10 Largest HSA Providers: A Comprehensive Overview

A Health Savings Account (HSA) is an excellent tool for saving for future healthcare expenses while enjoying tax benefits. There are numerous HSA providers in the market, and choosing the right one can be a challenge. In this post, we will delve into the top 10 largest HSA providers, offering a detailed analysis of each to help you make an informed choice. We’ll also address some common questions about HSAs.

Largest HSA Providers

A Snapshot of the 10 Largest HSA Providers

Here is a quick overview of the ten largest HSA providers:

  1. Fidelity Investments
  2. HSA Bank
  3. Lively HSA
  4. Optum Bank
  5. Further HSA
  6. Bank of America
  7. The HSA Authority
  8. HealthEquity
  9. BenefitWallet
  10. UMB Bank HSA

Digging Deeper: A Closer Look at the Largest HSA Providers

Below, we delve deeper into each of these providers, discussing their unique offerings and why they stand out:

Fidelity Investments

Fidelity offers a comprehensive HSA with no fees, robust investment options, and excellent customer service, making it an excellent choice for both individuals and employers.

HSA Bank

HSA Bank provides a comprehensive suite of offerings including debit cards, checks, and online banking. It has a low monthly fee and offers investment options with a certain minimum balance.

Lively HSA

Lively HSA offers a free HSA for individuals with an easy-to-use platform, no hidden fees, and an option to invest in any publicly traded security.

Optum Bank

Optum Bank is known for its strong customer service, a wide range of investment options, and tools and resources to help users make informed decisions about health savings.

Further HSA

Further offers a variety of HSA plans to meet different needs, including high-deductible plans. It also provides a range of resources to help users understand and manage their accounts effectively.

Bank of America

Bank of America’s HSA stands out for its broad investment options, robust online platform, and extensive customer support.

The HSA Authority

The HSA Authority offers HSAs with no setup or transaction fees and provides an intuitive online platform and mobile app for easy account management.


HealthEquity is notable for its 24/7 customer service, educational resources, and flexible investment options.


BenefitWallet offers an easy-to-use platform, competitive fees, and a variety of tools and resources to help account holders make the most of their HSAs.


UMB Bank offers HSAs with a tiered interest rate structure, a user-friendly online platform, and a dedicated team of HSA specialists for customer support.

People Also Ask

How Do I Choose the Best HSA Provider?

The best HSA provider depends on your specific needs,

considering factors like fees, investment options, interest rates, and customer service. Review the details of each provider, compare, and select the one that best aligns with your financial goals.

Can I Switch My HSA Provider?

Yes, you can switch your HSA provider if you’re not satisfied with their service or find a better option. Ensure to check if there are any fees associated with transferring your account.

Do All HSA Providers Offer Investment Options?

Most HSA providers offer investment options, but the availability and type of investments may vary between providers. It’s important to check the investment options available before choosing an HSA provider.


Choosing an HSA provider is a crucial decision that requires careful consideration of various factors. The top ten providers listed above are some of the largest and most reputable in the industry. However, it’s essential to evaluate each based on your individual needs and financial goals.

See also: 10 Largest 401k Providers by Assets (2023)