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Does Walmart’s HSA charge fees and have a minimum amount required to keep in cash before you can invest the money within the account? Are you able to front load it or does it have to be every contributed to throughout the year?#personalfinance #HSA
The health savings account can be added to as you like through the year. You can change contributions at any time. The match will only happen as you put money in though, so better to get that out of the way early. The investment/money market threshold is $1000, but if you're not putting that much in its probably not even worth it for most people.
Thank you so much! I’m starting soon and would plan to not touch money within my HSA and use it as another retirement account. I’m contemplating if I should contribute through Walmart’s payroll deductions up to the minimum amount to get the full match and then contribute the rest to my Fidelity HSA where there isn’t a minimum threshold to invest.
You don't need a different account. You should contribute at least 350 to the same fidelity HSA through payroll. Walmart will match it. And then contribute the remaining amount like you usually do.
Walmart offers a health equity account if you don't have one. You should be able to bring your own HSA account. All investment related answers depend on your HSA account provider I have a health equity account. Walmart matches the first 350 you put in. I divide the 350 equally throughout the year. You can contribute to the account whenever you want and claim deductions during tax filing. I contributed in January for the previous tax year.
Is it possible with ppo plan?
You cannot contribute unless you have a high deductible plan. I am not sure if there are high deductible ppo plans out there. You can withdraw past contribution even if you have low deductible plans in the future