You might already know the benefits of an HSA including the short-term tax-savings and the long-term tax-free growth. But where can you get a health savings account? Finding the right HSA today will only increase your savings potential, but also reduce wasted fee costs (or time stuck on hold with customer service).
Where Can I Get a Health Savings Account?
With over 2,000 HSA providers available on the market, from small banks to large public corporations, finding an HSA provider might be easier than you think. The real question is where can you find the best HSA provider?
- With over 22 million HSA accounts in the US, you might want to start with asking your friends, co-workers or even your doctor.
- If you want expert advice there are dozens of blog reviews that help break down the best HSA savings providers and the best HSA investment providers.
Do your research. That time investment will pay off in the possible fees saved or investment options unlocked.
Is There one Place to Search and Compare HSA Providers?
It’s difficult to find one website that compares those 1,000s of HSA providers, but HSASearch.com might be the best bet. They compare fees and benefits so you can quickly research the best HSA provider.
Can I Transfer My Existing HSA?
Unlike other healthcare accounts, you own your HSA, for life. Just like a 401k or IRA, you can transfer your HSA funds to a new provider. There are a few different options, all of which have tax restrictions or implications. You can read more about those options (HSA rollover, HSA trustee-to-trustee transfer, IRA to HSA transfer and an in-kind investments transfer) here.
Now you know where to find (and compare) HSA providers. You can select the HSA platform that works best for you no matter your savings or investing strategy. Make sure when you review your HSA options your uncover any hidden fees, so you don’t need to switch providers year after year.
If you need more help with health account decisions, check out our blog. We will make you a healthcare benefits expert in no time, without any extra work or effort on your end.
Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.