How to fidelity hsa vs lively hsa comparison 2026 (2026) |

Determine if you prefer a self-directed approach, actively managing your investments, or if you'd rather use a guided portfolio. Fidelity offers both self-directed and managed accounts, while Lively provides full Charles Schwab brokerage access and Devenir guided portfolios. Your comfort with selecting stocks, ETFs, or mutual funds will guide this choice.

While both Fidelity and Lively offer $0 annual maintenance fees, other fees can accumulate. Fidelity has a $25 account closing fee, whereas Lively charges $0. Investment-related fees also vary significantly. Understand how often you might transfer funds, close accounts, or if your investment balance might trigger specific fees, like Lively's $24/year fee for Schwab cash balances below $3,000.

Think about how you'll interact with your HSA. Do you need a modern mobile app for easy receipt tracking and reimbursements, like Lively's AI agent feature? Will you require streamlined employer payroll integrations, which Lively emphasizes with dedicated Customer Success Managers? Your day-to-day use cases should influence your provider choice.

Both Fidelity and Lively lead the market by offering $0 annual maintenance fees. This is a significant benefit, as many other providers still charge monthly or annual fees. Additionally, both providers charge $0 for transferring funds out of your HSA, making it easy to move your account if your needs change in the future. This fee structure makes both highly attractive for basic account upkeep.

A notable difference emerges when considering account closing fees. Fidelity charges a $25 fee to close an HSA account. In contrast, Lively charges $0 for closing an account, offering more flexibility if you decide to consolidate your HSAs or switch providers entirely without incurring an exit cost. This can be a minor factor but is worth noting for long-term planning.

Fidelity requires a minimum of $10 to invest, but has no minimum balance for the cash portion. Lively has no minimum balance requirement for the HSA itself. However, for Lively, if you choose to invest through Charles Schwab, there is a $24/year fee if your cash balance falls below $3,000. Additionally, Lively's Devenir guided portfolio option carries an annual fee of 0.5%.

Fidelity offers a self-directed brokerage account, giving you direct control over a wide array of investment choices, along with managed account options for those who prefer professional guidance. Lively provides full access to the Charles Schwab brokerage platform, boasting over 13,000 individual stocks, ETFs, and mutual funds.

Fidelity offers both self-directed and managed accounts, catering to different investor types. Lively also provides flexibility with its full Schwab access for self-directed investing, alongside Devenir guided portfolios. The Devenir option is ideal for those who want their investments professionally managed based on their risk profile, without needing to make individual investment decisions.

The interest rates for uninvested cash can also impact your HSA's growth. While Fidelity's interest rates were not specified in the research, Lively offers FDIC-insured cash accounts with tiered APY rates. Their highest tier, for balances over $10,000, earns 0.12%. For smaller balances, the APY starts at 0.01%. This transparency allows you to anticipate earnings on your liquid funds.

Fidelity is highly rated by HSA experts, recognized for its comprehensive financial services and pioneering move to eliminate annual fees. Lively, conversely, receives higher ratings from actual users, indicating strong customer satisfaction with its platform, ease of use, and dedicated HSA focus.

Lively focuses exclusively on HSAs, which allows for specialized development and a modern mobile app experience, including an AI agent for key tasks. This dedicated approach often translates into a more streamlined and user-friendly platform tailored specifically for healthcare savings. Fidelity, while a financial giant, offers HSAs as one of many services.

While both providers offer essential features like debit cards, mobile apps, receipt tracking, and reimbursement tools, Lively stands out with its streamlined employer payroll/HRIS integrations. They also provide dedicated Customer Success Managers for employers, which can be a significant advantage for HR benefits managers seeking to simplify HSA administration for their workforce.

List your top three to five priorities for an HSA. Is it the lowest possible investment fees, the widest range of investment options, the most user-friendly mobile app, or strong employer support? Fidelity generally appeals to those who value a trusted financial institution with broad investment choices, while Lively attracts users who appreciate a modern, HSA-focused platform with transparent

Even with a general comparison, always review the most current terms and conditions directly from Fidelity and Lively. Fee schedules, investment options, and specific features can evolve. Pay close attention to any disclosures regarding investment minimums, maintenance fees tied to specific investment accounts, or potential charges for specific transactions.

Think about your HSA not just for the upcoming year, but as a long-term retirement healthcare savings vehicle. A provider that offers robust investment growth potential and aligns with your financial planning goals will serve you better over decades.