Should I transfer my HSA to a cheaper provider?

My HSA provider charges a 0.0166% monthly fee on my total invested balance. Is this ridiculous? At the moment that comes to about $.60 a month which feels like paying too much for nothing. Should I close the HSA and move to Fidelity who told me on the phone they have no such charges?

Are you still contributing to this plan?

If so, for simplicity I’d leave it there. $7/year isn’t going to make or break anything and simpler than having HSAs in multiple places

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I would move it over to Fidelity HSA. They have zero fees. My old HSA was sitting at Optum Bank and they were charging me $3 / month maintenance fee which I forgot about since I got hired w/ a new Company. Also, Optum bank required $2000 minimum, anything after I could invest the rest. Fidelity will do the electronic transfer for you. Takes about 2 weeks or so - you can track easily online. Don’t forget to ask Fidelity to reimburse you any fees to transfer. Good luck. I invested in the FZROX and it’s been doing well.


Thanks for the advice on fee reimbursement!