I probably should have said I was also a federal employee like the poster that asked the question. I think we might get fees waived because of that. I do leave a few cents in HSA bank just so it doesn't get closed. To do the payroll deduction, I just need to enter the routing and account number in the portal. Feds can have different portals depending on where the work. The things you brought up might be different for you.Thank you for the info. Can you sweep the full amount to Fidelity without fee or penalty, or must you leave a token balance in HSA Bank for safety? I'm not sure it could be possible in all plans to redirect payroll deductions straight to Fidelity. How would one go about this? Seems like something the benefits department at one's employer would have to support and bless. I don't see it happening at my employer. Unless I'm fundamentally misunderstanding the process (which is possible).Yes, you do the transfer in your Fidelity account. It is pretty simple but the transfer might take a couple weeks to get to Fidelity. If you have money in the Schwab account, you need to transfer it in cash to HSA Bank before doing the transfer. If you do your own contributions to your HSA through payroll deduction, you can also set that up to go to Fidelity instead of HSA Bank.How do you do this? Is it a pull from Fidelity?This makes me even happier that I sweep excess cash from HSABank to Fidelity. Fidelity doesn't keep changing things around on me, doesn't nickel and dime me, offers good value, has excellent customer service, leaves me alone, etc etc.
My HSA (at HSA Bank) is through Fed. Govt employment. It only has a push out option for Schwab. With this change from HSA bank, I’m going to start a Fidelity HSA.
Statistics: Posted by hamhocs — Tue Jul 23, 2024 10:45 am — Replies 21 — Views 1704