Best Health Savings Account (HSA) Providers of 2026

Health Savings Accounts (or HSAs) offer more than just tax benefits for medical expenses. You can also invest any idle cash in various investments for a potentially higher return.

For 2026, HSA contribution limits for family HSAs are $8,750, while they are $4,400 for individuals. And don’t forget, you can still make your contribution until the tax deadline of April 15 next year. HSA savings are usually insured by the Federal Deposit Insurance Corporation (FDIC). However, investments generally are not. Check this with the HSA plan you’re considering.

You’ll also need to have a high-deductible health plan to qualify for an HSA. There can be other restrictions but your HSA provider can help with eligibility details.

Note that most employers will cover the monthly HSA fee. But if you choose a different HSA than the one offered by your employer health plan, you’ll likely need to cover any monthly fees. Or, if you’ve left your employer and are looking for a good option to transfer your HSA as well – check out this list.

Keep in mind that most HSA plans do not allow you to participate in multiple HSA plans.

In this article, we’ll provide a summary of several attractive HSA plans that also offer investment options. Remember, we love using our HSA as an IRA — and we think you should, too. Check out these companies to learn the best places to invest your HSA funds.

1. Fidelity HSA®

The Fidelity HSA® (Health Savings Account) is a brokerage account that gives you the flexibility to use your health savings dollars.

The account has no monthly fees and no minimum balance required to open the account.

Fidelity offers a wide range of investments, including stocks, bonds, mutual funds and ETFs, all commission-free¹. You can also invest in fractional shares.

You can easily add money to your health savings account by transferring from a bank account, or depositing a check via mobile phone. And if you’re looking to use your HSA for eligible expenses, you can use the Fidelity HSA debit card or Fidelity BillPay.

Read our full Fidelity review here.

Open an account here >>

vitality Offers an FDIC-insured HSA account with the following features:

• Free health savings account for individuals. No hidden fees.
• FDIC insured.
• 100% paper.
• Invest for free (with our special promotion)

The drawback to Lively versus Fidelity is that if you want to invest, you have to maintain an account at Charles Schwab in addition to an account at Lively. It’s not terrible, but it’s an extra step. Also, while you can invest 100% of your balance, if you don’t maintain a minimum of $3,000 in cash at Lively, you’ll pay a $24 annual fee to Lively.

Promotion: College Investor readers can receive a permanent waiver of the $24 annual fee when they sign up through our site. Register here >>

If you are an individual, so is vitality free For their primary HSA.

With access to Charles Schwab, the number of investments and asset classes available to you will be fairly broad. These include individual stocks, bonds, CDs, ETFs, and more than 13,000 mutual funds. You also have access to $0 commissions for online stocks, ETFs, and options trades at Schwab.

However, if you use commission-free ETFs with low expense ratios, this is an excellent choice. Read our full Lively HSA review here.

Open an account with Lively >>

HSA Bank It has many features in common with modern HSAs such as online access and a mobile app. Medical expenses can be paid from your HSA account using a check, debit card, or bill payment system.

HSA Bank offers investment options through its own partnership called HSA Invest. You can Read more about that here.

HSA Bank no longer charges any monthly maintenance fees for its individual HSA accounts. There is an annual investment fee depending on your account balance, ranging from 0.10% to 0.35% of assets under management.

The HSA Invest annual fee is waived for any quarter when your average HSA cash balance for that quarter is $7,500 or more.

To invest, you can start investing once you have at least $1,000 in your HSA cash account. Only HSA funds over $1,000 in your HSA bank cash account can be transferred to your investment account.

Read our full HSA bank review here.

Optum Bank is part of Optum, the technology services division, part of UnitedHealth Group. If you work for a large corporation, this will likely be your default HSA for your company health care plan. Their monthly fee is $2.75 per month (usually covered by your employer). There is no minimum balance to get started. Features of this plan include debit card, checks, online banking, and mobile app.

Optum Bank is a member of the FDIC, currently serving more than three million accounts and $9 billion in assets under management.

There are a large number of investment options available with Optum Bank. You’ll first need to meet the $2,000 investment limit. Once you do this, you can rebalance your portfolio and easily move money back and forth between investments and your main account. To see the current list of investment options, Check here.

The problem with investing in Optum is that you have to use their platform and their money options. They’re okay, but they’re not usually the best. You also don’t have the flexibility of being able to invest on a platform like TD Ameritrade.

However, if you leave your employer, you’ll start seeing your monthly fees deducted from your account — and Optum isn’t the cheapest option.

Read our full Optum Bank review here.

Other HSA providers

There are many other HSA providers available, but not all of them make our list of the best for one reason or another. Many of these are smaller providers, may not offer robust investment options, or charge higher fees than the providers listed above.

Some other things to consider include:

Schwab HSA

Charles Schwab finally announced that it is offering an HSA brokerage account. However, you can’t open this as a standalone product yet (as is the case with Fidelity). You have to open this account with a qualified HSA provider — which is what happens now vitality Offers.

Learn more at Schwab right here.

ira financial

IRA Financial offers a self-directed HSA product that can help you invest your HSA in alternative assets. If you have a larger HSA balance, and want to invest in things like cryptocurrencies or real estate, IRA Financial has an option to make that happen.

Learn more about IRA Financial here.

Health Savings Managers

Health Savings Administrators is one HSA provider that offers a solid choice of investments, including Vanguard funds, but they charge higher fees than others on this list. They currently charge $45 per year in management fees, plus 6.25 basis points per quarter (i.e. $0.625 per $1,000 per quarter). This is relatively expensive compared to other providers.

Payment Health savings officials here.

health

HealthEquity is an HSA provider that also offers a robust selection of investment options, including Vanguard mutual funds. They allow both individuals and employers to open an HSA. They currently charge a $3.95 per month administration fee, however, they will waive the fee if a certain balance is met ($2,500 cash balance).

Payment Health justice here.

Financial elements

Elements Financial is very close to making it to the top of the list, but it’s relatively unknown at this point. They have a free HSA option if you maintain a minimum account balance of at least $2,500, otherwise it’s $4 per month. There’s also the option to invest in your HSA through Drive Wealth.

Payment Financial elements.

Saturn HSA

Saturna is a name that comes up quite a bit when talking about HSAs since they have a unique fee structure that can work in some people’s favor compared to the options on the list above.

They have no-fee HSA access, and offer commission-free investing with their affiliated funds, but charge a 0.30% asset-based fee for non-Saturna funds. For most people, this may be more expensive than the other options on this list.

Payment Saturn is here.

Vanguard HSA

Surprisingly, Vanguard does not offer an HSA. That’s why you don’t see the Vanguard HSA option anywhere.

Compare all HSA options here

Check out all HSA administrators and plans here. Compare your HSA administrator options.

This guide is for anyone looking to open a health savings account outside of your employer’s offerings (if you have an HSA offered through your employer). Self-employed individuals may want to open an HSA directly.

As you can see, most HSA providers offer similar services, making it difficult to choose any particular service. One way to narrow down your choice is to check the HSA offered with your employer’s health plan. It is likely to meet your investment needs.

If you are no longer with your employer and are looking to transfer your HSA, look at free HSA providers such as Sinceritywho also offer investment options.

Among the shortlist above, you’re sure to find an HSA provider that can tick all the boxes you’re looking for.

Banks vs. credit unions vs. investment companies

If you notice the list above, you’ll see a mix of banks, credit unions, and investment companies that all offer HSA accounts. As HSAs become popular tools for use in health care, savings, and investing, more banks are interested in this area.

Our recommendation is to use your HSA as an IRA. As such, we recommend that you open your HSA at an investment company that offers solid investment options. That’s why the top of our list includes companies that offer a great HSA product with solid investment options.

If you open your HSA at some of the banks or credit unions listed, you’ll notice that they typically have limited investment options (if any), and those that offer them charge a potentially large amount for the ability to invest.

Why should you trust us?

I’ve been writing and reviewing health savings accounts (and related tax and contribution options for HSA plans) since 2014.

You’ve reported on health savings accounts, using your HSA as an IRA, and more. For this guide alone, over the years I’ve spent over 100 hours cumulatively researching and testing different HSA providers.

methodology

College Investor is dedicated to helping you make informed decisions on complex financial topics like finding the best health savings account. We do this by providing unbiased reviews of the best health savings account providers to our readers, then compiling those picks into this list.

We chose HSA providers based on our opinions on how easy they are to use, their costs and fees, any interest rates and rewards offered, and a variety of other factors. We believe our list accurately reflects the best health savings accounts on the market for consumers.