Health savings accounts (HSAs) continue to be an important tool for health care consumers as they look to both pay for today’s healthcare expenses and save for tomorrows. We wanted to provide a fresh snapshot of some of the key HSA Search characteristics to consider when evaluating a health savings account provider.

Minimum Opening Balance

of providers state there is a minimum balance to open their health savings account

is the average minimum balance to open an HSA for those providers requiring one

A minimum opening balance is the balance required to open the health savings account. For most providers this requirement is under $100 and can occasionally be waived in certain conditions, such as setting up direct deposit through your employer.

Monthly Maintenance Fee

of providers have a monthly maintenance fee

the average monthly maintenance fee for those that have a monthly maintenance fee

A maintenance fee is charged by the HSA provider to provide the health savings account. These fees can vary in frequency (annually, quarterly, monthly, etc.), however for our analysis we standardized the fees to be monthly to accurately compare them. These fees are also often able to be waived under certain conditions such as maintaining a minimum balance in the account.


of providers listed on HSA Search offer an investment option

is the average investing threshold

Investments are still not widely available but can be an important feature for consumers who are looking to grow their HSA savings for the future. Of the providers that offer investments, some feature an investment threshold (an investment threshold is a requirement to meet a certain HSA balance requirement to have access to investments).

We hope that understanding these three HSA account metrics will help empower HSA consumers to continue to evaluate their health savings account options.

As health savings accounts gain popularity, we at will continue to provide data and other insights to help consumers find the right HSA provider for them!