You may have to shop around to look for a bank/investment company that meets your intended invesetment needs and activity levels. If you intend to use your HSA as more of a short-term "pass through" account (e.g., similar to an FSA, where $ goes in and then is routinely pulled), you may not need anything more than a savings account (with debit card or check writing priveleges).Because I hope to not tap into my funds for a while, I specifically shopped for a bank/investment company that provided self-directed brokerage options. I ended up chosing Bancorp. As I mentioned previously, fees for investing (with Bancorp, anyway) seem steep: $26 per buy/sell trade, and it looks like there are fees for inactivity (at least one trade required per year otherwise $25 fee), and also a fee if your brokerage balance falls below a minimum amount. I don't believe any of those fees are applicable if you simply keep everything in the regular savings account. With good planning, the fees can be minimized.I don't see any reason why one could not open up a 2nd HSA account (as foolbar suggests) to deposit additional funds to reach the limit cap (not otherwise funded by employer).MT
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra