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HSA Account & 401 K


MVP444300
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I have looked at the investment options in my employer's HSA & 401 K plans.  The investments  offered are limited to a handful of mutual funds that have high fees/high turn over. 

 

Do I have the option of moving from the employer selected administrator to another one where I can invest my own funds in individual stocks, bonds, etc like I do in an IRA?    I am not getting any answers from my employer's HR or administrator's CSR department. 

 

Thanks

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I think typically the 401k has to be at your employer and can only be rolled into a different plan/IRA if you depart the company, but might be wrong.

 

You can absolutely have a separate HSA from the one offered through your employer and should be able to transfer funds from your employer's account into your own HSA at any time.

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One factor in favor of using the employer-sponsored hsa might be that contributions withheld from your paycheck are exempt from employment tax withholding.  I think many people fund their employer HSA accounts and then roll  over/transfer the balances at regular intervals if the fees are offensive.

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Thank you all for the comments.  My employer does contribute a certain amount to what I put in so I will keep the account and transfer money over as it deposited in from my paycheck and what my employer matches.

 

I am planning to contact Fidelity as I already have an account with them.

 

So just to confirm, I can't move 401K over to self managed account?

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Thank you all for the comments.  My employer does contribute a certain amount to what I put in so I will keep the account and transfer money over as it deposited in from my paycheck and what my employer matches.

 

I am planning to contact Fidelity as I already have an account with them.

 

So just to confirm, I can't move 401K over to self managed account?

 

bogleheads is usually a good source for this, typically you can't but consult the Summary Plan Description. In theory, you could do a rollover to an IRA but you'd basically be unable to contribute to the 401k going forward.

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