We use my wife's employer's health plan.
Her employer has changed HSA custodians 4X in 7 years (Further > Health Equity > Wex > Voya). The transition from Wex to Voya took place at the start of this calendar year.
We have made 2 attempts to roll the old HSA funds (~$40K) from Wex to Voya. It's a painful process - faxing forms and terrible customer service. We sent in forms and months later called only for them to tell us they were filled out incorrectly. We tried again but have gotten no response months later. To date, no money has left Wex - they clearly have no incentive to help see through this transaction and Voya has been equally unhelpful.
I am debating moving the Wex (old HSA) funds to a Fidelity HSA instead of making my 3rd attempt at the Wex to Voya transfer.
Are there advantages to one move over the other? Rolling the funds into the newest employer-sponsored custodian versus moving them to Fidelity (where we hold all investment assets)? I'm optimistic the move to Fidelity will yield better customer service and marginally lower expense ratios.
Thanks,
Her employer has changed HSA custodians 4X in 7 years (Further > Health Equity > Wex > Voya). The transition from Wex to Voya took place at the start of this calendar year.
We have made 2 attempts to roll the old HSA funds (~$40K) from Wex to Voya. It's a painful process - faxing forms and terrible customer service. We sent in forms and months later called only for them to tell us they were filled out incorrectly. We tried again but have gotten no response months later. To date, no money has left Wex - they clearly have no incentive to help see through this transaction and Voya has been equally unhelpful.
I am debating moving the Wex (old HSA) funds to a Fidelity HSA instead of making my 3rd attempt at the Wex to Voya transfer.
Are there advantages to one move over the other? Rolling the funds into the newest employer-sponsored custodian versus moving them to Fidelity (where we hold all investment assets)? I'm optimistic the move to Fidelity will yield better customer service and marginally lower expense ratios.
Thanks,
Statistics: Posted by Sellery1031 — Fri Oct 04, 2024 8:33 pm — Replies 2 — Views 65