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  • Health Savings Account

    What HSA do you use and/or recommend?

  • #2
    This is the chart I always refer people to.

     

    WCI has a good article here: https://www.whitecoatinvestor.com/choosing-an-hsa-provider/
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      Bump.

      I have the same question. Bogleheads seem to indicate their preferred ones are changing. WCI's article is from 2012 and these things have changed a whole lot. WCI, is there an update in the works? I guarantee you have a good crowd of new attendings visiting your site since I point all my peers to it!

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      • #4
        I use SelectAccount.  They provide extremely cheap access to Schwab self-directed brokerage accounts.

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        • #5
          I use HSA bank and their TD Ameritrade brokerage to get Vanguard ETF's commission free. They charge $5 per month if you have less than $5k in a cash (non invested) account with them, which I pay as it seems cheaper than the opportunity cost on the 5k.

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          • #6
            Wells Fargo.  I'm happy enough.

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            • #7
              I'm trying to decide between HSA bank and Health Equity based on the feedback i've been reading on this site.

              For the monthly charge at HSA bank, are you able to pay that separately, or do they take the fee from your HSA account?  Also, looking at their site now it seems the fee is only $2.50.  http://www.hsabank.com/~/media/files/fees_s1

              The only fees I'm really finding for Health Equity are the additional monthly 0.033 for their Investor choice funds (where the limited Vanguard funds are).  I also noticed one of the Vanguard funds they offer, VGSNX (expense ration 0.10) is kind of interesting as it has a $5 million minimum investment; I assume that this option is a backdoor in as I can't imagine anyone with that kind of HSA balance

              I should be making my decision within a couple of days, but am leaning toward HSA bank (especially if the fee can be paid outside the HSA).  That $2.50 fee will eventually be outweighed by the 0.033 monthly fee by the time my balance reaches $9,000 or so.  Plus the Vanguard ETF options just seem a bit more robust at HSA bank.

               

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              • #8
                With hsa bank there are really 2 separate accounts, one cash account at hsa (where the fee comes from) and the TD ameritrade brokerage account and you transfer cash over to buy shares of whatever you like. The fees do reduce your HSA contributions (I should note that I didn't try to get them to charge me outside of the account so it may be possible). While it is thru your hsa account, the TD account is indistinguishable from a standard taxable account best I can tell. You log in via the TD website etc.

                I looked at the transactions so I could provide some clarity on the fees. There are 2 fees I pay to hsa bank, 2.50 and 3.00 each monthly and each coming from the cash account. One is for having less than 5k in the cash account and the other is for the brokerage option best I can recall, I'm not sure which is for which.  When I looked into it last year HSAbank was the cheapest option with the big vanguard funds I was interested in - total stock/bond/international. It was pretty easy to set up and get going.

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