Fidelity HSA vs Optum 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.
Optum Bank
Optum Bank is owned by UnitedHealth Group and is one of the largest HSA administrators. They offer multiple investment paths including mutual funds, a Schwab brokerage account, and Betterment robo-advisor.
Quick Verdict
Choose Fidelity HSA if...
Long-term investors who want $0 fees and full brokerage access
Choose Optum Bank if...
UnitedHealthcare members or employees with UHG-sponsored HSAs
Feature Comparison
| Feature | Fidelity HSA | Optum Bank |
|---|---|---|
| Monthly Fee | $0 | $2.50 (waived at $3,000+ balance) |
| Investment Minimum | $0 | $2,000 |
| Investment Options | Full brokerage access - stocks, ETFs, mutual funds, bonds | 30+ mutual funds, Schwab brokerage, or Betterment |
| Interest Rate | 0.82% APY (as of Jan 2026) | 0.01%–0.15% 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
Optum Bank
Pros
- Part of UnitedHealth Group - good employer integration
- Multiple investment options including Schwab brokerage
- Betterment robo-advisor option
- Investment fee capped at $10/month
- FDIC insured deposits
Cons
- $2.50/month fee until $3,000 balance
- $2,000 threshold before investing
- $5,000 required in cash to waive investment fees
- Low interest rates on cash
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
Optum Bank
Optum Bank is owned by UnitedHealth Group and is one of the largest HSA administrators. They offer multiple investment paths including mutual funds, a Schwab brokerage account, and Betterment robo-advisor.
Monthly Fee
$2.50 (waived at $3,000+ balance)
Investment Minimum
$2,000
Investment Options
30+ mutual funds, Schwab brokerage, or Betterment
Best For
UnitedHealthcare members or employees with UHG-sponsored HSAs
Frequently Asked Questions
Which has lower fees, Fidelity HSA or Optum Bank?
Fidelity HSA has no monthly fees ($0), while Optum Bank charges $2.50 (waived at $3,000+ 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. Optum Bank offers 30+ mutual funds, Schwab brokerage, or Betterment. The best choice depends on your investment style and preferences.
Is my money FDIC insured with Fidelity HSA or Optum Bank?
Optum 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 Optum Bank?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both Fidelity HSA and Optum 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. Optum Bank is unitedhealthcare members or employees with uhg-sponsored hsas. Both can work well for building retirement health savings.
Does HSA Trackr work with Fidelity HSA and Optum Bank?
Yes, HSA Trackr works with any HSA provider including both Fidelity HSA and Optum 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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