I always rolled everything from HealthEquity to Fidelity as I went, but when I retired I had to leave $25 in the account for closure. There was no other option.Hi all,
I was on HealthEquity for HSA last year and my company changed plans to Optum. I had $25~ in my balance since my company was previously sponsoring it and covered any minimum balance fees that were incurred (I moved most of the money over to a Fidelity HSA).
An admin fee was incurred for this month because of the transition and the HealthEquity HSA no longer being sponsored by my company and they're telling me the minimum I need to maintain to avoid fees is $2500. If I want to close the account with them, it'll cost me $25. To avoid the account closure fee, I can spend the $25 on any medical expense and charge it to my debit card.
Is there another way to avoid this though? Could I initiate an HSA rollover, similar to what I had done with moving the funds over to Fidelity? I actually don't recall exactly what I did to roll the funds over and if I just initiated an ACH transfer via Fidelity that was considered a "rollover" so will have to look that back up. Would I be able to do this again to zero the HealthEquity account out, then chat/call them back to close the account out without getting hit with that $25 account closure fee?
Funny thing - the timing of all of that was such that before closure happened, the $25 grew to $25.02
And I had them transfer the $0.02 to Fidelity.
Transfers do not happen via ACH between HealthEquity and Fidelity. HealthEquity literally cuts a check and mails it to Fidelity.
Cheers.
Statistics: Posted by dcabler — Thu Apr 11, 2024 4:14 am — Replies 8 — Views 1064