Best HSA Providers of 2026: 5 Health Savings Accounts Compared
The short answer: Fidelity is our top pick. A Fidelity HSA opened on your own has no account fees and no minimum, you can invest from the first dollar, and Morningstar’s 2026 study gave it the only High rating as a spending account.95 HSA Bank is the strongest for investing, after Morningstar rated its investment menu High for the first time in 2026.6
At a glance
| # | Service | Best for | Monthly fee | Cash needed before investing | Score /10 |
|---|---|---|---|---|---|
| 1 | Fidelity HSA | Most people | $09 | $09 | 9.4 |
| 2 | HSA Bank | Investors who want a highly rated fund menu | $011 | None, per Morningstar6 | 8.8 |
| 3 | HealthEquity | Low-cost Vanguard funds | $0 for individual accounts13 | $50014 | 8.5 |
| 4 | Lively | A simple fee-free account with Schwab investing | $016 | $3,000, or $24 a year to invest from $016 | 7.3 |
| 5 | Optum Bank | People whose employer already uses Optum | $2.75, waived at a $3,000 balance19 | $2,00019 | 5.8 |
A health savings account (HSA) is the most tax-efficient account in the U.S.: contributions go in before tax, growth is tax-free, and withdrawals for qualified medical expenses are tax-free too. You need a qualifying high-deductible health plan to contribute, and the account is yours for life, even if you change jobs or stop working.12
For 2026 you can contribute up to $4,400 with self-only coverage or $8,750 with family coverage, plus $1,000 more from age 55.3 From January 2026, bronze and catastrophic plans also count as HSA-compatible.4 You don’t have to keep your HSA where your employer opened it: you can move the money to a better provider at any time, and many people use the HSA as a long-term investment account by paying today’s medical bills from cash.
The 5 HSA providers, ranked
Fidelity HSA
Best for most people
9.4/10
No account fees, no minimum and no threshold before you can invest.9 Morningstar gave Fidelity the only High rating for spending accounts in its 2026 study, citing a 1.82% interest rate on cash at any balance.5
- Invest in stocks, bonds, mutual funds and ETFs yourself, or let Fidelity Go manage it, free under $25,000 and 0.35% a year above.109
Pros
- No fees and no investment threshold
- Best cash interest among the big providers
Cons
- Morningstar downgraded its investment menu to Average because many of its funds cost more than peers, so pick low-cost index funds yourself8
HSA Bank
Best for investors who want a highly rated fund menu
8.8/10
Morningstar gave HSA Bank’s investment account a High rating for the first time in 2026, citing strong options, low costs and the removal of its investment threshold.6 Individual accounts have no monthly fee and need no opening deposit.11
- Managed portfolios cost 0.10% to 0.35% a year, waived in any quarter your average cash balance is $7,500 or more.12
- Self-directed brokerage can carry a $3 monthly fee unless you keep $5,000 in cash.12
Pros
- Morningstar’s top-rated investment menu
- No monthly fee on individual accounts
Cons
- Investment fees unless you hold a large cash balance
HealthEquity
Best for low-cost Vanguard funds
8.5/10
One of the largest HSA providers and a common employer choice.7 Its investment lineup is built on Vanguard funds that are, on average, far cheaper than peers, earning an Above Average rating from Morningstar.5
- Self-Driven investing has no advisory fee; the guided options cost 0.05% a month, capped at $15. All options carry a 0.03% monthly administration fee capped at $10.14
Pros
- Cheap Vanguard index funds
- No monthly fee if you open it yourself
Cons
- Small monthly investment fees add up on large balances
- Employer-sponsored accounts can have different fees and thresholds15
Lively
Best for a simple fee-free account with Schwab investing
7.3/10
Free to open and keep, with no fees to open, close or transfer.16 Investing runs through a Charles Schwab brokerage account; a guided portfolio is also available for 0.50% a year.17
Pros
- No account fees at all
- Schwab brokerage for self-directed investing
Cons
- Cash earns very little: Morningstar found 0.03% on a $2,500 balance5
- The guided portfolio’s 0.50% fee is high
Optum Bank
Best for people whose employer already uses Optum
5.8/10
One of the biggest HSA providers through employers, and you can open one yourself.18 But its standard fee schedule charges a monthly fee on smaller balances and requires $2,000 in cash before you can invest.19
- Investments cost 0.03% a month, capped at $10, with no trading fees on its fund lineup.20
Pros
- No fee to open or transfer money in
Cons
- Monthly fee unless you keep $3,000 in cash
- Rated Below Average for spending accounts by Morningstar in 20268
How we ranked them
We rated each service from 1 (poor) to 5 (excellent) on 5 criteria, weighted by how much each matters for medical wealth. The score is the weighted average, scaled to 10. Ratings come from each company’s own published prices and features and from the independent reviews in the sources list, checked on October 3, 2026.
- Account fees (30%). Monthly maintenance fees and the balance needed to avoid them.
- Investing (30%). Fund choice and cost, investment fees, and how much cash you must keep before you can invest.
- Cash and spending (15%). Interest on uninvested cash and how easy the account is to spend from.
- Open it yourself (10%). Whether anyone with a qualifying plan can open an account directly, without an employer.
- Independent rating (15%). Morningstar’s 2026 Health Savings Account Landscape ratings for the provider’s spending and investment accounts.
| Service | Fees | Investing | Cash | Open | Rating | Score /10 |
|---|---|---|---|---|---|---|
| Fidelity HSA | 5 | 4 | 5 | 5 | 5 | 9.4 |
| HSA Bank | 5 | 4 | 3 | 5 | 5 | 8.8 |
| HealthEquity | 5 | 4 | 3 | 5 | 4 | 8.5 |
| Lively | 5 | 3 | 2 | 5 | 3 | 7.3 |
| Optum Bank | 3 | 3 | 2 | 5 | 2 | 5.8 |
Stuck with your employer’s HSA?
Keep contributing through payroll, because that usually also saves Social Security and Medicare taxes. Then move the balance to a better provider every so often. Transfers between HSAs aren’t taxed and don’t count against your yearly limit.1 Check whether your current provider charges a fee to transfer out.
How to choose
- Want the simplest strong default? Fidelity.
- Plan to invest most of the balance? HSA Bank or HealthEquity, or Fidelity with low-cost index funds.
- Spending most of it each year? Fidelity pays the best interest on cash.
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Common questions
What is the best HSA provider in 2026?
In our comparison, Fidelity ranks first because its HSA has no account fees, no minimum and no threshold before investing, and Morningstar's 2026 study gave it the only High rating as a spending account. HSA Bank ranks second and has Morningstar's top-rated investment menu.
What is the HSA contribution limit for 2026?
For 2026 you can contribute up to $4,400 with self-only high-deductible coverage or $8,750 with family coverage. People 55 and older can add a $1,000 catch-up contribution.
Can I open an HSA without my employer?
Yes. If you have a qualifying high-deductible health plan, you can open an HSA directly with providers such as Fidelity, HSA Bank, HealthEquity, Lively and Optum. You can also move money from an employer HSA to one you choose.
Should I invest my HSA?
If you can pay current medical costs from other savings, investing the HSA lets the money grow tax-free for decades, and withdrawals for qualified medical expenses stay tax-free. Keep enough in cash to cover your deductible if you would need it.
What happens to my HSA if I change jobs?
Nothing. An HSA belongs to you, not your employer, so it stays yours when you change jobs or stop working. You can keep it where it is or transfer it to another provider.
Sources
- About Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans — Internal Revenue Service
- What are Health Savings Account-eligible plans? — HealthCare.gov
- IRS Announces 2026 HSA and EBHRA Contribution Limits (Rev. Proc. 2025-19) — Thomson Reuters, 2025
- Treasury, IRS provide guidance on new tax benefits for health savings account participants — Internal Revenue Service
- The Best HSA Providers of 2026 — Morningstar, 2026
- Morningstar Publishes 2026 Health Savings Account Landscape — Morningstar, 2026
- 2025 Health Savings Account Landscape: Executive Summary — Morningstar, 2025
- HSA Providers Ranked on Health and Investment Benefits — 401(k) Specialist, 2026
- Health Savings Account: Investing your HSA your way — Fidelity Investments
- Health Savings Account — Fidelity Investments
- Why Open an HSA — HSA Bank
- HSA Investment Options — HSA Bank
- Get HSA Tax Benefits with HealthEquity — HealthEquity
- HSA Investment — HealthEquity
- What is the fee to administer my health savings account (HSA)? — HealthEquity
- Pricing — Lively
- HSA Investment Options — Lively
- Health Savings Accounts (HSAs) — Optum Bank
- Health Savings Account (HSA) Enrollment: Fee Schedule — Optum Bank
- Invest your HSA and grow your health savings with Optum Bank — Optum Bank
This guide is for informational and educational purposes only. It is not financial, medical, legal, or tax advice, and it is not a recommendation to buy any product. Prices and features change; confirm them with the provider before you sign up.
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