HSA Bank
Quick Summary
- Big Four HSA provider
- Webster Bank subsidiary
- Morningstar Above Average
- No maintenance fee
The Verdict
HSA Bank offers a solid foundation with zero monthly maintenance fees and self-directed brokerage access, mutual fund investing, earning a 3.5/5.0 rating from HSA Orbit.
HSA Bank, a division of Webster Bank, N.A., empowers you to make the most of your healthcare dollars. Our vision is to inspire you to own your health by simplifying the health account experience and utilizing cutting edge technology and innovation to help you make sure you're on your way to a healthy financial future. With over 20 years of experience, we are a trusted leader in the consumer-directed healthcare industry. And we believe that being values-guided bankers, who put our customers and our employees at the heart of everything we do, is what sets us apart.
Key Features
Banking & Access
Includes debit card, online banking and check-writing.
Investment Options
Offers self-directed brokerage and mutual fund investing.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $0.00 | $0.69 | EXCELLENT |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $25.00 | $1.95 | ABOVE AVG |
| Printed HSA Account Summary Fee | $1.50 | N/A | -- |
* No monthly fee
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Brokerage Access
HSA Bank provides a self-directed brokerage window for investing your HSA funds in the broader market.
Mutual Fund Investing
Access mutual fund investments through your HSA with HSA Bank.
- Minimum ThresholdNo minimum
- FeesHSA Invest: Choice 0.10%, Select 0.25%, Managed 0.35% annually. Waived if quarterly avg cash balance $7,500+.
Interest Rates
Contact Information
At a Glance
Pros & Cons
The Good
- •No monthly maintenance fees
- •Self-directed brokerage access
- •Invest from the first dollar
- •FDIC/NCUA insured deposits
The Bad
- •Interest rates not published
User Sentiment
Based on community feedback
Sentiment data coming soon
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