustee HSA switch (Schwab to Constancy) from the Constancy aspect, can one specify the place the incoming cash will get invested at Constancy?
At Schwab I’m invested of their S&P 500 Index Fund (SWPPX) and their Worldwide Index Fund (SWISX). Constancy affords these two Schwab funds, however there’s a $75 transaction charge for every. Is it doable to keep away from this charge by directing the incoming cash into Constancy’s S&P 500 Fund (FXAIX) and Worldwide Index Fund (FSPSX)?
If not, what are the opposite choices to do that switch with out incurring a transaction charge on the Constancy aspect.
Thanks.
Re: HSA Bank eliminating investment options
investor4life wrote: ↑Mon Sep 02, 2024 10:57 am
When initiating a trustee-to-trustee HSA switch (Schwab to Constancy) from the Constancy aspect, can one specify the place the incoming cash will get invested at Constancy?At Schwab I’m invested of their S&P 500 Index Fund (SWPPX) and their Worldwide Index Fund (SWISX). Constancy affords these two Schwab funds, however there’s a $75 transaction charge for every. Is it doable to keep away from this charge by directing the incoming cash into Constancy’s S&P 500 Fund (FXAIX) and Worldwide Index Fund (FSPSX)?
If not, what are the opposite choices to do that switch with out incurring a transaction charge on the Constancy aspect.
Thanks.
Switch them as-is after which promote them at Constancy. The transaction charge is just for shopping for.
Re: HSA Bank eliminating investment options
I used to have an HSA at Well being Financial savings Directors. That they had affordable charges and first rate Vanguard funds out there to spend money on. However I made a decision to switch to Constancy to consolidate some accounts, scale back charges to zero, and have extra investing choices.
Just a little bit afterward Well being Financial savings Directors determined to exit the HSA enterprise and arranged to transfer the accounts to HealthEquity.
It appears administering HSAs might be a tough enterprise.
Normally I am glad I selected Constancy. It appears extra professionally run, and extra more likely to stick round.
Re: HSA Bank eliminating investment options
I hope we will get some readability as to why HSA Financial institution is not responding to Constancy requests and what charges there shall be with GEHA HDHP transferring ahead.
Re: HSA Bank eliminating investment options
RJC wrote: ↑Mon Sep 02, 2024 4:31 pm
I am unsure what to do with my remaining funds at HSA Financial institution. Constancy has my Schwab switch and my employer is contributing on to Constancy HSA every pay interval.I hope we will get some readability as to why HSA Financial institution is not responding to Constancy requests and what charges there shall be with GEHA HDHP transferring ahead.
The one “charge” that needs to be anticipated is the 0.1% aum charge.
Re: HSA Bank eliminating investment options
RJC wrote: ↑Mon Sep 02, 2024 4:31 pm
I am unsure what to do with my remaining funds at HSA Financial institution. Constancy has my Schwab switch and my employer is contributing on to Constancy HSA every pay interval.I hope we will get some readability as to why HSA Financial institution is not responding to Constancy requests and what charges there shall be with GEHA HDHP transferring ahead.
I’ve GEHA by federal worker advantages. I’ve contacted HSA financial institution twice and in addition exchanged written affirmation of the next data (for my HSA account). There is no such thing as a 0.1% charge for HSA Checking account steadiness minimal for FY25. Charges are waived for all by FY24.
With the above data I’ve opened an HSA “Alternative” account and it has mutual fund variations of the ETFS I had invested in with Schwab HSBA.
See screenshots beneath.
Regards,
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Re: HSA Bank eliminating investment options
BenS wrote: ↑Mon Sep 02, 2024 4:46 pmRJC wrote: ↑Mon Sep 02, 2024 4:31 pm
I am unsure what to do with my remaining funds at HSA Financial institution. Constancy has my Schwab switch and my employer is contributing on to Constancy HSA every pay interval.I hope we will get some readability as to why HSA Financial institution is not responding to Constancy requests and what charges there shall be with GEHA HDHP transferring ahead.
I’ve GEHA by federal worker advantages. I’ve contacted HSA financial institution twice and in addition exchanged written affirmation of the next data (for my HSA account). There is no such thing as a 0.1% charge for HSA Checking account steadiness minimal for FY25. Charges are waived for all by FY24.
With the above data I’ve opened an HSA “Alternative” account and it has mutual fund variations of the ETFS I had invested in with Schwab HSBA.
See screenshots beneath.
Regards,
Can anybody inform who custodies the shares for HSA Alternative? Maybe transferring funds to the Alternative account after which doing an ACAT to Constancy is an choice? Reasonably than attempting to work instantly with HSA Financial institution?
Re: HSA Bank eliminating investment options
stilllurking wrote: ↑Mon Sep 02, 2024 4:50 pmBenS wrote: ↑Mon Sep 02, 2024 4:46 pmRJC wrote: ↑Mon Sep 02, 2024 4:31 pm
I am unsure what to do with my remaining funds at HSA Financial institution. Constancy has my Schwab switch and my employer is contributing on to Constancy HSA every pay interval.I hope we will get some readability as to why HSA Financial institution is not responding to Constancy requests and what charges there shall be with GEHA HDHP transferring ahead.
I’ve GEHA by federal worker advantages. I’ve contacted HSA financial institution twice and in addition exchanged written affirmation of the next data (for my HSA account). There is no such thing as a 0.1% charge for HSA Checking account steadiness minimal for FY25. Charges are waived for all by FY24.
With the above data I’ve opened an HSA “Alternative” account and it has mutual fund variations of the ETFS I had invested in with Schwab HSBA.
See screenshots beneath.
Regards,
Can anybody inform who custodies the shares for HSA Alternative? Maybe transferring funds to the Alternative account after which doing an ACAT to Constancy is an choice? Reasonably than attempting to work instantly with HSA Financial institution?
Why not simply use it and switch it out if you retire or separate? What’s with the necessity to micromanage the funds away from HSA Financial institution?
