HealthEquity HSA review

HealthEquity is the HSA many people get through work, and it says it is the largest HSA provider, with 9.9 million+ HSA members and 50,000+ organizations. For investors it offers 33 low-cost Vanguard mutual funds, automatic investing of new contributions, rebalancing, and personalized guidance from HealthEquity Advisors. Support is available by call or chat at any hour. The weak spot for individual savers is pricing. HealthEquity's help center says it may charge a monthly administration fee that varies by plan, that the fee may be waived if you keep a cash balance over $2,500, and that it can change if you leave your employer or switch health plans. That is why its value score trails the providers with published $0 fees. If your employer pays the fee and sends payroll contributions here, HealthEquity is a solid home for the money. If you leave that job, compare the fee on your statement with a move to Fidelity or Lively.

Who it is for

employees whose company already offers HealthEquity

Price

See vendor pricing (USD check pending).

US price check pending. See the vendor pricing page.

Key features

• Choice of 33 low-cost Vanguard mutual funds
• Automatic investing of contributions and portfolio rebalancing
• Personalized guidance from HealthEquity Advisors
• 24/7 member support by phone or chat
• Monthly administration fee may be waived with a cash balance over $2,500

Strengths and weaknesses

• Strength: Large Vanguard fund lineup inside the HSA
• Strength: 24/7 call and chat support
• Strength: Fees are often paid by the employer that sets up the plan
• Weakness: Administration fee varies by plan and is not published as one number
• Weakness: Fee may change if you leave your employer or switch health plans
• Weakness: Built around employer plans rather than individual sign-ups

Key facts

• HSA members: 9.9 million+
• Fund lineup: 33 Vanguard mutual funds
• Fee waiver: May be waived over $2,500 cash balance
• Support: 24/7 call or chat

Where it ranks

HealthEquity HSA is No. 4 in our Best HSA Providers verdict.