The Patriot Act is Blocking Activation of my HSA Account
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The Patriot Act is Blocking Activation of my HSA Account

By NuttBoxer following x   2018 Jan 9, 4:31pm 228 views   12 comments   watch   sfw   quote     share    


Our company switched healthcare plans, so I'm on a new HSA account. I was more than a little bit surprised when I received an email from my new HSA that they were unable to activate my account due to provisions in the Patriot Act, and needed more documentation to identify me. Does anyone remember when the Patriot Act was introduced as a tool to fight terrorism? So what the fuck does that have to do with my healthcare!? Starting to think those FEMA camps aren't so far fetched after all...

(text from email)
Anyone who enrolls in a HSA must first go through a Customer Identification Program (CIP). The CIP is part of the USA PATRIOT Act. Under Section 326 of the USA PATRIOT Act, we need to verify information about you before we can open an HSA. We must verify your name, home address, date of birth, and Social Security number.

1   HEYYOU   ignore (6)   2018 Jan 9, 8:56pm   ↑ like (2)   ↓ dislike (1)     quote      

Call Trump & he will eliminate Bush/Republican's privacy invading,FREEDOM taking Patriot Act,immediately.
MAGA!
2   FortWayne   ignore (0)   2018 Jan 10, 12:07pm   ↑ like (3)   ↓ dislike (0)     quote      

We finally cut off al queda from employee sponsored healthcare benefits!!!

Stupid government, this is what affirmative action brings... unqualified people making dumb decisions.
3   mell   ignore (1)   2018 Jan 10, 12:09pm   ↑ like (3)   ↓ dislike (0)     quote      

FortWayne says
We finally cut off al quesadilla from employee sponsored healthcare benefits!!!

Stupid government, this is what affirmative action brings... unqualified people making dumb decisions.


Yeah, but HSAs are a great investment vehicle and should be maxed out when available.
4   Booger   ignore (0)   2018 Jan 11, 3:06pm   ↑ like (0)   ↓ dislike (0)     quote      

You could try reminding them that it's an account transfer not initiated by you. That and read the act to see if this is true.

Also, how do you know that this is not a scam?
5   Satoshi_Nakamoto   ignore (0)   2018 Jan 11, 3:51pm   ↑ like (1)   ↓ dislike (0)     quote      

HSA is an investment account first and foremost. So it kinda makes sense to know who's behind one. Even fucking crypto-exchanges are now asking for CIP verification.
6   NuttBoxer   ignore (2)   2018 Jan 16, 2:15pm   ↑ like (0)   ↓ dislike (0)     quote      

Booger says
You could try reminding them that it's an account transfer not initiated by you. That and read the act to see if this is true.

Also, how do you know that this is not a scam?


They wanted me to fax or mail the documentation, fax or mail. I ended up just attaching an SDGE bill. Did read the act, it is about documenting people opening financial accounts as they stated.
7   NuttBoxer   ignore (2)   2018 Jan 16, 2:17pm   ↑ like (0)   ↓ dislike (0)     quote      

Satoshi_Nakamoto says
HSA is an investment account first and foremost


The money is stipulated for healthcare expenses only, if that's an investment, it's a shitty one. I contribute exactly zero dollars to mine, just using it because it's the only free healthcare plan at my work, and my employer put's a grand in every year.
8   errc   ignore (2)   2018 Jan 16, 3:53pm   ↑ like (0)   ↓ dislike (0)     quote      

NuttBoxer says
Satoshi_Nakamoto says
HSA is an investment account first and foremost


The money is stipulated for healthcare expenses only, if that's an investment, it's a shitty one. I contribute exactly zero dollars to mine, just using it because it's the only free healthcare plan at my work, and my employer put's a grand in every year.


At years end you can settle your balance in your HSA and roll it into the stock market for bigtime gainz
9   Malcolm   ignore (1)   2018 Jan 16, 4:05pm   ↑ like (1)   ↓ dislike (0)     quote      

I remember having a similar issue in 2006 when I wanted to set up an HSA. It is sad that people are still having this stupid problem. My frustration with the HR department not taking it seriously was actually a small part of me leaving that job.
10   Satoshi_Nakamoto   ignore (0)   2018 Jan 16, 4:09pm   ↑ like (0)   ↓ dislike (0)     quote      

NuttBoxer says
Satoshi_Nakamoto says
HSA is an investment account first and foremost


The money is stipulated for healthcare expenses only, if that's an investment, it's a shitty one.


It's allowed to be invested and grow tax-free instead of just sitting there and earning 0.01%. But hey, it's your funeral, do as you like with your money.
11   NuttBoxer   ignore (2)   2018 Jan 17, 9:42am   ↑ like (0)   ↓ dislike (0)     quote      

errc says
roll it into the stock market for bigtime gainz


If I want to gamble, I'll take it to Vegas. At least that way I'll have some fun before I lose it all.
12   NuttBoxer   ignore (2)   2018 Jan 17, 9:44am   ↑ like (0)   ↓ dislike (0)     quote      

Satoshi_Nakamoto says
It's allowed to be invested and grow tax-free


Was not aware of that. If I ever don't spend it all on healthcare, will definitely look into moving it.

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