Fidelity HSA vs HSA Bank
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.
HSA Bank
HSA Bank is a division of Webster Bank and one of the largest HSA administrators. They're known for their TD Ameritrade (now Schwab) brokerage integration, giving investors access to stocks, ETFs, and thousands of mutual funds.
Quick Verdict
Choose Fidelity HSA if...
Long-term investors who want $0 fees and full brokerage access
Choose HSA Bank if...
Investors who want TD Ameritrade/Schwab brokerage access through their employer
Feature Comparison
| Feature | Fidelity HSA | HSA Bank |
|---|---|---|
| Monthly Fee | $0 | $2.50 (waived at $5,000+ balance) |
| Investment Minimum | $0 | $1,000 |
| Investment Options | Full brokerage access - stocks, ETFs, mutual funds, bonds | TD Ameritrade self-directed brokerage, Devenir mutual funds |
| Interest Rate | 0.82% APY (as of Jan 2026) | 0.01%–0.08% APY (tiered) |
| Account Type | brokerage | bank |
| 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
HSA Bank
Pros
- TD Ameritrade brokerage with $0 stock/ETF trades
- Access to 13,000+ mutual funds
- Low-cost Devenir option (0.30% annual fee, capped at $50K)
- 2nd lowest cost among top HSA providers
- Strong employer partnerships
Cons
- $2.50/month fee below $5,000
- $1,000 minimum before investing
- TD Ameritrade now part of Schwab (transition ongoing)
- Low interest on cash deposits
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
HSA Bank
HSA Bank is a division of Webster Bank and one of the largest HSA administrators. They're known for their TD Ameritrade (now Schwab) brokerage integration, giving investors access to stocks, ETFs, and thousands of mutual funds.
Monthly Fee
$2.50 (waived at $5,000+ balance)
Investment Minimum
$1,000
Investment Options
TD Ameritrade self-directed brokerage, Devenir mutual funds
Best For
Investors who want TD Ameritrade/Schwab brokerage access through their employer
Frequently Asked Questions
Which has lower fees, Fidelity HSA or HSA Bank?
Fidelity HSA has no monthly fees ($0), while HSA Bank charges $2.50 (waived at $5,000+ balance). 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. HSA Bank offers TD Ameritrade self-directed brokerage, Devenir mutual funds. The best choice depends on your investment style and preferences.
Is my money FDIC insured with Fidelity HSA or HSA Bank?
HSA Bank 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 HSA Bank?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both Fidelity HSA and HSA Bank 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. HSA Bank is investors who want td ameritrade/schwab brokerage access through their employer. Both can work well for building retirement health savings.
Does HSA Trackr work with Fidelity HSA and HSA Bank?
Yes, HSA Trackr works with any HSA provider including both Fidelity HSA and HSA Bank. 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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