The HSA Report Card


The Best HSAs for Spenders


Criteria for Evaluating HSA Plans


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

  • 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 transparent fee disclosures.

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



Ease of access to funds is of the utmost importance for HSA spenders. 

The best HSAs for Spenders:

  1. offer a hassle-free reimbursement experience.

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



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

  • Intuitive websites/apps

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

  • Useful planning and consumerism tools

  • 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 Reimbursement Features Overall
A A-B+ A-
A- AB+ A-
A- AB B+
B- AA 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 changing the game for Health Savings Accounts. This San Francisco - based startup is disrupting the HSA industry with its exciting offering.  Read More



Further is an experienced administrator with the most complete fee-free HSA 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 our study with more than 3 million HSAs and more than $9 billion in assets. This arm of United Health Care boasts reasonable fees and a nice suite of consumerism tools. Read More