Jennifer in MI Posted December 12, 2009 Share Posted December 12, 2009 1. If you have one, what bank is it through? 2. Is it through your employer? 3. If not through an employer, where do you go? 4. Is there a monthly fee? 5. Do you make direct contributions yourself or is it all done through your employer, or both? 6. Is there a list somewhere that shows what can be paid for with this money? We're starting to research it for next year. Dh's employer doesn't offer one, so we'll be doing this on our own. (They just cut our medical benefits significantly and we hope to make some of it up through an HSA.) Our health insurance recommends Wells Fargo. Would it be smart just to go through them? Problem is, there's a monthly fee. I really don't like paying monthly fees on a savings account! Any advice would be appreciated! Quote Link to comment Share on other sites More sharing options...
RegGuheert Posted December 12, 2009 Share Posted December 12, 2009 1. If you have one, what bank is it through?Wells Fargo until December 31, Fidelity after that.2. Is it through your employer?Yes.3. If not through an employer, where do you go? 4. Is there a monthly fee? Yes, apparently our employer pays a monthly fee. We were told that if we did not move our account to Fidelity that we would have to start paying fees on the Wells Fargo account beginning in January.5. Do you make direct contributions yourself or is it all done through your employer, or both?It's all done through my employer. They put in $1000.00/year and we put in our amount pre-tax.6. Is there a list somewhere that shows what can be paid for with this money?Yes, I've seen some lists on the internet of what is an is not payable from an HSA. The lists I've seen make sense to me. Let me know if you cannot find one via Google.We're starting to research it for next year. Dh's employer doesn't offer one, so we'll be doing this on our own. (They just cut our medical benefits significantly and we hope to make some of it up through an HSA.) Our health insurance recommends Wells Fargo. Would it be smart just to go through them? Problem is, there's a monthly fee. I really don't like paying monthly fees on a savings account! Any advice would be appreciated! Wells Fargo has been fine to deal with. We had multiple debit cards, but they now charge $5.00, one-time, for every pair of cards you get over the first two. Fidelity looks fine, also. Good luck! Quote Link to comment Share on other sites More sharing options...
hsmom3tn Posted December 12, 2009 Share Posted December 12, 2009 We have one through Wells Fargo. It has the Visa logo on it and it also says "debit card" on it, although we don't have a PIN. We just use it like a credit card. I'm not sure if there's a monthly fee paid by the employer; but we have a certain amount deducted from my husband's paycheck each week and it goes to the card. I'm not sure where you can get the list of eligible items; there was a list in our insurance packet. We were also told that we could use the money for ineligible items if we needed to, but we would have to pay the taxes on the amount as well as a 10% penalty. The money has come in really handy for us, as we have a high deductible. It can't be used to pay premiums or cobra, though. Quote Link to comment Share on other sites More sharing options...
Tammyla Posted December 12, 2009 Share Posted December 12, 2009 1. If you have one, what bank is it through? 2. Is it through your employer? Yes 3. If not through an employer, where do you go? 4. Is there a monthly fee? No 5. Do you make direct contributions yourself or is it all done through your employer, or both? We dedicate an amount for the year in October and they deduct it from his paycheck. 6. Is there a list somewhere that shows what can be paid for with this money? Yes, we have to print and mail in our claims and they deposit the amount in our account if it is covered. (They are picky about proof of things that are covered...paperwork.) We're starting to research it for next year. Dh's employer doesn't offer one, so we'll be doing this on our own. (They just cut our medical benefits significantly and we hope to make some of it up through an HSA.) Our health insurance recommends Wells Fargo. Would it be smart just to go through them? Problem is, there's a monthly fee. I really don't like paying monthly fees on a savings account! Any advice would be appreciated! We have one in braces and the save a good amount with the pre-tax money. Quote Link to comment Share on other sites More sharing options...
Erica in OR Posted December 13, 2009 Share Posted December 13, 2009 1. If you have one, what bank is it through? 2. Is it through your employer? 3. If not through an employer, where do you go? 4. Is there a monthly fee? 5. Do you make direct contributions yourself or is it all done through your employer, or both? 6. Is there a list somewhere that shows what can be paid for with this money? We're starting to research it for next year. Dh's employer doesn't offer one, so we'll be doing this on our own. (They just cut our medical benefits significantly and we hope to make some of it up through an HSA.) Our health insurance recommends Wells Fargo. Would it be smart just to go through them? Problem is, there's a monthly fee. I really don't like paying monthly fees on a savings account! Any advice would be appreciated! 1. Our account is through Town Bank, which has a couple branches in Wisconsin. We chose it because it doesn't have monthly fees, and not because it was close to us geographically or had branches all over the U.S. In all the years we've had it, all business has been done through email/phone/fax. I have never had to set foot in one of the bank's branches. We use the Visa/debit type card to pay for accepted expenses. 2. No. 3. Employer provides a lump sum to take care of health insurance costs. We designated an amount from this for the employer to make monthly contributions for us to the bank directly. 4. No monthly fee. 5. We've done it all three different ways, depending on the employer/salary situation. 6. There may be an IRS publication (can search for on irs.gov, and get it as pdf copy). Erica in OR Quote Link to comment Share on other sites More sharing options...
Mommyof4ks Posted December 13, 2009 Share Posted December 13, 2009 1. If you have one, what bank is it through?Bancorp 2. Is it through your employer? No, they don't offer one through dh's employer. 3. If not through an employer, where do you go? I went to their website and signed up. You can call around to banks and credit unions in your area also to see if they offer one. Another place to look is http://www.hsafinder.com 4. Is there a monthly fee? Yes and no. There is a $2 monthly fee, but it is waived for direct deposits which we have set up through dh's employer. 5. Do you make direct contributions yourself or is it all done through your employer, or both? We have it set up through DH's employer to DD X dollars a pay period, but we can change that amount any time and contribute extra on our own up to the max of like 6100 or something next year. 6. Is there a list somewhere that shows what can be paid for with this money? Yes, the HSA that you pick will have a list on their site. We're starting to research it for next year. Dh's employer doesn't offer one, so we'll be doing this on our own. (They just cut our medical benefits significantly and we hope to make some of it up through an HSA.) Our health insurance recommends Wells Fargo. Would it be smart just to go through them? Problem is, there's a monthly fee. I really don't like paying monthly fees on a savings account! Any advice would be appreciated! HTH Quote Link to comment Share on other sites More sharing options...
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