Health Savings Accounts (HSAs) are one of the best ways to save on taxes while covering medical expenses. You put in pre-tax money, spend it on qualified healthcare costs, and never pay taxes on it. Plus, you can invest the funds and grow them over time, making an HSA a solid retirement tool.
HSAs are more popular than ever, with over 45 million accounts holding more than $170 billion in assets in 2025. But with so many options out there, choosing the right one can be confusing—especially when deciding whether to go with your employer’s plan or open one yourself.
We’re breaking down the best HSA accounts available today—the ones with the lowest fees, best investment options, and easiest access to your money, so you know exactly what you're getting.
No fluff, no gimmicks—just the best HSAs for 2025 and how to make them work for you. Let’s get into it.
7 Best Health Savings Accounts
These HSAs are some of the best you can find if you’re looking for a way to save money and pay for medical expenses. Compare them to find the best health savings account for you and your family.
1. Lively
If you’re looking for an HSA with no maintenance fees and solid investment options, Lively is one of the best choices out there. It’s easy to set up, fully online, and comes with a free debit card for medical expenses. Unlike other providers, Lively doesn’t nickel and dime you—account holders have collectively saved over $23 million in fees, and that number keeps growing.
There are no hidden fees for basic account maintenance, transfers, or debit card use. The platform is user-friendly, with a mobile app that makes tracking expenses and storing receipts simple. Customer satisfaction with Lively is 3-4 times higher than the industry average, and it retains over 98% of the employers that choose it, which says a lot about its reliability.
If you’re looking to invest your HSA funds, here you can invest in nearly any available ETF, mutual fund, or stock.
Bottom line? If you want an easy-to-use, fee-free HSA with a strong reputation, Lively is a top contender.
2. Fidelity
Fidelity is one of the more well-known investment firms and ranks among the best brokerages you can work with. It also offers exceptional health savings accounts to prepare for medical expenses and retirement.
Founded in 1946, Fidelity makes it easy to open and fund an account online. There are no monthly fees or minimum balance requirements to meet.
Fidelity also offers a debit card with this account, which has no fees attached. You can also fund your HSA with your bank account or a mobile check deposit.
When you invest in an HSA with Fidelity, you’re also eligible to invest in the Fidelity Health Savings Fund and the Fidelity Health Savings Index Fund. These funds are otherwise not available to investors.
Fidelity lets you invest in bonds, mutual funds, stocks, ETFs, and fractional shares. You can also use Fidelity BillPay for your medical expenses.
Fees vary depending on which investment you choose. Some come with high expense ratios, so it’s worth looking into specifics if you want to invest in a particular asset.
3. Further
As you’ll see with many HSAs on our list, Further comes with a mobile app and a debit card to pay for your healthcare expenses. HealthEquity recently acquired Further in 2021.
With Further, employers can oversee several employee accounts, from transportation reimbursement accounts (TRAs) and dependent care assistance programs (DCAPs) to flexible spending and health savings accounts. Once employees reach a balance of $1,000 or more, they can invest through Charles Schwab.
Interest rates at Further hover around 0.7%. Underlying fees will vary, but there is an $18 per-year investment account fee.
4. HealthEquity
You shouldn’t have to choose if you want to save for retirement or a house. Instead, you can work with HealthEquity to save money for healthcare expenses and retirement, all in one go.
HealthEquity was founded in 2002 and offers 24/7 account support for all its members. The easy-to-use mobile app makes contributing to your HSA and investing a cinch.
Whether you use the app or the HealthEquity website, you can easily create an account in half an hour or less. You can also invest in Vanguard funds with affordable expense ratios.
HealthEquity doesn’t charge any account management fees and doesn’t require a minimum investment, depending on which account you choose. Some HealthEquity HSA accounts have a $36 annual fee, and the underlying fee for Vanguard funds is 0.1%.
You’re also responsible for a 0.25% annual investment fee. However, HealthEquity does award you a free debit card to pay for your medical expenses.
Many members love the mobile app because it lets you view your spending and submitted claims. The website and app also feature several videos and webinars you can use to learn more about HSAs and related subjects.
5. HSA Bank
HSA Bank is another HSA broker that makes signing up and funding your account easy. It’s also known for providing mutual funds investment opportunities for those who want to prepare for retirement.
You can invest with Devenir or TD Ameritrade through HSA Bank, depending on your preference. You can invest in bonds, mutual funds, stocks, ETFs, etc.
HSA Bank doesn’t require any minimum investments to get started. This HSA provider also offers flexible spending accounts and other reimbursement arrangements.
Fees vary depending on which investment opportunities you take advantage of. You won’t pay an account management fee if you have at least $3,000 in your HSA, but you’ll pay $2.25 per month if you don't.
You may incur an investment fee if you have $5,000 or less in your account. There is also a $25 fee to close your account.
You can download the HSA Bank mobile app if you’d like to access 24/7 client assistance that way. You can also navigate directly to the HSA Bank website.
6. Starship
Starship makes it easy to create and fund your new health savings account. You can go online or download the mobile app to begin your Starship journey.
Investing is easy with the mobile app, which lets you choose your investments and contributions with a few clicks. You can also direct your portfolio or delegate the task to a robo-advisor.
Starship HSAs come with no monthly costs or account minimums. If you have less than $5,000 in your account, you’ll pay $1 monthly to invest.
If you have more than $5,000 in your account, you’ll be subject to a 0.35% fee. Starship only offers three pre-built portfolios specializing in ETFs, so the investments are somewhat limited.
7. The HSA Authority
HSAs from the HSA Authority don’t require a minimum balance but come with a $36 annual fee. Account holders will also receive a free Visa debit card to use when paying for medical expenses.
The HSA Authority also allows you to invest in mutual funds through Devenir. Expense ratios will depend on your investment option, but The HSA Authority makes it easy to open an account online.
The HSA Authority does not currently support a mobile app. However, parents can easily oversee their spending and contribute with an online account.
How to Find the Best HSAs
If you're self-employed, health insurance can be challenging to find, and HSAs even more so. When you’re comparing several HSA plans, consider the following:
- The company’s reputation, including history and customer service experience
- Fees, which may include monthly, annual, account management, debit card, or advisor/investment
- Minimum deposit requirements
- Website versus mobile app
- Ease of use
- Self-directed or robo-advisor investments
- Availability of debit cards to pay for expenses
Narrowing down your results to those that best fit your needs can help you find an HSA quickly. This gives you more time to contribute to the account and save for retirement.
What is an HSA
A health savings account is a tax-advantaged account that you can use to pay for medical and dental expenses. “Tax-advantaged” simply means that you can pay for these types of expenses with pre-tax dollars.
When it comes to reducing healthcare costs, health savings accounts are huge. You can easily add an HSA to your list of retirement strategies.
You can open a health savings account through your employer or alone if you're eligible. Eligibility depends on how high your deductible is.
Individuals with deductibles over $1,500 and families with deductibles over $3,000 are eligible. Plans that are classified as high-deductible health plans (HDHPs) are nearly always eligible.
Unlike flexible spending accounts (FSAs), HSA funds roll over from one year to the next. You can also use your HSA funds to invest for retirement.
Contributions to your HSA are limited to $3,850 for individuals and $7,750 for families. These numbers fluctuate yearly, so paying attention to established limits is important to maximize your HSA.
Qualified Medical Expenses
Health savings accounts will require that you pay and submit claims for specific medical expenses. Knowing which expenses qualify can be difficult if you don’t read the fine print.
Examples of qualified medical expenses include:
- Eyeglasses
- Prescriptions
- Dentures
- Contact lenses
- Copays
- Addiction treatments
- Hearing aids
- Chiropractic care
- Ambulance services
- Fertility treatments
- OTC medications
- Specific medical devices and equipment
Review your list of qualified medical expenses before deciding on an HSA. It could mean the difference between covering your costs and wasting your time.
FAQs
Flexible spending accounts (FSAs) and health spending accounts (HSAs) allow you to pay for medical expenses from a tax-advantaged account. However, FSA funds do not transfer over from one year to the next as HSA funds do.
The best HSAs take less money from you but give you more opportunities to spend and make money to your advantage. For example, a superior HSA doesn’t charge you a monthly maintenance fee and gives you access to investments in stocks, bonds, ETFs, mutual funds, etc.
HSAs from Lively and Fidelity don’t charge monthly fees. However, you may be subject to additional fees based on your chosen investments.
One of the biggest downsides to health spending accounts is that you will pay the penalty if you withdraw your money early for non-medical expenses. You’ll pay an immediate 20% fee and any income taxes on that amount when you withdraw the money.
Finding the Perfect HSA for You and Your Family
Whether you live alone or have a family, paying for medical expenses can be hard on any budget. With a health savings account, you can save for costly medical expenses and retirement in one fell swoop.
We hope this article has helped you find ways to use an HSA to your advantage. There are many HSAs to choose from, each incorporating several perks to earn your business.
Whether or not you choose an HSA provider from our list above, you’ll at least know what’s out there. You can also compare your favorite HSA plans to those you might find through your own research.
Now that you know more about HSAs, which one will you choose? The good news is that if you’ve decided on one of the HSAs above, you will surely get a great deal.
How can an HSA help you pay for medical expenses?
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