Health equity savings

[a_sagittarian]

How to make use of HSA funds. Is it better to move them to bank account or can we invest from hsa account itself ?

[NeneRajuNeneManthri]

You should be able to invest from hsa itself. I don’t think you can move from hsa to your personal bank easily. 

[San_K]

7 hours ago, NeneRajuNeneManthri said:

You should be able to invest from hsa itself. I don’t think you can move from hsa to your personal bank easily. 

 

8 hours ago, a_sagittarian said:

How to make use of HSA funds. Is it better to move them to bank account or can we invest from hsa account itself ?

Investment is definitely a better option.

Moving to bank also not tough. In HSA account, select the claims you are already paid, it will give two options - transfer to bank or check option. You can chose whichever option works out for you.

[a_sagittarian]

On 11/13/2022 at 3:33 PM, San_K said:

 

Investment is definitely a better option.

Moving to bank also not tough. In HSA account, select the claims you are already paid, it will give two options - transfer to bank or check option. You can chose whichever option works out for you.

How to invest from here ? 

[a_sagittarian]

Ltt

[a_sagittarian]

Can someone tell me if it is possible to add funds to fidelity from HSA (health equity account)

[rmJU72]

You should have option to see which funds to invest in the HSA.

Some people who can afford it, always pay out of pocket for medical expenses like copays or deductibles and keep the hsa funds invested until they really want to use them. They save all the receipts so that they can claim them much later from the hsa investments

[a_sagittarian]

16 minutes ago, rmJU72 said:

You should have option to see which funds to invest in the HSA.

Some people who can afford it, always pay out of pocket for medical expenses like copays or deductibles and keep the hsa funds invested until they really want to use them. They save all the receipts so that they can claim them much later from the hsa investments

Only mutual funds unnayi kada ?

I am looking to move them to fidelity account directly without going through claiming and all. Is it even possible.

[rahul_arora]

Off topic but....

HSA card tho on counter medicines konoccha ? like in CVS/Walgreens

[rmJU72]

7 minutes ago, rahul_arora said:

Off topic but....

HSA card tho on counter medicines konoccha ? like in CVS/Walgreens

Yes, but I usually buy everything with my cashback credit card and they claim from HSA. It’s a hassle but u get the cashback

[rmJU72]

8 minutes ago, a_sagittarian said:

Only mutual funds unnayi kada ?

I am looking to move them to fidelity account directly without going through claiming and all. Is it even possible.

If it’s a fidelity HSA it may be possible. Call fidelity and they should be able to tell us if it’s is.
If you want take money out of the HSA type accounts, you will be penalized

[rahul_arora]

1 hour ago, rmJU72 said:

Yes, but I usually buy everything with my cashback credit card and they claim from HSA. It’s a hassle but u get the cashback

nenu seperate ga claim cheyyatledu.. direct gaa HSA card vadutunna in CVS/Walgreens store.

Someone told ala cheyyakudadu.... only for prescribed medicines/medication ki vaadali

Anduke doubt

[rmJU72]

I think it’s ok to use for regular non prescriptions meds as well.

[a_sagittarian]

7 hours ago, rmJU72 said:

If it’s a fidelity HSA it may be possible. Call fidelity and they should be able to tell us if it’s is.
If you want take money out of the HSA type accounts, you will be penalized

It seems tough to get reimbursement for the actual medical bills too.

and they are charging me admin fee $9.49 every month.