■ What if I don’t like the H.S.A. my employer offers?
If you’re unhappy with the account your employer offers — you want more investment options, for example — you could set up another H.S.A. and transfer funds from your employer-based account once or twice a year, consultants say. But make sure you are still meeting minimum balances and other requirements of your employer account, so you don’t end up paying extra.
■ Can I leave some of my H.S.A. funds in a cash account and invest part of my balance?
Yes. That approach may be best for people who expect to use at least some of their money for near-term health costs. Generally, you’ll need to meet a minimum balance requirement in your deposit account to become eligible for investing; if you need to tap funds in your investment account, you’ll need to transfer funds back to your deposit account to pay bills.
■ Do health plans offered through the new public health exchanges offer H.S.A.’s?
About 20 percent of plans on the exchanges are H.S.A.-qualified, according to a recent analysis from HSA Consulting, but availability varies widely. It’s not always clear on the exchanges which plans are H.S.A.-eligible, and it’s unlikely you’ll automatically be directed to a site to sign up for one. You should ask your health plan what H.S.A. it might offer, and be sure to look around to see what might be available elsewhere.
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