Anybody here have any HSA suggestions? I've got a high deductible plan and am about to start shopping for an HSA. I'm not sure if I want to deal with my bank or find something else. I think my bank's fees are only 4 bones a month to administer it.
Advice for HSA account
- Thread starter AllBizNiz
- Start date
Ain't a whole lot to them...I would suggest using your own bank so you keep a relationship, I did some shopping when we bought and that is what we ended up with, our current bank, marginally more expensive.
Try Msaver - First Horizon Msaver - Health Savings Accounts (HSA) - pioneer of the industry - online enrollment, easy peasy. Part of First Tennessee bank ... Costs a lil bit each month but has several options for investments once you get 1k or more in the account ...
I've had an account for two + years, no problems...
I've had an account for two + years, no problems...
"Beginning in 2011, the costs for over-the-counter drugs not prescribed by a doctor will no longer be eligible for tax-free reimbursement through an HRA, FSA or HSA."
was in the new healthcare bill.. for a lot of us that makes it significantly less useful, depends what you spend on actual medical treatment + prescriptions i guess.
was in the new healthcare bill.. for a lot of us that makes it significantly less useful, depends what you spend on actual medical treatment + prescriptions i guess.
I've got mine with HSABank.com. They waive the fee if you have a certain amount in the account. Plus, they have a deal with Ameritrade. They'll open an account with Ameritrade in a day or so, so you can invest your HSA funds if you wish.
Thanks for the replies everybody. I have put some thought into this and have been tossing the idea back and forth with my wife to open up a separate checking account to use only for medical expenses. I know there will be no tax incentives, but the money at least won't be locked up and held ransom to an addition 10 % tax on top of the income tax imposed upon it if I were to make a withdraw that wasn't for medical expenses.
but the money that you don't take out improperly wouldn't be taxed, so unless you did that with the vast majority of it you'd come out on top
Definitely better to get the HSA - whatever you leave in will contribute to your max contribution for that year, and a lot of plans now offer debit cards for easy access whether you're paying medical expenses or you just have an emergency and need quick access.