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Author Topic: Adirondack 5% HSA  (Read 2887 times)

Offline Dan

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Adirondack 5% HSA
« on: October 11, 2010, 02:32:30 PM »
http://www.adirondacktrust.com/index.php?section=115

I'm going to switch to them to earn 5% for my HSA.
Anyone have them? Has anyone tried funding with a credit card?
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Offline AsherO

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Re: Adirondack 5% HSA
« Reply #1 on: October 11, 2010, 02:43:11 PM »
Quote from: Dan on October 11, 2010, 02:32:30 PM
http://www.adirondacktrust.com/index.php?section=115

I'm going to switch to them to earn 5% for my HSA.
Anyone have them? Has anyone tried funding with a credit card?

Does that mean you have an HDHP?
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Offline Dan

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Re: Adirondack 5% HSA
« Reply #2 on: October 11, 2010, 02:50:06 PM »
Quote from: AsherO on October 11, 2010, 02:43:11 PM
Does that mean you have an HDHP?
Yes, 3K deductible per person for full coverage with pregnancy with free checkups and free preventative exams and tests for $210/month for my wife and I.

I get to deduct the HDHP because I'm self-employed and any medical expenses via the HSA.
Earning 5% interest on the HSA is just gravy.
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Offline AsherO

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Re: Adirondack 5% HSA
« Reply #3 on: October 11, 2010, 02:52:02 PM »
Quote from: Dan on October 11, 2010, 02:50:06 PM
Yes, 3K deductible per person for full coverage with pregnancy with free checkups and free preventative exams and tests for $210/month for my wife and I.

I get to deduct the HDHP because I'm self-employed and any medical expenses via the HSA.
Earning 5% interest on the HSA is just gravy.

What ins. carrier is your HDHP with (if you don't mind me asking)?
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Offline Dan

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Re: Adirondack 5% HSA
« Reply #4 on: October 11, 2010, 03:08:50 PM »
Quote from: AsherO on October 11, 2010, 02:52:02 PM
What ins. carrier is your HDHP with (if you don't mind me asking)?
http://www.medmutual.com/
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Offline yudel

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Re: Adirondack 5% HSA
« Reply #5 on: October 11, 2010, 08:48:26 PM »
what's the minimum balance to avoid fees?
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Offline Dan

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Re: Adirondack 5% HSA
« Reply #6 on: October 11, 2010, 09:19:19 PM »
Quote from: yudel on October 11, 2010, 08:48:26 PM
what's the minimum balance to avoid fees?
Looks like none.
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Offline gozalim

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Re: Adirondack 5% HSA
« Reply #7 on: October 11, 2010, 09:50:15 PM »
are you able to 'distribute' for non-medical expenses at will? (so long as you aren't avoiding taxes)?
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Offline AsherO

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Re: Adirondack 5% HSA
« Reply #8 on: October 11, 2010, 11:18:56 PM »
Quote from: gozalim on October 11, 2010, 09:50:15 PM
are you able to 'distribute' for non-medical expenses at will? (so long as you aren't avoiding taxes)?

Legally there's a 10% penalty (besides for taxes) if you withdraw before 65 for anything other than medical expenses. You need to prove whatever expenses you have, and make sure they are covered (some expenses, like health insurance premiums, are not). After 65 you can withdraw freely, but any funds not used toward medical expenses are taxed (no penalty).
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Offline Dan

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Re: Adirondack 5% HSA
« Reply #9 on: October 22, 2010, 10:06:05 AM »
Quote from: Dan on October 11, 2010, 02:32:30 PM
http://www.adirondacktrust.com/index.php?section=115

I'm going to switch to them to earn 5% for my HSA.
Anyone have them? Has anyone tried funding with a credit card?
Took one for the team!  I opened the HSA online, funded $1,000 with my Chase CO PPMC and it posted as a purchase!!!
I did protect myself partially by having a negative $2,000 balance when I made the charge.
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Offline AsherO

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Re: Adirondack 5% HSA
« Reply #10 on: October 22, 2010, 01:08:29 PM »
Quote from: Dan on October 22, 2010, 10:06:05 AM
I did protect myself partially by having a negative $2,000 balance when I made the charge.

I thought you advise against pre-payment, or is that only on Amex?
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Offline Dan

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Re: Adirondack 5% HSA
« Reply #11 on: October 22, 2010, 01:22:06 PM »
Quote from: AsherO on October 22, 2010, 01:08:29 PM
I thought you advise against pre-payment, or is that only on Amex?
Only on AMEX can that cause issues AFAIK.
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