HSA Bank vs Lively
2026 side-by-side comparison of fees, investment options, and features.
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.
Disclosure: We earn a commission if you open a Lively account through our links. It doesn't change what you pay.
Lively
Lively is a benefits platform with a clean, modern HSA and no monthly fees. They offer both self-directed investing through Schwab and guided portfolios through Devenir.
Open a Lively HSA through our link and complete account verification, and Lively waives the $24 a year fee for its Schwab Self-Directed Brokerage Account. There's nothing extra to enter.
The $24 fee is only for the Schwab self-directed option, and it is already $0 at $3,000 or more. The Guided Portfolio still costs 0.50% a year on invested assets. Schwab fees may apply.
Save $24 a year with our linkQuick Verdict
Choose HSA Bank if...
Investors who want TD Ameritrade/Schwab brokerage access through their employer
Choose Lively if...
People who want cash and investing in one app, with no account fees
Feature Comparison
| Feature | HSA Bank | Lively |
|---|---|---|
| Monthly Fee | $2.50 (waived at $5,000+ balance) | $0 |
| Investment Minimum | $1,000 | $0 |
| Investment Options | TD Ameritrade self-directed brokerage, Devenir mutual funds | Schwab self-directed brokerage or Devenir guided portfolios |
| Interest Rate | 0.01%–0.08% APY (tiered) | 0.01%–0.02% APY |
| Account Type | bank | benefits |
| FDIC Insured | Yes | Yes |
| Mobile App | Yes | Yes |
| Debit Card | Yes | Yes |
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
Lively
Pros
- No monthly maintenance fees
- Modern, user-friendly interface
- FDIC insured cash
- Schwab brokerage option for self-directed investing
- Good for individuals and employers
Cons
- Schwab self-directed: $24 a year, or $0 at $3,000 and up. Schwab fees may apply.
- Guided Portfolio (Devenir): 0.50% a year on invested assets
- Lower interest rates on cash
Provider Details
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
Lively
Lively is a benefits platform with a clean, modern HSA and no monthly fees. They offer both self-directed investing through Schwab and guided portfolios through Devenir.
Monthly Fee
$0
Investment Minimum
$0
Investment Options
Schwab self-directed brokerage or Devenir guided portfolios
Best For
People who want cash and investing in one app, with no account fees
Frequently Asked Questions
Which has lower fees, HSA Bank or Lively?
Lively has no monthly fees, while HSA Bank charges $2.50 (waived at $5,000+ balance). For cost-conscious users, Lively may be the better choice.
Which has better investment options?
HSA Bank offers TD Ameritrade self-directed brokerage, Devenir mutual funds. Lively offers Schwab self-directed brokerage or Devenir guided portfolios. The best choice depends on your investment style and preferences.
Is my money FDIC insured with HSA Bank or Lively?
Both HSA Bank and Lively offer FDIC insurance on cash deposits, protecting up to $250,000 per depositor. Invested funds are not FDIC insured but may have SIPC protection.
Can I transfer my HSA from HSA Bank to Lively?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both HSA Bank and Lively 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 Lively with $0 investment minimum. HSA Bank is investors who want td ameritrade/schwab brokerage access through their employer. Lively is people who want cash and investing in one app, with no account fees. Both can work well for building retirement health savings.
Does HSA Trackr work with HSA Bank and Lively?
Yes, HSA Trackr works with any HSA provider including both HSA Bank and Lively. 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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