$
$
$$
$$$$
$$$
$$$$
$$$$$
High
Above Average
Above Average
Average
Average
Average
Average
UMB
Optum
HSA Bank
Associated Bank
The HSA Authority
$$$
Above Average
Lively
HealthEquity
Fidelity
$$$
Average
Bank of America
Overall Assessment
Provider
$$$
Average
First American Bank
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
High
Above Average
High
High
Above Average
Average
Average
Above Average
Average
Average
Above Average
High
High
Average
Below Average
Below Average
High
Average
Average
Average
Best HSAs for Investing
Source: Morningstar, Inc. Assessments as of Aug. 31, 2022.
A High assessment for Investment Threshold indicates no investment threshold, while a Low assessment indicates an investment threshold of $2,000.
Menu Design
Score
Investment Threshold
Quality of Investments
Price
Overall Assessment
$
$
$$
$$$$
Associated Bank
The HSA Authority
$$$
Lively
HealthEquity
Fidelity
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
High
Above Average
Average
High
High
Above Average
Above Average
Above Average
Above Average
High
High
High
Average
Below Average
4.6
4.0
3.4
4.2
3.8
Overall Assessment
$$$$$
UMB
Average
High
Above Average
Average
2.8
$$$$
Optum
Average
Above Average
Above Average
Average
3.0
$$$
First American Bank
Average
Above Average
Average
Below Average
3.0
$$$
HSA Bank
Average
Above Average
Average
Average
3.2
$$$
Bank of America
Average
Above Average
Average
Average
3.2
$
$$
$$$$
$$$
HSA Bank
Associated Bank
The HSA Authority
$$$
Lively
HealthEquity
Fidelity
$$$
First American Bank
Above Average
Above Average
Above Average
Above Average
Above Average
Above Average
High
Above Average
Average
High
High
Average
Above Average
Above Average
Above Average
Average
Above Average
Above Average
Average
Average
Below Average
Above Average
High
Average
High
High
Average
Below Average
4.6
4.0
3.4
3.0
3.2
4.2
3.8
Price
4.6
4.0
3.4
3.0
3.2
2.8
3.0
3.2
4.2
3.8
$$$$$
UMB
Average
High
Above Average
Average
2.8
$$$$
Optum
Average
Above Average
Above Average
Average
3.0
$$$
Bank of America
Average
Above Average
Average
Average
3.2
$$$$
Associated Bank
$$$
First American Bank
Average
High
Above Average
Above Average
Average
Above Average
Average
Below Average
3.4
3.0
$$$
Bank of America
Average
Above Average
Average
Average
3.2
$$$$
Optum
Average
Above Average
Above Average
Average
3.0
$$$$$
UMB
Average
High
Above Average
Average
2.8
Price
$
HealthEquity
Above Average
Above Average
Above Average
Average
4.2
$
Fidelity
Above Average
Above Average
High
High
4.6
$$
The HSA Authority
Above Average
High
Above Average
Below Average
3.8
$$$
Lively
Above Average
Above Average
High
High
4.0
$$$
HSA Bank
Average
Above Average
Average
Average
3.2
$