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 offers employer-integrated HSAs. Monthly administration fees and investment options vary by plan.
Quick Verdict
Choose Fidelity HSA if...
Hands-on 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 | $2.95/month (plan-dependent). Fees checked October 7, 2026 |
| Investment Minimum | $0 | $500 |
| Investment Options | Full brokerage access - stocks, ETFs, mutual funds, bonds | Vanguard funds; options vary by plan |
| Interest Rate | Rates vary; check current Fidelity HSA options | Rates vary by plan |
| 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
- Strong employer integration
- Monthly investment fee capped at $10
Cons
- 0.03%/month investment administration fee, capped at $10
- $500 investment threshold
- Partial-transfer fee is listed in the Member Portal, no more than $25
- 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
Hands-on investors who want $0 fees and full brokerage access
HealthEquity
HealthEquity offers employer-integrated HSAs. Monthly administration fees and investment options vary by plan.
Monthly Fee
$2.95/month (plan-dependent). Fees checked October 7, 2026
Investment Minimum
$500
Investment Options
Vanguard funds; options vary by plan
Best For
Employees with employer-sponsored HSAs who want solid Vanguard funds
What you actually pay to switch
The headline fee row needs context: the amount you pay depends on the account type, employer plan, investment service, and whether you make a partial transfer.
Fidelity
Fidelity says there is no opening fee for a self-directed HSA. A workplace HSA may pass through an administrative fee of up to $12 per quarter unless the employer pays it. See the current Fidelity HSA fee FAQ.
HealthEquity
HealthEquity says monthly administration fees vary by plan and may be waived above a $2,500 cash balance. For a partial transfer, the fee is shown in the Member Portal and is no more than $25; at least $25 must remain in the account. Review the current HealthEquity fee guidance plus its investment fee details and transfer guidance.
A custodian transfer moves HSA funds, not your receipt and reimbursement record. Keep that proof provider-independent with the HSA Trackr Digital Shoebox. Sources checked August 20, 2026.
Your HSA Fee and Switch Report
See what your custodian's published fees could add up to over 20 years, and how to move if you decide to.
- A 20-year fee estimate from your custodian's published fees and your balance.
- A side-by-side with the custodian you're considering, using the same inputs.
- A step-by-step move plan: which form to request, what to ask, and how to keep your receipts and records through the transfer.
Planned price: $19, one time.
Planned launch: January 2027.
Estimates use published fees at the time of the report. Fees can change.
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Frequently Asked Questions
Which has lower fees, Fidelity HSA or HealthEquity?
Fidelity HSA has no monthly fees, while HealthEquity charges $2.95/month (plan-dependent). Fees checked October 7, 2026. 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 Vanguard funds; options vary by plan. 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 hands-on 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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