Tell me about HSAs and qHDHPs

[Athena]

@ZipperJJ

AFAIK, you ARE allowed to choose the bank that manages your HSA. It is completely separate from the insurance company.

But, from everything I’ve read I am almost positive that you can set up your account with any bank you choose, so long as they have an HSA product.

You can definitely choose the bank. I had the HD policy long before I had the HSA. When I got the HSA, it had nothing to do with the policy I had - I just had to shop around and find a good deal on the HSA from a bank.

[Really_Not_All_That_Bright]

I got a list of account fees and there are no service charges or minimum balances at the moment. I can switch banks but then I won’t get an employer contribution.

[Sateryn76]

@Nars_Glinley

:eek: I honestly didn’t know you could have that high of a deductible.

We have the same deductible. It’s not all that high if you no chronic conditions.

Say if we get into a car accident, and end up with $30K in medical bills (estimates):

1 - Tap out the HSA - $3000
2 - An AFLAC like plan that pays cash for accident related injuries and care - $3000
3 - A low-interest credit account specifically for medical care - $4000
4 - 100% percent coverage for the rest - $20,000

[Sateryn76]

@Athena

You can definitely choose the bank. I had the HD policy long before I had the HSA. When I got the HSA, it had nothing to do with the policy I had - I just had to shop around and find a good deal on the HSA from a bank.

I concur - we did our setup completely independently of any employer, so we just opened an account with our bank that has our regular checking/savings and mortgage loan.