Lively HSA No Monthly Fee Official Checklist (2026) | HSA

Log into your Lively account and locate the 'Pricing' or 'Fee Schedule' page.

Lively's official pricing documentation is the source of truth. Verifying it in your portal confirms you are on the current individual plan with $0 monthly maintenance, $0 account opening, and $0 transfer fees.

Check your last three monthly statements for any line-item fees.

The $0 monthly fee applies to maintenance, but statements could show charges for specific transactions like a replacement debit card or paper statements. Catching these early lets you switch to digital to keep costs at zero.

Confirm your account is listed as an 'Individual' HSA, not an 'Employer' plan where you pay.

While Lively's basic HSA is free for employees on employer plans, confirming your classification prevents confusion. If you left a job, ensure your account was converted to an individual type to maintain the fee-free status.

Review if you have any investment accounts linked (Schwab or Guided Portfolio).

The core cash account is free, but investment options have fees. Knowing if you have an investment account open is the first step to understanding your total potential costs.

Set up electronic statements and document delivery to avoid paper statement fees.

Many financial institutions, including HSA providers, charge fees for mailing paper statements. Opting for electronic delivery is a simple way to protect your $0 fee structure.

Determine if you are using or want to use the Schwab HSBA with the $24 annual fee option.

If your invested balance is below $3,000, this is the only way to access Schwab. The flat $24 fee is predictable, but you must decide if the potential investment returns justify this fixed cost.

Calculate if your invested balance exceeds $3,000 to qualify for fee-free Schwab access.

Lively waives its $24 annual fee for the Schwab HSBA if you only invest amounts above a $3,000 cash threshold. Knowing this helps you plan your contribution strategy to reach that minimum.

Read the fee disclosure for the HSA Guided Portfolio's 0.50% annual management fee.

A 0.50% fee is billed quarterly based on your invested assets. On a $10,000 portfolio, that's $50 per year. Compare this cost to the potential convenience of automated management versus a self-directed account.

Compare Lively's investment fees to a provider like Fidelity for your strategy.

Fidelity's HSA offers $0 trading fees for Fidelity funds and ETFs with no balance minimums. If you are an active investor, the fee difference could be significant over time, even if both have $0 monthly account fees.

Decide if you will use the HSA as a long-term investment vehicle or a short-term medical fund.

If you plan to spend the funds soon on medical costs, keeping it in the free cash account avoids all investment fees. If it is for retirement, accepting a reasonable fee for growth may be worth it.

Confirm you are enrolled in a qualified High-Deductible Health Plan (HDHP) for 2026.

HSA eligibility absolutely requires an HDHP. For 2026, the minimum deductibles are $1,700 for individual and $3,400 for family coverage. Contributing without an HDHP leads to IRS penalties.

Verify your HDHP's out-of-pocket maximum meets 2026 limits.

For 2026, the HDHP out-of-pocket maximums cannot exceed $8,500 for individual or $17,000 for family. Plans exceeding these limits disqualify you from HSA contributions, regardless of the deductible.

Check that you are not covered by a non-HDHP, like a general purpose FSA or spouse's plan.

Being covered by any non-qualifying plan, even as secondary insurance, can make you ineligible for HSA contributions. This is a common mistake that triggers IRS audit flags.

Apply the correct 2026 contribution limit ($4,400 individual / $8,750 family) in Lively's system.

Lively's system may have the 2026 limits pre-loaded, but you are responsible for entering the correct contribution amount via payroll or direct deposit. Exceeding the limit results in a 6% IRS excise tax.

Factor in the $1,000 catch-up contribution if you will be 55 or older at any point in 2026.

The catch-up contribution is an additional allowance. You must be 55 or older to be eligible, and it is not prorated. Lively may not automatically prompt you for this, so you need to add it manually.

Set up payroll deductions for HSA contributions if you are a W-2 employee.

Contributions made via payroll deduction avoid FICA taxes (Social Security and Medicare), a 7.65% immediate savings that you do not get with after-tax contributions you deduct later.

Use Lively's receipt upload tool or your own system to document every HSA withdrawal.

You must prove withdrawals were for qualified medical expenses if the IRS audits you. Digital records linked to the transaction create a clear audit trail and reduce fear of penalties.

Review the list of eligible expenses, including dental, vision, mental health, and OTC items.

Many people underuse their HSA because they do not know what is eligible. Understanding the full scope, from acupuncture to sunscreen with SPF, helps you use tax-free funds instead of taxable cash.

Consider paying current medical bills out-of-pocket and leaving HSA funds invested.

This is a key retirement strategy. You keep receipts for expenses incurred now and can reimburse yourself tax-free at any future date, allowing your HSA investments more time to grow compounded.

Evaluate if the 'last-month rule' applies if you became eligible mid-year.

As Lively's guide notes, if you are HSA-eligible on December 1, 2026, and remain eligible through all of 2027, you can contribute the full 2026 annual limit. This rule can lead to significant extra tax savings.

Create a plan for your HSA if you switch employers or lose HDHP coverage.

You cannot contribute if you are not HSA-eligible, but your existing funds remain. You can still use them for expenses or invest them. The Lively account stays open and free, so there is no pressure to transfer.

Decide if a future balance transfer or consolidation to another provider makes sense.

While Lively has no transfer fees, another provider might offer better investment options for a large balance. Periodically compare providers, but factor in the effort of transferring assets versus the benefit.

Project your retirement healthcare costs and set an HSA investment target.

Seeing your HSA as a dedicated retirement healthcare fund changes your strategy. A target balance helps you decide how aggressively to invest within Lively's fee structure to meet that goal.

Inform family members or a trusted contact about your HSA and its purpose.

HSAs have specific inheritance rules. Making a spouse or beneficiary aware of the account ensures it is handled correctly and its tax benefits are not lost upon your death.

Schedule an annual review each November to assess fees, limits, and contributions.

IRS limits and your personal situation change yearly. A set review ensures you adjust payroll contributions for the coming year, check for new fees, and confirm you are still on track with your strategy.