Fidelity HSA (Self-Directed) vs Fidelity Go HSA (Managed)
Understanding the costs associated with your Health Savings Account (HSA) is paramount to maximizing its triple tax advantage, especially when planning for 2026. Many W2 employees with HDHPs, self-employed individuals, and families often overlook the impact of various fees on their long-term savings. Fidelity is a popular choice for HSAs due to its robust investment platform, but how do the various fidelity hsa fees 2026 offerings stack up? This comparison will break down the fee structures for Fidelity's self-directed HSA versus its managed Fidelity Go HSA, helping you determine which option best aligns with your financial strategy and investment comfort level. We'll examine everything from account maintenance to investment costs, ensuring you avoid missing out on potential growth.
Fidelity HSA (Self-Directed)
The Fidelity HSA (Self-Directed) is ideal for individuals who want complete control over their investment choices. It offers a broad range of investment options, including commission-free US stocks, ETFs, and a wide selection of mutual funds, allowing you to tailor your portfolio to your exact
Fidelity Go HSA (Managed)
The Fidelity Go HSA provides a hands-off, professionally managed investment experience, perfect for those who prefer automated portfolio management. It constructs and rebalances your portfolio based on your risk profile and financial goals, removing the need for you to make individual investment
| Feature | Fidelity HSA (Self-Directed) | Fidelity Go HSA (Managed) |
|---|---|---|
| Account Maintenance Fee | $0Winner | $0 below $25k, 0.35% annually above $25k |
| Minimums to Open/Invest | $0 to open/maintain, no investment minimumWinner | $0 to open, $10 minimum to invest |
| Investment Control & Strategy | Full self-direction over investments (stocks, ETFs, mutual funds)Tie | Automated, professionally managed portfolio based on risk profileTie |
| Investment Transaction Fees | $0 commissions on US stocks/ETFs; mutual fund expenses applyTie | $0 commissions on US stocks/ETFs; mutual fund expenses applyTie |
| Cash Sweep Interest Rate (as of 4/2/2026) | 3.37% (Fidelity Money Market, 7-day yield)Tie | 3.37% (Fidelity Money Market, 7-day yield, for uninvested cash)Tie |
| Advisory Services | None, self-service investment platform | Robo-advisor management, automatic rebalancingWinner |
| Employer Workplace HSA Option | Available as a direct individual accountTie | Available as a direct individual accountTie |
Our Verdict
When evaluating fidelity hsa fees 2026, the choice between the self-directed Fidelity HSA and Fidelity Go HSA largely depends on your comfort level with investment management and the size of your HSA balance. For those who enjoy actively managing their investments, or for individuals with larger balances (over $25,000) who want to avoid advisory fees, the self-directed Fidelity HSA is the clear
Best for: Fidelity HSA (Self-Directed)
- Experienced investors who want full control over their portfolio.
- Individuals with HSA balances exceeding $25,000 who wish to avoid advisory fees.
- Those who prefer to select specific stocks, ETFs, or mutual funds.
- Account holders who want to minimize all potential fees for a hands-on approach.
Best for: Fidelity Go HSA (Managed)
- Newer investors or those preferring a hands-off, automated approach.
- Individuals with HSA balances under $25,000 who benefit from free advisory services.
- Busy professionals who want their HSA managed without constant attention.
- Anyone looking for a professionally designed and rebalanced portfolio.
Pro Tips
- Always invest your HSA funds: The average invested HSA balance is 7x higher than uninvested ones. Don't let your money sit idly in cash if you don't need it for immediate expenses.
- Understand the difference between employer-sponsored and individual HSAs: While many employers offer HSAs, you can also open one directly with a provider like Fidelity, potentially offering more investment flexibility or lower fees.
- Keep meticulous records of eligible expenses: This will protect you during an IRS audit and ensure you can reimburse yourself tax-free years down the line, even if you paid out-of-pocket initially.
- Consider the 'mega backdoor' strategy: If you have substantial healthcare costs covered elsewhere, you can pay out-of-pocket and let your HSA grow as a super-charged retirement account, reimbursing yourself tax-free later.
- Review your investment choices annually: Your risk tolerance and financial goals may change, or new, better-performing funds might become available. Rebalance your portfolio to stay on track.
Frequently Asked Questions
What are the 2026 HSA contribution limits and HDHP eligibility requirements?
For 2026, the maximum HSA contribution is $4,400 for self-only coverage and $8,750 for family coverage. Individuals aged 55 and over (and not on Medicare) can contribute an additional $1,000 catch-up contribution. To be eligible for an HSA in 2026, you must be enrolled in a High-Deductible Health Plan (HDHP) with a minimum deductible of $1,700 for self-only coverage or $3,400 for family coverage.
Does Fidelity charge a fee to open or maintain an individual HSA account?
No, for individual or direct Fidelity HSAs, there are generally no fees to open or maintain the account. This means you won't incur monthly or annual service charges just for having your HSA with Fidelity. Additionally, Fidelity does not impose a minimum balance requirement for these accounts. This zero-fee structure is a significant advantage, particularly for those looking to maximize every dollar contributed and invested without erosion from administrative costs, making it a very appealing
How do Fidelity Go HSA fees work for managed investments?
Fidelity Go HSA, which offers professionally managed portfolios, has a tiered advisory fee structure. For balances under $25,000, there is no advisory fee. However, once your balance reaches $25,000 or more, an annual advisory fee of 0.35% is applied. This fee covers the cost of portfolio management, including asset allocation and automatic rebalancing.
What kind of investment fees should I expect with a Fidelity HSA?
Fidelity HSAs are known for their low investment costs. You'll pay $0 in commissions for trading US stocks and exchange-traded funds (ETFs), regardless of whether you're in a self-directed or Fidelity Go account. However, mutual fund expense ratios will still apply to any mutual funds you choose to invest in. Fidelity also offers select HSA Funds to Consider with no transaction fees, and a fee waiver is in place for these until October 31, 2026.
How does Fidelity's HSA cash interest rate compare to other providers in 2026?
As of April 2, 2026, Fidelity's uninvested HSA cash held in a Money Market fund offers a competitive 7-day yield of 3.37%. This rate is significantly higher than many other major HSA providers. For instance, HealthEquity's cash rate was 0.10%, Optum's was 0.06%, and Lively's was 0.02%. This robust cash interest rate means that even your uninvested funds are working harder for you at Fidelity, reducing the need to keep excess cash elsewhere and maximizing your potential returns.
What are the penalties for HSA excess contributions or non-qualified withdrawals?
It is critical to adhere to HSA rules to avoid penalties. If you contribute more than the annual limit, you face a 6% excise tax on the excess amount, in addition to income tax on that excess. For non-qualified withdrawals—meaning using funds for non-eligible expenses before age 65—you will incur a 20% penalty on the withdrawal amount, plus the withdrawal will be subject to your ordinary income tax rate.
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