Best Health Savings Account Providers (HSAs) of 2025

• Account Management Fee: None, in most cases
• Rollover Fee: None
• Minimum to Invest: $0

We named Fidelity the best overall health savings account provider because it excels at almost every feature that’s important for an HSA.

Best for Low Fees

Fidelity doesn’t charge many of the fees other HSA providers charge, including those for monthly maintenance, account rollovers, excess contribution returns, card replacements, or paper statements. 

The only fees you might pay are: 

• Underlying management fees for funds you choose
• Fees associated with options 
• Fees your employer passes on to you
• Fees for a Fidelity Go HSA, a managed account 

Even the Fidelity Go HSA only charges a fee (0.35%) once your HSA account balance reaches $25,000 or more. 

Best for Investment Options

You have more investment options with a Fidelity HSA than any other provider, Investopedia found. Choices include a wide range of stocks (including fractional shares), bonds, mutual funds, and exchange-traded funds (ETFs). Fidelity also has index funds with no expense ratio. In all, there are more than 10,000 investments to choose from. 

There are even two funds designed specifically for HSA investing: the Fidelity Health Savings Fund—a mix of actively managed and index funds—and the Fidelity Health Savings Index Fund. However, these both come with management fees. 

Best for No Minimum Balance Required

Most HSAs require you to have a minimum amount of money in your account before you can start investing. It’s typically $500 or $1,000 but can go as high as $2,000. You can only invest amounts above that minimum; the rest of it just sits in your account. Some providers, such as Lively, waive balance requirements if you pay a fee. 

Fidelity requires no minimum balance to start investing, and there’s no fee for the self-directed HSA. That means you can start investing as soon as you have any money in your account.

If you want Fidelity to manage your HSA funds, there is a very low $10 minimum deposit required for the Fidelity Go HSA. 

Best Spending Account

If there is uninvested money in your HSA account, you will usually earn some kind of interest on it. Fidelity offers a far higher interest rate than any of its HSA competitors. While it’s not competitive with top high-yield savings accounts, it allows your cash to earn more than you could with any other HSA account provider or any standard savings account.

In addition to its high interest rates, Fidelity’s HSA offers other benefits, making it an excellent spending account. You’ll get an HSA debit card, which is standard for most HSAs. You can also pay medical bills directly with Fidelity Bill Pay or reimburse yourself for expenses you’ve covered.

In addition to all of the superlatives Fidelity has earned from the Investopedia team, we also gave the company points for having a lot of ways to contact customer service: through a 24/7 phone line, live chat, a virtual assistant, and multiple social media accounts.  

It also has the highest number of ways to access your funds, including via ATM and checkbook as well as a debit card and online bill pay.

Fidelity tops Investopedia’s list of the best online brokerage firms because of its low fees, wide variety of investment options, and powerful trading platform. Founded in 1946 in Boston, the company now serves more than 44 million individual investors, with $15.1 trillion in assets under administration as of March 2025. 

Fidelity claims it was the first in the industry to introduce zero-expense-ratio funds for individual investors, including HSA investors. As of 2024, Fidelity had $24 billion in total HSA assets. 

• Annual Account Management Fee: $24 
• Rollover Fee: $0 
• Minimum to Invest: $0 

Lively is a good alternative to Fidelity if you prefer to work with an HSA specialist rather than a large brokerage. Its self-guided Schwab Health Savings Brokerage Account, which has a wide selection of investments to choose from, requires no minimum balance to invest if you pay a $24 annual fee. To skip the fee, you’ll need to have at least $3,000 in your account. 

The Schwab account has a large range of investment options. They include more than 8,500 mutual funds, stocks, bonds, and exchange-traded funds (ETFs). There’s also a managed account with a 0.50% fee.

Lively gives you two investment options. In addition to the self-guided Schwab plan, there’s an HSA Guided Portfolio from Devenir, a robo-advisor platform that helps you allocate assets and rebalance your portfolio automatically. There’s no minimum balance to invest, but the annual fee is 0.50% of invested assets, which is high compared to the 0.35% charged by Fidelity’s managed account. 

We like that Lively doesn’t charge rollover, account closure, or excess contribution fees. It also includes an opt-in tool called Expense Scout that can scan your external accounts for eligible HSA purchases. 

But the interest rate on the spending account is next to nothing. It’s the lowest rate of any provider Investopedia researched. And you won’t be able to access your funds through an ATM or checks. It can take up to four days to receive a direct deposit of reimbursements, which is a little longer than what many competitors offer.

Customer support is available Monday through Friday from 9 a.m. to 9 p.m. Central Time, and you can email or call for help, but there is no live chat.

Lively was founded in 2016 and is based in San Francisco.

Note

All three investing options come with a 0.03% investment administration fee, up to $10 a month. AutoPilot and GPS also charge monthly investment advisory fees of 0.05%, with a $15 monthly max.

Pros

• Multiple robo-advisor options

• No monthly administration fee

• Access to low-cost Vanguard funds

• Relatively high interest rate for spending account

Cons

• Investment administration fees of up to $10 a month 

• $25 account rollover fee and $20 excess contribution refund fee

• $500 minimum balance to invest

• Relatively few investments to choose from (33 funds)

• No ATM withdrawals or checks