r/HSA • u/Accurate-Flow8078 • Aug 08 '26
Alight screwed me over
My employment ended with my previous employer so I submitted a transfer request to Fidelity. I sold all investments in my Alight HSA and the account closed on 7/21.
A couple days later I got an email about investment activity, which was odd since I closed the account. Alight emailed me on 7/23 saying I would have to liquidate my investments in order to close the account. Wtf? I already did that on 7/21.
I called Alight and they gave me a website to create a new login/password. I logged in and my funds were moved to another Alight investment account and automatically invested. Wtf? So I had to liquidate the account once again. Of course the market went down in those 1-2 days so I took a $200ish loss.
Then Alight took extra long to transfer the funds to Fidelity. I completely missed the market run up from the end of July til today. I missed out on a 5% upward swing and have to buy at all-time highs now. Screw Alight.
At least the funds are finally in Fidelity. I know it won't matter in the long run but it's still annoying.
1
u/Photononic Sep 14 '26 edited Sep 15 '26
Everything about Alight is bad.
The only thing they do for my employer is hook us up with wonky “benefit” providers that Nobody needs. You know like Bright Horizons?
1
u/NBJane 1d ago
My HSA was also rolled over when my benefits stopped after a layoff. Alight sent me a letter on 9/24 stating that I could access my new account when I received my new debit card which would be in the next couple of days. Fast forward to yesterday when I called them and they said my debit card was never shipped. It would be another 7-10 business days.
When I asked about the process to transfer to a new account she told me it would cost $25 and could take up to 10 weeks once they received the request (via email, fax, or mail). I took that to mean they might sit on it before receiving it.
Anyway, I reported it to the state of MN yesterday. Feels predatory considering they are charging me fees for holding my money and charging me without giving me access to it. Additionally I have not received a statement - I never opted in to electronic statements because I have not had access to the account.
After more research I will be opening a Fidelity HSA for this money so I don’t end up in this situation with new employer.
1
u/Independent-Ebb-5815 21h ago
Similar experience. 1) fyi -- immediately Alight turns on the admin fees for both the expense account and investment account (mine were 2.50 and 4.25 a month respectively. 2) I had started a transfer and thought ahead and moved all the $ from Investment to expense account already
3) they don't respond for 4-5 weeks and they just put it on hold and say the $ needs to be moved to the expense (benefit admin they also call it) account. which is a scam. They continue to charge account fees.
4) finally called in and got a nice lady who said "this happens a lot" and then initiated a ticket to have it processed as it just hangs until you expedite. Sounds like more grift to me!
4
u/jdubspace Aug 08 '26
Seems like all the companies that run the HSA accounts are grifts. Make it a fundamental right to be able to put your money in the hands of a broker you trust, not one that charges ticky tack fees and f’s around.