Fidelity HSA review

Fidelity ranks first because it removes the two costs that eat into small HSAs: account fees and investment minimums. Its HSA page states zero account fees and zero account minimums for Fidelity HSAs opened through Fidelity.com, for individuals and employers. Inside the account you can buy stocks, including fractional shares, ETFs and mutual funds, and Fidelity does not require a minimum to start investing. If you would rather not choose, Fidelity Go picks and rebalances a portfolio, lets you invest with as little as $10, and charges a $0 advisory fee on balances under $25K, then 0.35% a year. Uninvested cash goes into the Fidelity Government Cash Reserves money market fund by default, and Fidelity's own footnote points out that money market funds lack the FDIC protection of bank sweep accounts. You pay qualified expenses with an HSA debit card or reimburse yourself. The trade-off is that payroll contributions only flow here if your employer uses Fidelity, so many people keep a work HSA and transfer to Fidelity periodically.

Who it is for

most people who want to invest their HSA at the lowest cost

Price

$0 account fees and $0 minimum; Fidelity Go charges $0 under $25K, then 0.35% a year.

There are zero account fees and zero account minimums for Fidelity HSAs
Quoted from the vendor pricing page on November 13, 2026.

Key features

• Zero account fees and zero account minimums for Fidelity HSAs opened through Fidelity.com
• Invest in stocks including fractional shares, ETFs and mutual funds
• Fidelity Go HSA: $0 advisory fee under $25K, 0.35% at $25K and up, invest from $10
• Uninvested cash goes into Fidelity Government Cash Reserves unless you choose another option
• HSA debit card for qualified medical expenses

Strengths and weaknesses

• Strength: No minimum to start investing in the self-directed HSA
• Strength: Managed option that is free for balances under $25K
• Strength: Open as an individual even if your employer uses another provider
• Weakness: Default cash sits in a money market fund, which has no FDIC protection
• Weakness: Fidelity Go rises to 0.35% a year once the balance reaches $25K
• Weakness: Some funds and trades can still carry commissions or fund expenses

Key facts

• Account fee: $0
• Minimum to invest: $0
• Managed option: Fidelity Go, $0 under $25K, 0.35% at $25K+
• Default cash: Fidelity Government Cash Reserves money market fund

Where it ranks

Fidelity HSA is No. 1 in our Best HSA Providers verdict.