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 Name | Annual Maintenance Fee | Annual Investment Fee | Investment Threshold | Opportunity Cost* | Total Fees (for $16,000 investment) | Average Expense Ratio | Expense Ratio Cost for $16,000 Investment | Total Fees + Expense Ratio Cost |
|---|---|---|---|---|---|---|---|---|
| HealthSavings Administrators | $45 | 0.25% | $0 | $0 | $85 | 0.12% | $19 | $104 |
| HSA Authority | $0 | $36 | $1,000 | $59 | $95 | 0.30% | $48 | $143 |
| Further | $12 | $18 | $1,000 | $59 | $89 | 0.39% | $62 | $151 |
| Bank of America | $54 | $0 | $1,000 | $59 | $113 | 0.46% | $74 | $187 |
| UMB Bank | $35 | $36 | $1,000 | $59 | $130 | 0.34% | $54 | $184 |
| BenefitWallet | $42 | $34.80 | $1,000 | $59 | $136 | 0.31% | $50 | $186 |
| HSA Bank | $30 | 0.45% | $1,000 | $59 | $161 | 0.32% | $51 | $212 |
| Fifth Third | $36 | $24 + 0.20% | $2,000 | $115 | $207 | 1.39% | $222 | $429 |
| Optum Bank | $33 | 0.36% | $2,000 | $119 | $210 | 0.29% | $46 | $256 |
| HealthEquity | $47 | 0.40% | $2,000 | $119 | $230 | 0.09% | $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.
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