Fidelity HSA vs HealthEquity
2026 side-by-side comparison of fees, investment options, and features.
Fidelity HSA
Fidelity offers one of the best HSAs for investors with zero account fees, zero trading fees, and full access to their brokerage platform. Consistently rated the top HSA by Morningstar for both spending and investing use cases.
HealthEquity
HealthEquity is the largest non-bank HSA custodian with over 8 million accounts. They offer a curated lineup of low-cost Vanguard funds and strong employer integrations.
Quick Verdict
Choose Fidelity HSA if...
Long-term investors who want $0 fees and full brokerage access
Choose HealthEquity if...
Employees with employer-sponsored HSAs who want solid Vanguard funds
Feature Comparison
| Feature | Fidelity HSA | HealthEquity |
|---|---|---|
| Monthly Fee | $0 | $0 (maintenance fee eliminated) |
| Investment Minimum | $0 | $500 |
| Investment Options | Full brokerage access - stocks, ETFs, mutual funds, bonds | 23 low-cost Vanguard mutual funds |
| Interest Rate | 0.82% APY (as of Jan 2026) | 0.05%–0.30% APY (tiered) |
| Account Type | brokerage | fintech |
| FDIC Insured | No | Yes |
| Mobile App | Yes | Yes |
| Debit Card | Yes | Yes |
Fidelity HSA
Pros
- No account fees, trading fees, or investment minimums
- Full access to Fidelity's brokerage platform
- Excellent mobile app and customer service
- Fidelity Go managed option available
- No minimum balance to start investing
Cons
- Not FDIC insured (SIPC protected)
- Must transfer out of employer HSA to use
- Cash earns lower interest than some banks
HealthEquity
Pros
- Largest HSA administrator by accounts
- Excellent low-cost Vanguard fund lineup
- No maintenance fees
- Strong employer integration
- Monthly investment fee capped at $10
Cons
- 0.033%/month investment admin fee (capped at $10)
- $500 investment threshold
- $25 fee for partial transfers (as of Nov 2025)
- Fees add up at higher balances
Provider Details
Fidelity HSA
Fidelity offers one of the best HSAs for investors with zero account fees, zero trading fees, and full access to their brokerage platform. Consistently rated the top HSA by Morningstar for both spending and investing use cases.
Monthly Fee
$0
Investment Minimum
$0
Investment Options
Full brokerage access - stocks, ETFs, mutual funds, bonds
Best For
Long-term investors who want $0 fees and full brokerage access
HealthEquity
HealthEquity is the largest non-bank HSA custodian with over 8 million accounts. They offer a curated lineup of low-cost Vanguard funds and strong employer integrations.
Monthly Fee
$0 (maintenance fee eliminated)
Investment Minimum
$500
Investment Options
23 low-cost Vanguard mutual funds
Best For
Employees with employer-sponsored HSAs who want solid Vanguard funds
Frequently Asked Questions
Which has lower fees, Fidelity HSA or HealthEquity?
Fidelity HSA has no monthly fees ($0), while HealthEquity charges $0 (maintenance fee eliminated). For cost-conscious users, Fidelity HSA may be the better choice.
Which has better investment options?
Fidelity HSA offers Full brokerage access - stocks, ETFs, mutual funds, bonds. HealthEquity offers 23 low-cost Vanguard mutual funds. The best choice depends on your investment style and preferences.
Is my money FDIC insured with Fidelity HSA or HealthEquity?
HealthEquity offers FDIC insurance on cash deposits. Fidelity HSA does not offer FDIC insurance, but invested funds may have SIPC protection.
Can I transfer my HSA from Fidelity HSA to HealthEquity?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both Fidelity HSA and HealthEquity for any transfer fees - incoming transfers are usually free, but outgoing transfers may incur a fee.
Which HSA is better for long-term investing?
For long-term investing, consider Fidelity HSA with no investment minimum. Fidelity HSA is long-term investors who want $0 fees and full brokerage access. HealthEquity is employees with employer-sponsored hsas who want solid vanguard funds. Both can work well for building retirement health savings.
Does HSA Trackr work with Fidelity HSA and HealthEquity?
Yes, HSA Trackr works with any HSA provider including both Fidelity HSA and HealthEquity. Track your medical expenses, store receipts, and know exactly how much you can reimburse tax-free - regardless of which HSA you choose.
Related Comparisons
This comparison is for informational purposes only. HSA provider features and fees may change. Verify current information directly with each provider before opening an account.
Works with any HSA provider
Whether you choose Fidelity, Lively, or any other HSA, HSA Trackr helps you organize receipts and maximize your tax-free reimbursements.
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