Health savings accounts (HSAs) are a revolutionary account that has saved health care consumers a lot of money through their unique triple-tax advantages. HSAs are a unique account with many different characteristics that can vary depending on the provider. We wanted to provide a snapshot of some of the key 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 institution to provide the health savings account. These fees can vary in frequency (annually, quarterly, monthly, etc.), however for our blog we standardized the fees to be monthly to accurately compare them. These fees are also occasionally 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 for the 6.4% of total providers that offer mutual funds

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. We define a provider as offering investments if they allowed health savings account holders to use brokerage accounts, mutual fund lineups, or other non-federally insured investment option. Of the providers that offer investments, some have an investment threshold (an investment threshold is a requirement to maintain a certain amount of money in the HSA to have access to investments).

We hope that understanding these three metrics will help consumers evaluate health savings accounts.

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!