Best Hybrid HSA: Starship HSA

Starship HSA combines the benefits of a checking-style account with an investment brokerage account, giving users the flexibility to both spend and grow their health savings.

The checking-style account includes a free debit card and comes with no maintenance fees. Additionally, you can earn 0.04% APY on balances above $2,000. While the rate isn’t particularly high, it’s still a nice bonus for maintaining funds in your account.

The investment account is available for those who want to grow their savings further. It charges $1 per month for balances under $5,000 and 0.35% annually for balances above that threshold. Although slightly higher than some competitors, this fee can be worthwhile for those who invest strategically and maintain larger balances.

Key Features:

• No transaction or overdraft fees
• No hidden or minor charges
• User-friendly mobile interface for convenient account management
• Interest earnings on qualifying balances

Starship HSA is a great all-around option for users who want both everyday accessibility and long-term investment growth in a single, easy-to-manage account.

Best for Zero Maintenance Fees: Fidelity HSA

Fidelity’s Health Savings Account stands out for offering a no-fee experience while giving users access to one of the most robust investment platforms available. Powered by Fidelity’s trusted online brokerage system, it provides the same wide variety of investment opportunities as a regular brokerage account — but with the added tax advantages of an HSA. This makes it an excellent choice for active or growth-oriented investors who want to maximize their health savings through smart market participation.

Key Features:

• No monthly maintenance fees for individual HSAs (some employer accounts may have fees)
• No trading commissions on eligible investments
• No minimum balance requirement to begin investing
• Free debit card and checkbook for convenient access to funds
• Full online and mobile banking support with intuitive account management tools

Fidelity HSA combines zero maintenance costs with unmatched investment flexibility, making it a top pick for users seeking a low-cost, high-growth health savings option.

Best for Active Investors: Lively HSA

Lively HSA partners with TD Ameritrade to provide a powerful investing platform that appeals to hands-on investors. Through this partnership, account holders gain access to a wide range of investment options, along with advanced research tools and detailed market data — ideal for those who prefer managing their own portfolios. Unlike a basic robo-advisor, TD Ameritrade offers robust features designed for active trading and informed decision-making.

Another advantage is that there’s no minimum balance requirement to start investing, and no trading commissions, making it cost-effective for frequent investors who want both flexibility and control.

Key Features:

• No monthly or annual fees for employees with individual HSA plans
• $2.95 monthly fee per user for employers, including self-employed individuals
• Free debit card for easy medical expense payments
• Earn interest on uninvested cash balances
• Full online banking access with user-friendly tools

Lively HSA is an excellent option for investors who want to take an active role in growing their health savings while keeping fees and restrictions to a minimum.

Best Robo-Advisor: Further HSA (Formerly Select Account)

Further HSA partners with Charles Schwab to provide a seamless investing experience for users who prefer automated portfolio management. With just $1,000, you can start investing in a preselected asset allocation, or deposit $10,000 or more to access Schwab’s Intelligent Portfolios, one of the most sophisticated robo-advisor platforms available. This makes Further HSA an ideal choice for long-term investors who want professional, hands-off portfolio management within a tax-advantaged account.

Key Features:

• No trading commissions on U.S. equities
• $18 annual account fee, plus $1–$4 monthly maintenance fees
• Competitive interest on qualifying balances
• No enrollment, closure, or refund fees
• Debit card and online banking combo available starting at $30 per year

Further HSA blends automation with flexibility, allowing users to benefit from Schwab’s trusted investment expertise while maintaining the tax advantages and convenience of a traditional HSA.

Methodology: How We Chose the Best HSA Companies

Not all Health Savings Accounts (HSAs) offer the same benefits. Each provider has its own advantages and drawbacks, so understanding your personal needs is key to finding the right fit. When evaluating the best HSA companies, we focused on five essential factors that influence usability, affordability, and growth potential.

1. Ease of Access

If you plan to make regular withdrawals from your HSA, accessibility should be a top priority. Many providers now offer debit cards, checks, online banking, and bill payment features that function much like a traditional checking account. When comparing options, consider how easily you can access your funds — especially if you’ll use your HSA primarily for ongoing medical expenses rather than long-term investments.

2. Investment Options

HSA users typically fall into two categories:

• Those who treat their HSA like a savings account for short-term medical costs.
• Those who see it as an investment vehicle for tax-free long-term growth.

If you belong to the first group, look for HSAs with simple management tools and competitive interest rates. If you’re in the second group, prioritize accounts offering a broad range of investment choices — such as mutual funds, ETFs, or managed portfolios — similar to what you’d find in a traditional brokerage account.

3. Minimum Balance Requirements

Some HSA administrators set minimum balance thresholds that must be met to avoid maintenance fees or unlock investment options. Falling below these limits can result in penalties or limited access to features. To ensure flexibility, we favored HSAs with low or no minimum balance requirements, giving account holders more freedom to manage their funds without added restrictions.

4. Fees and Costs

Every HSA provider has its own fee structure, which can include charges such as:

• Monthly or annual maintenance fees
• Investment management or trading fees
• Enrollment or account closure fees
• Excess contribution correction fees
• Customer service fees for live support

Because hidden or confusing fees can eat into your savings, we prioritized providers that are transparent and affordable, ideally offering low or zero ongoing fees. Always review fee disclosures before opening an account to avoid unpleasant surprises.

5. Interest Rates

Some HSAs operate like savings or checking accounts, paying modest interest on your balance. However, it’s crucial to balance interest earnings against any recurring fees.

For instance, an account that charges $5 per month but pays 0.2% interest would cost more in fees than it earns in interest unless you maintain a very large balance. Often, you’re better off choosing a no-fee account even if it offers little or no interest.

Conclusion

Choosing the right Health Savings Account (HSA) depends on your personal financial goals and how you plan to use your funds. If your focus is on everyday healthcare expenses, a low-fee, easily accessible HSA with checking-style features may be best. On the other hand, if you’re aiming to grow your savings for future medical costs or retirement, an investment-friendly HSA with diverse portfolio options is ideal.

No matter your preference, it’s essential to compare providers based on fees, investment flexibility, accessibility, and minimum balance requirements. The goal is to ensure your HSA works efficiently for your lifestyle — whether that means maximizing convenience, minimizing costs, or building long-term tax-free wealth.

Ultimately, the right HSA can serve as both a smart healthcare tool and a powerful financial asset, helping you secure your health and your future simultaneously.