Trading with a Health Savings Account? Possible? Anyone do it?

Discussion in 'Retail Brokers' started by David Donner, Oct 19, 2020.

  1. Is it possible to open a trading account for a Health Savings Account? Does anyone do it? If so, what health insurance company & broker are you using?

    It would be great if that was possible.
  2. FSU


    Looks like you can through Fidelity.
  3. Hmmm? What if you get sick?
  4. fan27


    Just don't sick during a drawdown ;)
    Baron likes this.

  5. You withdraw the money & spend it tax free.
  6. Gtrade


    I do thru Fidelity.

  7. What insurance company do you use it with?

    Any tips or downsides you can offer with the Fidelity HSA?
  8. R1234


    I trade my HSA at Fidelity. Only problem is it can't qualify for 'Limited Margin' capability.
    So if you're actively trading stocks, you need to wait 2 days for cash to settle before making a new purchase. One interesting way to overcome this is by trading Rydex or Profunds mutual funds. You can trade those as much as you like as long as you stay within the same fund family and do end of day exchanges.

  9. What health insurance company do you use the Fidelity HSA with?
  10. R1234


    I currently have MVP healthcare as the insurance provider. You can use whoever you want that is available in your part of the country. Just make sure it is a HSA compatible plan (HDHP). I always make sure my plan is HSA compatible even if the premium is slightly more. I more than make up for it in tax benefits plus compounding within the HSA.
    #10     Oct 20, 2020