Wednesday, December 18, 2013

HSA Update for 2014

This is from Ann Carrns at the New York Times, hat tip to Dr. John Goodman:
... There are now about nine million H.S.A.’s with total assets of more than $18 billion; the average account balance is about $2,000, but accounts with funds in investment options, rather than just F.D.I.C.-insured accounts, average about $10,000, according to Devenir, which is based in Minneapolis and provides investment plans for H.S.A.’s. For 2014, you can contribute as much as $3,300 as an individual and $6,550 for families. ...

[A] new website, www.hsasearch.com ... lists 31 providers, along with information on fees, interest rates, minimum balance requirements and availability of investment options; it’s expected to cover about 50 accounts by the end of the year, said Eric Remjeske, Devenir’s president. The site provides links to the providers’ websites and includes some ratings from a pool of “several hundred” early users who were asked to comment on their experience....