The HSA Report Card

Avidia Bank S

Avidia Bank


Avidia Health is a division of Avidia Bank, a bank in Hudson, Mass. Despite originating as a community bank, Avidia Health operates and has HSA accounts in all 50 states. Avidia services more than 120,000 accounts and holds $200 million in HSA deposits. For someone looking for a no-fee HSA provider that still offers various features, Avidia is it.



Report Card for Avidia Bank

as a Spending Vehicle



Fund Access








Standard Plan Fees (Non-Employer Group)

The best HSAs for spenders are characterized by low maintenance fees. Avidia Health does not charge a monthly maintenance fee.

The best HSAs for spenders also have very few additional fees that are layered on top of the maintenance fee. These fees are not recurring in nature, but can be incurred account holders when they undertakes a certain action. Avidia Health’s fee schedule has a moderate amount of additional fees.

Below we have reconstructed their fee schedule to exhibit fees spenders are most likely to encounter.

Avidia Fee Schedule
  • Monthly Fees

  • Maintenance$0

  • Investment$2.50

  • 1Paper Statements1.25

  • Behavioral Fees

  • Excess Contribution$0

  • Overdraft$30

  • Stop Payment$25

  • Point of Sale$0

  • ATM Withdrawal$0

  • Check Distrtibution$0

  • Outgoing Rollover$25

  • Outgoing Transfer$25

  • Closing$0

  • Order of 25 Checks$8

  • Replacement Card$0

1 Free electronic statements


In the chart below you can compare Avidia Bank's fees to those of its competitors. 

Highcharts Tutorial



When you, your spouse, and your dependents have qualified medical expenses that aren’t covered by your health care plan, you can use your HSA money tax-free to pay for them. There are multiple ways you can spend from your HSA.

(✔) Debit Card

You can use an Avidia Bank HSA debit card to pay for all your eligible medical expenses.

(✔) Bill Pay

If you have enrolled for internet and/or mobile banking with the bill payment feature, you can use either access channel to conveniently pay eligible medical expenses.

(✔) Checks

Avidia Bank HSA checks are also a convenient way to pay for eligible medical expenses. You can also use them to reimburse yourself for medical expenses paid out-of-pocket. Paper checks are $8.


You can pay for qualified medical expenses out-of-pocket and reimburse yourself anytime using your HSA money. As long as you opened your HSA before the expense was incurred, your reimbursement will be tax-free. You can:

(✔) Transfers

You can use the Bill Pay feature to make internal or external transfers to reimburse yourself for medical expenses paid out-of-pocket.

(✔) ATM Withdrawls

ATM withdrawals are available at Avidia Bank branches.

(✔) Checks

You can use your Avidia HSA checks to reimburse yourself for medical expenses paid out-of-pocket. Paper checks are $8.




Online Banking

Online Banking gives you unparalleled freedom when it comes to managing your HSA. With Internet banking, you can check your account activity, transfer funds, pay bills, receive your statements electronically, and set up alerts.

Avidia Mobile.png

Mobile Banking

Your Avidia Health HSA is as close as your mobile phone so you can securely view balances and activity as well as receive account alerts.

  • Mobile Scanning: Scan a product barcode at the store to see if the item is HSA eligible.

  • Account Information: View your contribution amounts, investments, transactions and previous years’ HSA information.

  • My Expenses: Examine your individual claims, including when you received service, who provided it and the amount you’re responsible for.

  • Account Information: View your contribution amounts, investments, transactions and previous years’ HSA information.

eClaims Manager

Fully integrated and HIPPA compliant solution that enables participants to automatically manage healthcare expenses in one place.  The eClaims management service empowers you to use your insurance EOB data with your HSA account. Once your account is linked, all newly received claims will be automatically displayed in the eClaims manager. Once your insurance account is linked, your EOB data will start populating automatically. The eClaims manager allows you to request reimbursement using the "$" icon next to the expense. Also track progress to your deductible and store receipts.


Pros & Cons

  • No maintenance fees

  • Multiple reimbursement methods

  • Receipt storage tool

  • Mobile app
  • Potential to eventually “run into” a few non-recurring fees


Which participants are best suited for an Avidia Health HSA?

  • Participants looking for a fee-free, feature rich HSA offering.

  • Dual-purpose use (spender/investor). Avidia Health also offers a decent pre-selected investment lineup.

  • Participants with a family HSA.


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