https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 29 Apr 2026 15:07:19 +0000 https://boards.hellobee.com/topic/transferring-hsa-money#post-2443570 Sun, 31 Jan 2016 11:30:13 +0000 sunny 2443570@https://boards.hellobee.com/ <p>@regberadaisy: here's a list of HSA custodians. Alliant CU might be a good option if you're just looking to keep it in cash and not invest the funds. </p> <p><a href="https://www.bogleheads.org/wiki/Health_savings_account" rel="nofollow">https://www.bogleheads.org/wiki/Health_savings_account</a> </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443486 Sun, 31 Jan 2016 09:18:32 +0000 Littlebit7 2443486@https://boards.hellobee.com/ <p>@regberadaisy: I didn't see any It says at the bottom HSA to HSA transfers don't incur a fee from HSA bank but your old provider may charge one to close your account. ?<br /> <a href="http://www.hsabank.com/hsabank/members/transfer-rollover-hsa-funds" rel="nofollow">http://www.hsabank.com/hsabank/members/transfer-rollover-hsa-funds</a></p> <p>We have been happy with them but my husbands employer also set this up so I was removed from the process. I don't know if fees are charged to the employer. </p> <p>The one thing about HSA bank is a limit of $1000 per transaction using the debit card. I had to pay for a medical procedure up front and learned the hard way. We had to do two transactions one $1000 and one $800 to pay the bill just FYI :) it just took some trial and error to figure that out! </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443482 Sun, 31 Jan 2016 09:12:17 +0000 regberadaisy 2443482@https://boards.hellobee.com/ <p>@Littlebit7: what fees, if any, or associated? </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443296 Sat, 30 Jan 2016 22:08:24 +0000 Littlebit7 2443296@https://boards.hellobee.com/ <p>@regberadaisy: we use HSA Bank we have had zero problems. A quick check on their website shows a fairly painless process to rollover from another institution </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443289 Sat, 30 Jan 2016 22:02:06 +0000 regberadaisy 2443289@https://boards.hellobee.com/ <p>@Littlebit7: ughhhh another thing to figure out. 🙈 </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443288 Sat, 30 Jan 2016 21:59:10 +0000 Littlebit7 2443288@https://boards.hellobee.com/ <p>@regberadaisy: you probably have flex spend with your current one. Use or lose</p> <p>Roll that shiz over. You can and will definitely use it in the future especially if you have. A flex spend. One year you will vastly under estimate your OOP health care expenses!! </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443287 Sat, 30 Jan 2016 21:55:31 +0000 regberadaisy 2443287@https://boards.hellobee.com/ <p>@futuremama: we do but it's not the same. It's a use it or lose it. The old one was mine forever. Or maybe the current one is HRA not HSA? </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443283 Sat, 30 Jan 2016 21:50:19 +0000 futuremama 2443283@https://boards.hellobee.com/ <p>Do you have an HSA at your current job? You can roll it into that one. </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443282 Sat, 30 Jan 2016 21:49:58 +0000 sunny 2443282@https://boards.hellobee.com/ <p>You'll probably get some sort of tax form for 2016 saying you had a distribution if you cash it out. If you don't have a qualifying health expenditure, Uncle Sam will want a penalty. </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443279 Sat, 30 Jan 2016 21:46:56 +0000 regberadaisy 2443279@https://boards.hellobee.com/ <p>@mediagirl: yeah, if I'm getting a penalty, I'm definitely not cashing it out! LOL </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443278 Sat, 30 Jan 2016 21:45:15 +0000 mediagirl 2443278@https://boards.hellobee.com/ <p>My best guess is you will have a 20% penalty and be taxed on the money. Don't cash it out would be any financial advisor's suggestion. </p> https://boards.hellobee.com/topic/transferring-hsa-money#post-2443273 Sat, 30 Jan 2016 21:29:17 +0000 regberadaisy 2443273@https://boards.hellobee.com/ <p>I have HSA funds from a previous job that's managed by a local bank. Thus far I've just left it in there and filed a claim when I needed to.</p> <p>Today I got a notice that the bank will no longer be managing HSA accounts. They will be automatically transferring all accounts to another financial institution that does this. I have until March to decide if I want to have them<br /> A) transfer to another institution of my choice<br /> B) cash it out. </p> <p>I would rather cash it out. But don't I get penalized for cashing out a HSA account? But will I in this scenario? </p> <p>Will call on Monday but just trying to think ahead.</p> <p>Thanks! </p>