Lively HSA vs Fidelity HSA
Choosing an HSA provider means balancing account fees, investment access, and cash interest. For 2026, Lively HSA markets itself on zero monthly maintenance fees, a major draw for cost-conscious savers. However, the full picture of lively hsa fees investment options 2026 involves digging into its $24 annual brokerage fee, low cash APY tiers, and the 0.50% managed portfolio option. This comparison breaks down those details against a leading competitor to help W2 employees, the self-employed, and financial advisors make a clear choice.
Lively HSA
Lively HSA focuses on eliminating monthly account fees, offering $0 costs for individuals on maintenance, opening, and closing. It provides access to a Schwab self-directed brokerage for a $24 annual fee (waived with a $3,000 cash balance) and a guided portfolio for a 0.50% annual fee.
Fidelity HSA
Fidelity HSA offers a full-featured account with no monthly fees, no minimums, and no fees for its self-directed brokerage account. It typically provides a higher-yield cash option, cited at 3.37% in April 2026, making it strong for savers who keep cash reserves.
| Feature | Lively HSA | Fidelity HSA |
|---|---|---|
| Monthly Account Fee | $0 for individuals/familiesTie | $0Tie |
| Account Opening Fee | $0Tie | $0Tie |
| Account Closing Fee | $0Winner | $25 |
| Cash Account APY (Standard) | 0.12% APY ($10,001+ balance) | ~3.37% (April 2026 example)Winner |
| Self-Directed Brokerage Fee | $24/year, waived if cash >= $3,000 | $0Winner |
| Managed Portfolio Option Fee | 0.50% annually on AUMTie | Available through Fidelity Go for a feeTie |
| Investment Account Minimum | No minimum for brokerageTie | No minimumTie |
| Cash Account Minimum | $0Tie | $0Tie |
| Key Fee Waiver Condition | $3,000 minimum cash balance | No conditions for basic feesWinner |
| Employer Plan Pricing | $0 per employee/month ($200 min)Winner | Contact for pricing |
Our Verdict
The better choice depends on your specific HSA strategy. Lively HSA is best for those who prioritize avoiding monthly fees above all else and can maintain a $3,000 cash balance to waive the brokerage fee. Its lively hsa fees investment options 2026 structure is simple and low-cost.
Best for: Lively HSA
- Individuals and HR managers who want predictable, $0 monthly administrative fees.
- Savers who can comfortably keep $3,000 or more in their HSA cash account for near-term medical needs.
- Those who prefer a simple, modern account interface and a straightforward fee structure.
Best for: Fidelity HSA
- Investors who want to invest their HSA funds immediately without any annual brokerage account fees.
- Savers who keep a significant cash cushion in their HSA and want it to earn a competitive interest rate.
- Financial advisors building integrated retirement and healthcare savings plans for clients, favoring a unified platform.
Pro Tips
- If using Lively, consolidate your annual expected out-of-pocket medical costs and keep that amount in cash to try and hit the $3,000 waiver threshold, investing the rest.
- For families maxing contributions, the low cash yield has a bigger impact. Consider splitting funds: use Lively for the $0 fees but transfer cash periodically to a higher-yield HSA provider, though watch for transfer fees.
- Verify any new eligible expenses like Direct Primary Care (DPC) directly with IRS Publication 502 or a tax advisor, as rules can change and provider summaries may be preliminary.
- HR managers negotiating benefits: Lively's $0 per employee per month fee is attractive, but present the cash yield difference to employees as a trade-off for the low admin cost.
- Self-employed individuals: Calculate if the tax deduction from HSA contributions outweighs the opportunity cost of Lively's low cash yield versus another provider's higher yield.
Frequently Asked Questions
Are there any hidden fees with Lively HSA in 2026?
Lively is transparent about its core fees. There are no monthly, opening, or closing fees for individual and family accounts. The potential costs are an annual $24 fee for the Schwab self-directed brokerage, waived if your Lively cash balance stays at $3,000 or more, and a 0.50% annual fee if you use their guided portfolio investment service. Always review their fee schedule for the most current details.
How does Lively's cash interest rate compare to other HSA providers for 2026?
Lively's standard FDIC cash APY is low, with a top rate of 0.12% for balances over $10,001. Its optional HSA Boost offers up to 0.525% APY. In contrast, providers like Fidelity often offer money market funds as a default cash option, which in April 2026 was cited at 3.37%. This is a material difference for savers who keep significant cash reserves in their HSA for near-term medical expenses.
What happens if my Lively cash balance drops below $3,000?
If the balance in your Lively cash account falls below $3,000, the annual $24 fee for the Schwab self-directed brokerage account is no longer waived. You will be charged this fee, which is prorated and deducted quarterly. This is a key detail for account holders who plan to invest most of their HSA funds and keep a minimal cash buffer.
Can I invest my entire HSA balance with Lively?
Yes, but with a caveat. You must keep a minimum of $1 in your Lively cash account. Beyond that, you can transfer funds to either the Schwab brokerage for self-directed investing or the guided portfolio. Remember, if you invest almost everything and your cash balance dips below $3,000, the $24 annual brokerage fee applies unless your employer's plan covers it.
Is the Lively guided portfolio worth the 0.50% fee?
It depends on your investing knowledge and time. The 0.50% annual fee provides professional portfolio management and rebalancing. For hands-off investors who value a set-it-and-forget-it approach within their HSA, this can be reasonable. However, savvy investors may prefer the self-directed Schwab option to avoid the extra fee and select their own low-cost ETFs, accepting the $24 annual charge unless waived.
How do I avoid the Lively HSA brokerage fee?
You can avoid the $24 annual fee by maintaining a cash balance of $3,000 or more in your Lively account. Alternatively, if your employer sponsors your HSA through Lively and meets the $200 monthly minimum, the fee is typically covered. For individual accounts, strategically keeping your emergency healthcare cash in Lively to hit the $3,000 threshold is the main method.
Should I choose Lively or Fidelity for my HSA in 2026?
The choice hinges on your priorities. Lively wins on pure account fees with $0 monthly costs. Fidelity wins on cash yield and has no account minimums or investment account fees. If you want the highest possible interest on your HSA cash and fee-free investing, Fidelity is stronger. If you absolutely want to avoid any monthly fees and can meet the $3,000 cash threshold, Lively remains a solid, low-cost option.
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