Data as of Oct 18, 2026Based on 358 AI responses from ChatGPT Search and Google AI Mode
Reviewed by Dimitry Apollonsky
AI summary
Fidelity Investments stands out as the best HSA for investing due to its zero-fee structure and lack of minimum balance requirements to begin trading. For those prioritizing a user-friendly interface, Lively is a top alternative that offers robust investment options through an integration with Charles Schwab. These options are favored for allowing investors to start building their portfolios immediately.
Brands AI recommends here
Mentioned inMentioned in · Sep 12 – Sep 28, 2026
ChatGPT SearchSep 28, 2026
If your priority is maximizing long-term investment growth, Fidelity HSA is probably the strongest option to look at first.
| HSA | Investment experience | Fees | Minimum to invest |
|---|---|---|---|
| Fidelity HSA | Broad brokerage access; stocks, ETFs, mutual funds | $0 account fee | $0 |
| Lively + Schwab | Schwab brokerage | $0 with $3,000+ invested; otherwise $24/yr |
Google AI ModeSep 28, 2026
Google AI ModeSep 24, 2026
ChatGPT SearchSep 24, 2026
If your main goal is long-term HSA investing, Fidelity HSA is probably the strongest all-around choice based on current fees and investment flexibility.
Google AI ModeSep 20, 2026
ChatGPT SearchSep 20, 2026
Google AI ModeSep 16, 2026
ChatGPT SearchSep 16, 2026
If your main goal is long-term HSA investing, Fidelity Investments is currently the standout option based on fees and investment flexibility.
Google AI ModeSep 12, 2026
ChatGPT SearchSep 12, 2026
7% of citations to these sources link to brands' own websites.
hsaforamerica.com
Health Savings Account | HSA Investment Options | Fidelity Investments (opens in a new tab)Brand site4%fidelity.com
| $0 |
| Lively + Guided Portfolio | Professionally managed | 0.50%/yr | $0 |
Fidelity currently offers $0 account fees, no investment minimum, and $0 online commissions for U.S. stock/ETF trades. Its HSA also lets you invest in fractional shares and a broad range of investments.
Lively is a legitimate alternative, particularly if you want the Schwab brokerage experience, but its self-directed option costs $24/year below $3,000 invested. Its automated portfolio charges 0.50% annually.
If you're using the HSA as a retirement/investment account—paying current medical expenses out of pocket and letting the HSA compound for decades—I'd focus on:
One important wrinkle: if your employer requires you to use a particular HSA, you can often leave the employer HSA open for payroll contributions and periodically transfer money to Fidelity. Fidelity explicitly supports HSA transfers.
If you tell me (1) your current HSA provider, (2) roughly how much is in it, and (3) whether you plan to invest 100% of it, I can compare the options and show you the likely dollar impact of fees over 10–30 years.
When it comes to investing your Health Savings Account (HSA) for long-term growth, you want a provider that offers zero account fees, no investment thresholds (meaning you can invest every dollar instead of keeping a large cash buffer), and access to low-cost index funds or ETFs.[](https://www.reddit.com/r/Bogleheads/comments/1otpghz/hsa_investing/)
According to financial industry analysis and community consensus, the top contenders stand out for distinct reasons:
If you want to narrow this down, let me know:
Fidelity is widely considered the best HSA account for investing because it charges no monthly account fees , requires no minimum balance to start investing, and charges zero commission on online stock and ETF trades.[](https://www.fidelity.com/investing/hsa)[[2](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)[[3](https://www.bankrate.com/banking/savings/best-health-savings-accounts)](https://www.bankrate.com/banking/savings/best-health-savings-accounts/)
| Provider | Monthly/Annual Fees | Investment Threshold | Investment Choices |
|---|---|---|---|
| Fidelity | $0 | $0 | Stocks, ETFs, Mutual Funds |
| Lively | $0 (Individual) | $0 (via Charles Schwab) | Stocks, ETFs via Schwab |
| HSA Bank | Varies / waived over $7,500 cash |
If you want to narrow this down, let me know:
| HSA | Investing | Fees | Investment minimum | Best fit |
|---|
| Fidelity | Stocks, ETFs, mutual funds | $0 account fee | $0 | Best for DIY investing |
| Lively | Schwab brokerage, ETFs/stocks/funds | $0 above $3k invested; $24/yr below | $0 with annual fee | Good Fidelity alternative |
| Lively Guided | Managed portfolio | 0.50%/yr | $0 | Hands-off investing |
Fidelity currently charges no HSA account fee and no minimum to invest, and gives you access to stocks, ETFs and mutual funds. It also has $0 commissions on U.S. stock and ETF trades.
Lively is particularly interesting if you want a Schwab-powered brokerage HSA. Its self-directed option has no Lively investment fee once you have $3,000 invested; otherwise it's $24/year.
One particularly attractive feature of Fidelity right now is that its default cash position is yielding around 3.4%, while you can invest without maintaining a minimum cash balance.
If you tell me (1) your HSA balance, (2) whether your employer requires you to use a particular HSA, and (3) whether you want index funds or individual stocks, I can compare the best setup for you—including what I'd consider holding inside the HSA.
When it comes to investing, Fidelity is widely considered the undisputed best overall HSA provider.[](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)[[2](https://www.bogleheads.org/forum/viewtopic.php?t=390597)](https://www.bogleheads.org/forum/viewtopic.php?t=390597)[[3](https://www.bogleheads.org/forum/viewtopic.php?t=448409)](https://www.bogleheads.org/forum/viewtopic.php?t=448409)
If your employer doesn't force you to use a specific custodian through a payroll deduction, opening an individual HSA with Fidelity—or doing periodic rollovers from an inferior workplace HSA—is the gold standard.
FZROX).[](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)[[2](https://www.bogleheads.org/forum/viewtopic.php?t=390597)](https://www.bogleheads.org/forum/viewtopic.php?t=448409)Would you like help with:
If your main goal is long-term investing inside an HSA, Fidelity HSA is probably the strongest all-around choice based on current fees, investment flexibility, and ease of use.
| HSA | Investing | Fees | Investment minimum | Best for |
|---|---|---|---|---|
| Fidelity | Stocks, ETFs, mutual funds, fractional shares | $0 account fee | $0 | Long-term investors |
| Lively + Schwab | Stocks, ETFs, mutual funds, bonds | $24/yr below $3k invested; $0 at $3k+ | $0 with $24 fee | People who want Schwab |
| HealthEquity | Self-directed + managed options | Plan-dependent | Often higher | Employer-provided HSA |
| Lively Guided | Managed portfolio | 0.50%/yr | $0 | Hands-off investing |
Fidelity currently allows you to invest with no minimum, charges no HSA account fee, and offers $0 commissions on U.S. stock and ETF trades. Its default cash option is also currently yielding around 3.4%, although that rate can change.
An HSA can be particularly valuable as a long-term investment account because you can get the unusual combination of tax-deductible contributions, tax-free investment growth, and tax-free withdrawals for qualified medical expenses.
For example, if you don't expect to need most of your HSA for current medical expenses, you could:
That can turn the HSA into a substantial supplemental retirement/healthcare asset.
One important wrinkle: if your employer gives you an HSA through another provider, you don't necessarily have to keep your accumulated HSA there. You can generally transfer/roll over HSA money to another provider, although employer payroll contributions may still need to go to the employer's designated HSA. Fidelity specifically supports HSA transfers.
If you tell me (1) your current HSA provider, (2) roughly how much is in it, and (3) whether you're planning to invest it for 10+ years, I can compare the actual costs and show you what I'd consider for the investment setup.
Fidelity is widely considered the best overall HSA account for investing because it charges $0 in account maintenance fees , requires $0 to start investing , and allows you to trade stocks, ETFs, and zero-expense-ratio mutual funds with zero commissions.[](https://www.fidelity.com/investing/hsa)[[2](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)[[3](https://www.bankrate.com/banking/savings/best-health-savings-accounts)](https://www.bankrate.com/banking/savings/best-health-savings-accounts/)
| Provider | Best For | Maintenance Fees | Investment Minimum / Fees | Investment Choices |
|---|---|---|---|---|
| Fidelity | Best Overall | $0 | $0 minimum, $0 trade fees | Stocks, ETFs, Mutual Funds |
| Lively | Runner-Up / Ease of Use | $0 (individual) | $0 minimum (via Charles Schwab) | Schwab broker-assisted / Devenir |
Are you looking for an individual (self-employed/private) HSA or trying to see if your employer's specific HSA provider allows free investing?
| HSA | Investing | Fees | Best for |
|---|---|---|---|
| Fidelity HSA | Stocks, ETFs, mutual funds, fractional shares | $0 account fee; $0 investment minimum | Most investors |
| Lively HSA + Schwab | Stocks, ETFs, mutual funds, bonds | $0 above $3,000 invested; otherwise $24/yr | People who want Schwab |
| Lively Guided Portfolio | Managed portfolio | 0.50%/yr | Hands-off investors |
Fidelity's HSA has no account fees, no minimum to start investing, and $0 commissions on U.S. stock and ETF trades. It also currently puts uninvested cash into a government money-market fund with a yield around 3.4% (rates change).
Lively is a legitimate alternative, particularly if you prefer the Schwab investment interface. Its self-directed option costs $24/year below $3,000 invested and has no Lively investment fee at $3,000+; its automated portfolio charges 0.50% annually.
If you're using the HSA as a retirement/investment account rather than spending it on current medical bills:
If you tell me your current HSA provider, approximate HSA balance, and whether your employer lets you choose the provider, I can compare the exact costs of moving to Fidelity vs. staying put.
When it comes to investing, the gold standard for Health Savings Accounts (HSAs) is an account that charges $0 maintenance fees , has no investment thresholds (allowing you to invest 100% of your balance), and offers access to low-cost index funds, ETFs, or individual stocks. [](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)[[2](https://hsaforamerica.com/blog/best-hsa-account-custodians)](https://www.investopedia.com/the-best-health-savings-account-providers-11687235)
Industry rankings consistently point to the following top options:
To help narrow down the best choice for you, tell me:
If your priority is maximizing long-term investment returns while minimizing fees, I’d pick a Fidelity HSA for most people.
| Feature | Fidelity HSA | Lively HSA |
|---|---|---|
| Account fee | $0 | $0 |
| Investment minimum | $0 | $0 |
| Stocks/ETFs | Yes | Yes, via Schwab |
| Investment access | Fidelity brokerage | Schwab brokerage |
| Investment fee | $0 account fee | $0 with $3k cash balance, otherwise $24/yr |
| Automated investing | Available | Available, but 0.50%/yr |
| Best for | DIY long-term investing | People who specifically want Schwab |
Fidelity currently offers no HSA account fees, no investment minimum, and access to stocks, ETFs, mutual funds, and other investments. It also has a relatively attractive default cash yield compared with several major HSA providers.
Lively is a good alternative, particularly if you want your investments held at Schwab. But its self-directed Schwab option costs $24/year unless you maintain at least $3,000 in the HSA cash balance.
If you can afford to pay medical expenses from regular checking/savings, an HSA can be an unusually powerful retirement investment account:
The HSA's tax treatment is particularly attractive: contributions can be tax-advantaged, investment growth is tax-free, and withdrawals for qualified medical expenses are tax-free. After 65, non-medical withdrawals generally become taxable rather than subject to the additional penalty.
One important caveat: if your employer provides an HSA, check whether you can contribute through payroll and whether the employer charges or subsidizes HSA fees. Payroll contributions can provide additional tax advantages, so blindly moving everything to an individual Fidelity HSA isn't necessarily optimal.
If you tell me (1) your current HSA provider, (2) approximate HSA balance, (3) whether your employer contributes, and (4) whether you're investing for 5, 10, or 20+ years, I can compare Fidelity vs. your current HSA and tell you whether I'd move it.
| Varies by tier |
| Mutual funds, ETFs |
| Employer-Sponsored / Advisory |
| Varies (often monthly/admin fees) |
| $500 cash threshold before investing |
| Mutual funds, Advisor tools |