I have a health savings account with a high-deductible health plan. Because my employer pays less for the plan than for other insurance options, they are willing to contribute money to my HSA account every pay period. I don't get as impressive of a health plan, but I'm a young twenty-something male nonsmoker in decent health and I don't really need it, so, yay free money.
I'm presently low on tax shelters. My current employer does not offer a 401(k) yet, so I'm putting money in an IRA, and I've contributed as much as I can already. I can also put money into the HSA from my paycheck and use it as a tax shelter! However...
My current HSA provider is Comerica Bank. They treat my HSA like a savings account: they guarantee the funds but pay savings-account-style interest rates (i.e. barely anything in this interest rate environment). I have a high risk tolerance, and I would prefer to earn better returns; I don't want to put lots of extra money into an account like that if it's going to be stuck earning savings-account interest until I'm retired (~40+ years) or spend it on medical expenses.
Questions:
- Is it possible to roll over a HSA to a new HSA provider?
- What are the rules governing these rollovers? Would I need to wait to change employers before I could roll over the account, or just until I changed health plans?
- Are there any rollover HSA providers where I can invest money in good cheap index funds?
- Are there any rollover HSA providers where I can invest money in arbitrary stocks and ETFs?
