HSA Bank vs The HSA Authority (UMB)
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.
The HSA Authority (UMB)
The HSA Authority (formerly Old National Bank HSA) was acquired by UMB Healthcare Services in 2025. They offer a straightforward HSA with Devenir mutual fund investing and solid banking features.
Quick Verdict
Choose HSA Bank if...
Investors who want TD Ameritrade/Schwab brokerage access through their employer
Choose The HSA Authority (UMB) if...
Employer-sponsored HSA users who receive the account through work
Feature Comparison
| Feature | HSA Bank | The HSA Authority (UMB) |
|---|---|---|
| Monthly Fee | $2.50 (waived at $5,000+ balance) | $3/month ($36/year) |
| Investment Minimum | $1,000 | $1,000 |
| Investment Options | TD Ameritrade self-directed brokerage, Devenir mutual funds | 31 mutual funds via Devenir |
| Interest Rate | 0.01%–0.08% APY (tiered) | 0.01%–0.15% APY (tiered) |
| Account Type | bank | bank |
| 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
The HSA Authority (UMB)
Pros
- Acquired by UMB - improved technology and tools
- Solid mutual fund selection via Devenir
- Free incoming transfers
- FDIC insured deposits
Cons
- $36/year account fee
- $1,000 minimum to invest
- Manual transfers required to investment account
- No automatic investing feature
- $25 outgoing transfer fee
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
The HSA Authority (UMB)
The HSA Authority (formerly Old National Bank HSA) was acquired by UMB Healthcare Services in 2025. They offer a straightforward HSA with Devenir mutual fund investing and solid banking features.
Monthly Fee
$3/month ($36/year)
Investment Minimum
$1,000
Investment Options
31 mutual funds via Devenir
Best For
Employer-sponsored HSA users who receive the account through work
Frequently Asked Questions
Which has lower fees, HSA Bank or The HSA Authority (UMB)?
HSA Bank charges $2.50 (waived at $5,000+ balance) per month, while The HSA Authority (UMB) charges $3/month ($36/year). Compare total costs including investment fees before deciding.
Which has better investment options?
HSA Bank offers TD Ameritrade self-directed brokerage, Devenir mutual funds. The HSA Authority (UMB) offers 31 mutual funds via Devenir. The best choice depends on your investment style and preferences.
Is my money FDIC insured with HSA Bank or The HSA Authority (UMB)?
Both HSA Bank and The HSA Authority (UMB) 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 The HSA Authority (UMB)?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both HSA Bank and The HSA Authority (UMB) 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 The HSA Authority (UMB) with $1,000 investment minimum. HSA Bank is investors who want td ameritrade/schwab brokerage access through their employer. The HSA Authority (UMB) is employer-sponsored hsa users who receive the account through work. Both can work well for building retirement health savings.
Does HSA Trackr work with HSA Bank and The HSA Authority (UMB)?
Yes, HSA Trackr works with any HSA provider including both HSA Bank and The HSA Authority (UMB). 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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