Lively vs HealthEquity
2026 side-by-side comparison of fees, investment options, and features.
Lively
Lively is a fintech HSA provider with a clean, modern interface and no monthly fees. They offer both self-directed investing through Schwab and guided portfolios through Devenir.
HealthEquity
HealthEquity is the largest non-bank HSA custodian with over 8 million accounts. They offer a curated lineup of low-cost Vanguard funds and strong employer integrations.
Quick Verdict
Choose Lively if...
Tech-savvy users who want a modern HSA with investing options
Choose HealthEquity if...
Employees with employer-sponsored HSAs who want solid Vanguard funds
Feature Comparison
| Feature | Lively | HealthEquity |
|---|---|---|
| Monthly Fee | $0 | $0 (maintenance fee eliminated) |
| Investment Minimum | $0 (with $24/year fee) or $3,000 (no fee) | $500 |
| Investment Options | Schwab self-directed brokerage or Devenir guided portfolios | 23 low-cost Vanguard mutual funds |
| Interest Rate | 0.01%–0.02% APY | 0.05%–0.30% APY (tiered) |
| Account Type | fintech | fintech |
| FDIC Insured | Yes | Yes |
| Mobile App | Yes | Yes |
| Debit Card | Yes | Yes |
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
- $24/year fee for investing with no minimum, or $3,000 threshold
- Guided portfolios charge 0.50% annual fee
- Lower interest rates on cash
HealthEquity
Pros
- Largest HSA administrator by accounts
- Excellent low-cost Vanguard fund lineup
- No maintenance fees
- Strong employer integration
- Monthly investment fee capped at $10
Cons
- 0.033%/month investment admin fee (capped at $10)
- $500 investment threshold
- $25 fee for partial transfers (as of Nov 2025)
- Fees add up at higher balances
Provider Details
Lively
Lively is a fintech HSA provider with a clean, modern interface and no monthly fees. They offer both self-directed investing through Schwab and guided portfolios through Devenir.
Monthly Fee
$0
Investment Minimum
$0 (with $24/year fee) or $3,000 (no fee)
Investment Options
Schwab self-directed brokerage or Devenir guided portfolios
Best For
Tech-savvy users who want a modern HSA with investing options
HealthEquity
HealthEquity is the largest non-bank HSA custodian with over 8 million accounts. They offer a curated lineup of low-cost Vanguard funds and strong employer integrations.
Monthly Fee
$0 (maintenance fee eliminated)
Investment Minimum
$500
Investment Options
23 low-cost Vanguard mutual funds
Best For
Employees with employer-sponsored HSAs who want solid Vanguard funds
Frequently Asked Questions
Which has lower fees, Lively or HealthEquity?
Lively has no monthly fees ($0), while HealthEquity charges $0 (maintenance fee eliminated). For cost-conscious users, Lively may be the better choice.
Which has better investment options?
Lively offers Schwab self-directed brokerage or Devenir guided portfolios. HealthEquity offers 23 low-cost Vanguard mutual funds. The best choice depends on your investment style and preferences.
Is my money FDIC insured with Lively or HealthEquity?
Both Lively and HealthEquity 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 Lively to HealthEquity?
Yes, you can transfer your HSA funds between any HSA providers. Most transfers take 2-4 weeks. Check with both Lively 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 HealthEquity with $500 investment minimum. Lively is tech-savvy users who want a modern hsa with investing options. 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 Lively and HealthEquity?
Yes, HSA Trackr works with any HSA provider including both Lively 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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