Hi all. I recently changed careers, and my old employer used a niche benefits administrator for my Health Savings Account. I have a decent chunk of money tied up in mutual funds there. Should I initiate a trustee-to-trustee transfer to my new retail HSA, or just leave it alone? I'm worried about sneaky closure fees.

If the monthly maintenance fees aren't eating into your balance, you can just leave it there. I kept my old account active for three years just to pay for my son's braces. Once the balance was completely depleted from those orthodontic payments, I simply closed the account online.

It really depends on the specific administrator your former employer used, as fee structures vary wildly in this sector. When I left my corporate job to go freelance, my health funds were tied up with a similar third-party management platform. I ended up requesting a paper rollover check because the electronic transfer options were somewhat complicated.