The HSA Report Card


The Best HSAs for Spenders


Criteria for Evaluating HSA Plans

as a Spending Vehicle

The following list of HSA providers is for HSA spenders. These account holders treat their HSAs as pseudo checking accounts, paying for health care expenses as they occur. When evaluating HSAs as a spending vehicle we focused primarily on the following:

  • Fees

  • Ease of access to funds (payment and reimbursement)

  • Features that make it easy for spenders to manage all aspects of their HSA



When you open an HSA, you are subject to a long list of potential fees, especially as an HSA spender. The majority of HSA spenders are subject to the following fees:

  • Maintenance / Administrative

  • Paper Statement

  • Point of Sale (POS) / Transaction

  • ATM Withdrawal

  • Debit Card Issuance

  • Check Distribution (Reimbursement)

  • Overdraft / Non-Sufficient Funds (NSF)

  • Stop Payment Request

  • Closing / Transfer / Rollover

  • Excess Contribution

  • Etc.

The best HSAs for Spenders:

  1. have no monthly administrative/maintenance fees.

  2. give participants a chance to evade the maintenance fee by attaining certain cash level in the account.

  3. have very few fees that participants can potentially "run into."

  4. have transparent fee disclosures


Fund Access

Ease of access to funds is of the utmost importance for HSA spenders, whether it be for payments or reimbursements.

The best HSAs for Spenders:

  1. offer a hassle-free reimbursement and payment experience.

  2. allow participants to reimburse themselves in multiple ways (check, ATM withdrawal, ACH transfer, etc.)

  3. allow participants to pay for qualified medical expenses in multiple ways (check, debit card, virtual card, bill pay)



In our search of the very best HSAs for spenders, we looked for administrators with the following features: 

  • Intuitive websites/apps. Modern platforms that are continually being updated to improve the customer experience.

  • Receipt / document storage tool to record and upload related medical invoices

  • Useful planning and consumerism tools

  • Robust mobile app that allows on the go management of all aspects of HSA account

  • Comprehensive education! HSAs are complex. HSA administrators should provide educational resources to educate their account holders. Educational resources should be available in multiple formats whether it be live webinars, recorded presentations, videos, informative blog posts, or infographics.

  • Dedicated customer service team with administrative expertise. When evaluating the best HSAs for spenders we opted to only recommend HSA providers whose core business is HSAs. HSA administrators with other lines of business usually don't allocate the required resources to adequately serve HSA spenders. For HSA spenders, the HSA offering must be comprehensive, and therefore we only recommend administrators who have dedicated HSA teams that are focused on providing the best experience for account holders.


The Best HSAs for Spenders

Standard Plan (Non-Employer Group)

Administrator Fees Fund Access Features Overall
A B+ A- A-
A A B A-
B+ A A- A-
A B+ A- A-
A- A B B+
B A B+ B+
A- A C B+
B A B+ B+
B A B+ B+
B- A B+ B

Disclosure: The HSA Report Card rankings are not recommendations to enroll in a particular HSA plan. Your unique HSA needs cannot be summed up by any rating or score. Instead, The HSA Report Card offers an easy to use snapshot of expert opinion and information to make analyzing and understanding your HSA plan options a simpler, more informed experience.


In Depth Reviews



Lively is disrupting the HSA industry with their quickly evolving, fee-free HSA offering.  Read More



The wait is over. This benefits giant finally entered the retail HSA space with an enticing offering for spenders. Read More



This startup leverages the latest technologies, including AI and machine learning, to offer an entirely new and truly unique approach to engagement, funding, saving and payment. Read More



Further is an experienced administrator with one of the lowest cost HSA offerings in the industry.  Read More



The HSA Authority has been a forerunner in providing health savings account and expertise in the marketplace, and is recognized as a leading provider year after year. Read More



For someone looking for a no-fee HSA provider that still offers various features, Avidia is it. Read More



[ Pur - Puhl ] adjective - notably or conspicuously unusual; extraordinary. Since its inception HealthEquity has strived to develop a ‘purple’ culture. Read More



More than 100 years in business. A top 10 custodian, with account holders throughout the nation. UMB aims to create a hassle-free HSA solution. Read More



HSA Bank began offering Health Savings Accounts since their inception in 2004, quickly gaining a nationwide reputation for their comprehensive offering. Read More



Optum Bank is the largest HSA administrator in the nation with more than 9 billion in assets. This arm of United Health Care boasts reasonable fees and a nice suite of consumerism tools. Read More