Every major feature that matters for self-employed Americans. Updated for 2026 contribution limits.
| Feature | Fidelity HSA | Lively HSA | HealthEquity | HSA Bank |
|---|---|---|---|---|
| Our Rating | 9.8/10 | 9.4 / 10 | 8.9 / 10 | 8.7 / 10 |
| Monthly Fee | $0 | $0 | $2.50 | $0 |
| Fee Waived At | Always free | Always free | $2,500 balance | $5,000+ |
| Invest Minimum | $1 | $0 (Charles Schwab) | $500 min | Balance threshold |
| Investment Options | Stocks, ETFs, mutual funds ($0 commissions) | Charles Schwab brokerage | 33 Vanguard funds + brokerage option | HSA Invest: Choice (brokerage), Select (funds), Managed |
| Mobile App | ✓ Excellent | ✓ Best-in-class | ✓ Good | ✓ Good |
| Best For | Overall Best | Freelancers | Employers | Large Balances |
We opened and tested each account. Here's what we found.
Fidelity's HSA beats every competitor on every key metric: zero account fees, $0 commissions on US stocks and ETFs, no minimum to invest, and a 3.37% 7-day yield on uninvested cash (as of September 2026) — far above competitors. Morningstar's #1 rated HSA for investing 7 years in a row (2019–2025). Also offers Fidelity Go® HSA — a managed option with $0 fee under $25,000.
Lively was built specifically for the self-employed experience. The onboarding is fully online with no paperwork, and the dashboard is purpose-built for HSA management. Two invest options: Schwab Health Savings Brokerage Account (self-directed) or HSA Guided Portfolio by Devenir (managed, 0.50%/yr). Zero account fees puts it in the top tier.
HealthEquity is the largest HSA provider in the US with 9.9M+ members. Invest via 33 low-cost Vanguard mutual funds (index + target date funds), managed by HealthEquity Advisors, LLC. Also offers a separate Charles Schwab brokerage window. Monthly fee structure varies by plan — $2.50/month is common for employer plans.
HSA Bank has been a dedicated HSA provider since 2004, now a division of Webster Bank (FDIC). Invest via HSA Invest — Choice (brokerage, 0.10%/yr), Select (curated funds, 0.25%/yr) or Managed (RIA-run, 0.35%/yr). Invest fees waived when cash balance ≥ $7,500. The $0/month account fee makes it best suited for higher balances.
We opened real accounts and tested each one. Here's how we weight our scores.
Monthly fees, investment fees, transaction fees. Zero fee custodians score highest.
Fund selection, minimum thresholds, expense ratios, and brokerage access.
Mobile app quality, account opening speed, receipt tracking, and support.
FDIC insurance, institution stability, and HSA-specific experience.