Question 1

Is the Lively HSA really free for individuals?

Accepted Answer

Yes, the core Lively HSA account for individuals and families is free. Their official support page states, 'For individuals and families, our HSA account is free.' This means there is no monthly maintenance fee, no account opening fee, and no account closing fee. You also will not pay for funds transfers in or out, debit cards (up to three), point-of-sale transactions, or reimbursement requests. This makes the basic cash account a true $0 monthly fee option.

Question 2

What are the optional fees with a Lively HSA?

Accepted Answer

While the base account is free, Lively offers optional investing features that have costs. Accessing the Schwab Health Savings Brokerage Account for self-directed investing costs $24 per year. This fee is waived if you maintain a minimum cash balance of $3,000 in your core HSA. Alternatively, you can opt for their managed HSA Guided Portfolio, which carries an annual advisory fee of 0.50% of your invested balance. These are the only recurring costs for individual account holders.

Question 3

How does Lively's pricing work for employer-sponsored plans?

Accepted Answer

Pricing is different for businesses that offer Lively as a benefit. Lively's public pricing page lists $0.00 PEPM (Per Employee Per Month) but notes this is 'Subject to a $200 monthly minimum.' Their support article and employer PDF clarify that businesses typically pay $2.95 per enrolled employee per month. Importantly, the basic HSA remains free for the employees themselves. HR benefits managers should review the employer-specific contracts for exact pricing.

Question 4

Are there any minimum balance requirements for a Lively HSA?

Accepted Answer

There is no minimum balance required to open or maintain the standard Lively HSA cash account. You can have $1 in the account and still pay $0 in monthly fees. The $3,000 minimum balance condition applies only if you want to qualify for the waiver of the $24 annual fee for the optional Schwab brokerage account. Without that balance, you would pay the $24 yearly fee for the investing feature.

Question 5

How do Lively's fees compare to other major HSA providers like Fidelity?

Accepted Answer

Lively and Fidelity both offer HSA accounts with $0 monthly fees for individuals, making them top choices for cost-conscious savers. In contrast, some providers like HSA Bank may charge a $2.50 monthly maintenance fee, which is often waived if you maintain a higher minimum balance (e.g., $5,000). When comparing, look beyond monthly fees to transaction costs, investment options, and any hidden charges for services like paper statements or excess contributions.

Question 6

What should I verify before opening a Lively HSA account?

Accepted Answer

Before opening an account, you should decide if you need just the free cash-only HSA or the optional investing features. If you plan to invest your HSA funds for long-term growth, understand the $24 annual brokerage fee or the 0.50% managed portfolio fee. Also, confirm your eligibility: you must be covered by a qualified High-Deductible Health Plan (HDHP).

Question 7

Does Lively charge fees for using my HSA debit card or getting reimbursed?

Accepted Answer

No. Lively's official fee schedule lists $0 for debit cards (you can request up to three) and $0 for point-of-sale fees. They also charge $0 for reimbursement fees, whether you submit a receipt manually or use their direct pay feature. This is a significant advantage over some older providers that charge per transaction, as it allows for seamless payment at doctors' offices, pharmacies, and other eligible healthcare merchants.

Question 8

What does the $0 monthly fee for Lively HSA actually include?

Accepted Answer

The $0 monthly fee covers all core account services: monthly maintenance, opening the account, closing the account, transferring funds in or out, issuing up to three debit cards, point-of-sale transactions, and processing reimbursements. There is also no fee for excess contributions, which is a common charge with some other providers.

Question 9

Is there a catch to the 'no monthly fee' offer?

Accepted Answer

There is no catch for the basic cash account. The offer is legitimate and clearly listed on Lively's official pricing page. The only potential costs come from optional services you choose to add, specifically the investment features. The core HSA is designed to be free for life for individual and family account holders.

Question 10

Do I pay any fees if I only use my Lively HSA to save cash?

Accepted Answer

If you use your Lively HSA solely as a savings account for future healthcare expenses, you will pay $0 in fees. There are no monthly fees, minimum balance fees, or transaction fees for using the debit card or getting reimbursed. Your entire balance grows tax-free, and you keep 100% of the interest earned.

Question 11

How much does the Lively HSA Guided Portfolio cost?

Accepted Answer

The Lively HSA Guided Portfolio, a managed investment option, costs 0.50% annually on your invested balance. This fee is for professional portfolio management and is deducted from your investment account. It is separate from the free cash account and is an alternative to the self-directed Schwab brokerage account.

Question 12

Are there any one-time setup or account closure fees?

Accepted Answer

No. Lively explicitly lists $0 for account opening and $0 for account closing. This means you can open an account to test it out or move your existing HSA to Lively without an upfront cost, and you can also leave the platform later without being charged a termination fee.

Question 13

What are the HSA contribution limits for 2026?

Accepted Answer

For the 2026 tax year, the HSA contribution limits are $4,300 for individuals with self-only HDHP coverage and $8,550 for individuals with family HDHP coverage. These limits are set by the IRS and are subject to annual adjustments for inflation. It is critical to use these official numbers for your tax planning.

Question 14

How does the age 55+ catch-up contribution work?

Accepted Answer

If you are age 55 or older at any point during the tax year, you can contribute an extra $1,000 to your HSA above the standard limit. This is a per-person allowance. For a married couple where both spouses are 55+, each can contribute an extra $1,000 to their own individual HSA accounts.

Question 15

What happens if I over-contribute to my Lively HSA?

Accepted Answer

Lively charges a $0 fee for excess contributions, which is a benefit. However, the IRS penalty for excess contributions is 6% per year on the excess amount until it is corrected. You must remove the excess funds and any earnings on them before your tax filing deadline to avoid this penalty. Lively's support can help with the removal process.

Question 16

Can I contribute to an HSA if my employer also contributes?

Accepted Answer

Yes, but the total of all contributions-from you, your employer, and anyone else-cannot exceed the annual limit for your coverage type (self-only or family). For example, if your employer contributes $1,000 to your family-coverage HSA in 2026, your maximum personal contribution would be $7,550 ($8,550 - $1,000).

Question 17

When is the deadline to make HSA contributions for a tax year?

Accepted Answer

The deadline to make HSA contributions for a given tax year is typically the federal tax filing deadline, usually around April 15 of the following year. For the 2026 tax year, contributions can be made until approximately April 15, 2027. Lively allows you to designate contributions for the prior year during this period.

Question 18

Is Lively or Fidelity better for a free HSA?

Accepted Answer

Both Lively and Fidelity offer $0 monthly fees for individuals, making them excellent free options. The choice often comes down to investment preferences. Fidelity offers a fully integrated brokerage with a vast array of investment choices at no extra account fee. Lively offers a simple cash account for free and charges $24/year for its Schwab brokerage link, waived with a $3,000 cash balance.

Question 19

How does Lively's investment platform compare to others?

Accepted Answer

Lively's investment platform is a partnership with Charles Schwab, offering a robust selection of ETFs and mutual funds. The $24 annual fee (or waiver) is competitive. Some providers, like Fidelity, charge no such fee. Others, like HSA Bank, may require a linked TD Ameritrade account with its own fee structure. Evaluate based on your desired investment mix and cost tolerance.

Question 20

Which provider is best for someone who doesn't want to invest?

Accepted Answer

For someone who wants to use an HSA solely as a savings account for near-term medical expenses, Lively is a top contender due to its completely free cash account. Fidelity is equally free. Choose based on which user interface you prefer, customer service reviews, and any additional features like mobile check deposit or integration with other financial apps.

Question 21

Do any HSA providers charge monthly fees anymore?

Accepted Answer

Yes, several established providers still charge monthly maintenance fees, often in the $2.50 to $4.00 range. These fees are usually waived if you maintain a certain minimum balance, often between $3,000 and $5,000. The trend, led by providers like Lively and Fidelity, is toward eliminating these fees entirely to attract customers.

Question 22

Should I move my old HSA to Lively?

Accepted Answer

Moving an old HSA to Lively can make sense if you are paying monthly fees at your current provider and Lively's free structure saves you money. Before initiating a transfer, confirm that Lively will not charge a transfer fee (they don't) and check if your current provider charges an outgoing transfer or account closure fee. Also, consider the investment options if your balance is large.

lively hsa fees no monthly fee official: Your Questions Answered

Understanding Lively's Fee Structure

HSA Contribution Limits and Rules

Comparing Lively with Other HSA Providers

Summary

Pro Tips

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