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HSA Fee Comparison

HealthSavings is proud to offer a simple, transparent fee structure that makes us the clear choice as an investment-focused HSA partner. In addition, HealthSavings’ average expense ratio is 75% lower than industry average.

Not counting market swings, fund expense ratios are likely to have the largest impact on investment returns over the life of an account. By choosing from our carefully curated selection of low-cost, institutional-class funds, HealthSavings accountholders have historically saved five times more than the industry average.

Provider NameAnnual Maintenance FeeAnnual Investment FeeInvestment ThresholdOpportunity Cost*Total Fees (for $16,000 investment)Average Expense RatioExpense Ratio Cost for $16,000 InvestmentTotal Fees + Expense Ratio Cost
HealthSavings Administrators$450.25%$0$0$850.12%$19$104
HSA Authority$0$36$1,000$59$950.30%$48$143
Further$12$18$1,000$59$890.39%$62$151
Bank of America$54$0$1,000$59$1130.46%$74$187
UMB Bank$35$36$1,000$59$1300.34%$54$184
BenefitWallet$42$34.80$1,000$59$1360.31%$50$186
HSA Bank$300.45%$1,000$59$1610.32%$51$212
Fifth Third$36$24 + 0.20%$2,000$115$2071.39%$222$429
Optum Bank$330.36%$2,000$119$2100.29%$46$256
HealthEquity$470.40%$2,000$119$2300.09%$14$244

* Many HSA providers require accountholders to keep a minimum balance in their cash account before they can invest additional funds. However, keeping funds in a low-interest cash account means accountholders miss out on those funds’ potential investment returns; this is known as opportunity cost.

These calculations assume a 6% market return and use the applicable cash account interest rate for each HSA provider.