Can I move the money in my HSA fund to another HSA fund?

Question

The company that I worked for has sold some holdings to another company. This includes my job. The new employer does not offer a high deductible/HSA eligible health insurance plan. I can still use the funds in my HSA but each month the manager (Wageworks) charges 6 dollars in fees that had previously been paid by the employer. I know I can’t get to the money without using it for medical expenses but can I transfer it to another manager?  Thank you.

Eva · Answer

See if your credit union or bank offers HSA accounts. You can do a trustee to trustee transfer.

D.E.B.S. · Answer

Google is your friend.  There are countless results on this.

Anonymous · Answer

For amounts below $5000, HSABANK charges $3/month.  Above $5000, $0.

StephenWeinstein · Answer

Yes

There is likely to be  a fee of about $25 for the transfer, but it's worth it because you're going through almost 3 times that much every year.

Trending News

Can I move the money in my HSA fund to another HSA fund?

4 Answers