Personal Investments • HSA Investments and Consolidation

I have recently taken over my father's finances and I need some help navigating the world of HSAs

He currently has 2 HSAs

Both of them also have Investment accounts associated with them:

Optum Bank Mutual Funds - $3200 (invested in VSCIX - 25% increase over the last year)
Health Equity - $30,000 (invested in FKALX which no longer accepts new investments - 22% increase over the last year)

While I don't know that it's necessary, just to help keep tabs on things, I'm considering consolidating the HSAs but I have a few questions:

He's retired and on Medicare for insurance - he's been using the Optum account, but as far as I can tell, it doesn't matter which one he uses. Is that correct?
If I want to rollover funds and close out one of the HSAs, my understanding is I'd first have to sell off the investments in the associated investment account. If I do so, what (if any) tax implications would we run into by liquidating the investments?
Based on the rather limited information I've provided, any advice on which of the two would be better to keep? They both have similar monthly maintenance and investment fees.

I'm happy to provide any additional information I can to help inform advice. Thanks in advance!

Statistics: Posted by hulkdad — Tue Sep 24, 2024 5:06 pm — Replies 1 — Views 47