Demian
My #healthsavingsaccount story dealing with #healthequity screwing me repeatedly with "admin fees":
A few months after leaving my prior employer, I noticed unexpected $3.95 admin fees starting to show up on my HSA, apparently as I was to learn because the balance had slipped below their $2.5K minimum that now applied because I was no longer on a corporate backed plan. No notice was given to me of the plan change, minimum balance reqt, or balance falling below this.
#MedicareForAll
1/n
Mar 14, 2025 at 4:11pmWeb
Show threadDemianMar 14, 2025
This a year ago and after a couple hours on the phone, I got the fees refunded and was told I was put on a plan that didn't have the fees. Then last month, I noticed the fees returned starting in Dec. After another couple hours on the phone with #healthequity supervisor, I again got the fees refunded and was again assured that I was on a plan that should no longer have the fees. But with my trust eroded, we planned to use up the balance and close the account.
#MedicareForAll 2/n
Show threadDemianMar 14, 2025
So my wife used up the balance on a medical expense. Then a couple days later when I went on the #healthequity website to close the account, I noticed another fee applied! After another couple hours yesterday on the phone with a supervisor, I again got the fee refunded and initiated the account closure. I hope this is the last of my troubles with them, tho of course I'll be checking that this get closed out as expected.
#MedicareForAll
3/n
Show threadDemianMar 14, 2025
The fee amounts were small and perhaps as a "rational economic actor", my time on the phone wasn't worth it. And, I don't really know for sure if this repeatedly returning fees was some bug/incompetence or a deliberate feature to extract rent from me (and possibly thousands/millions of their users) or some of both. One of the supposed benefits of HSA is you keep them if you lose your/change job. Imposing these fees really seems like taking advantage of those experiencing some hardship.
4/n
Show threadDemianMar 14, 2025
The experience really underscored what leeches/parasites so much of the health insurance industry is and the need for #MedicareForAllNOW