Fidelity HSA
The Fidelity HSA charges no account fees and no minimum to invest, with $0 commissions on US stocks and ETFs and a 3.37% yield on the default cash position. For the only triple-tax-advantaged account in US finance, it's the standout — verified on Fidelity's own page.
Is the Fidelity HSA worth it?
The Fidelity HSA is the best home for the most tax-advantaged account in US finance. It charges no account fees and no minimum to invest, with $0 commissions on US stock and ETF trades — so you can actually invest your HSA rather than letting it sit in low-yield cash.
The detail that separates Fidelity from most HSA providers is what your idle cash earns: the default position is a money fund yielding 3.37% (as of 04/02/2026), versus the near-zero sweep rates many HSAs default to. That matters because an HSA compounds for decades if you treat it as a retirement account.
An HSA is triple tax-advantaged — deductible contributions, tax-free growth, tax-free qualified medical withdrawals — but you need a qualifying high-deductible health plan to contribute, and non-medical withdrawals before 65 are taxed and penalized. Yields and rates are variable and can change; this is not financial advice. Confirm current terms on Fidelity’s site before opening.
How does a high-yield savings account work?
A high-yield savings account holds cash and pays interest, quoted as an annual percentage yield (APY). The bank can change a variable APY at any time, and federal rules may limit certain withdrawals. Interest compounds — usually daily or monthly — and is taxable income in the year you earn it.
What are the pros and cons of the Fidelity HSA?
The Fidelity HSA stands out for no account fees and no minimum to invest, though requires a qualifying high-deductible health plan to contribute.
- No account fees and no minimum to invest
- $0 commissions on US stock and ETF trades
- 3.37% yield on the default cash money fund
- Requires a qualifying high-deductible health plan to contribute
- Non-medical withdrawals before 65 are taxed and penalized
- The cash sweep options yield far less than the default money fund
Who should get the Fidelity HSA?
The Fidelity HSA is best for anyone with a qualifying high-deductible health plan.
- Anyone with a qualifying high-deductible health plan
- People who want to invest their HSA, not just hold cash
- Long-term savers treating an HSA as a retirement account
How does the Fidelity HSA compare?
Among the 6 health savings accounts (hsas) we track, the Fidelity HSA ranks #1 with a money8020 score of 97/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Fidelity HSA | 97 | Essential | Fidelity Investments |
| Lively HSA | 96 | Essential | Lively |
| HealthEquity HSA | 81 | Strong | HealthEquity |
| HSA Bank | 79 | Strong | HSA Bank (a Webster Bank brand) |
| Optum Bank HSA | 77 | Strong | Optum Bank |
See all health savings accounts (hsas), ranked →
Common mistakes to avoid with a high-yield savings account
- Chasing a teaser rate without checking the ongoing APY or any balance tier needed to earn it.
- Leaving an emergency fund in a 0.01% big-bank account instead of a high-yield account.
- Assuming the APY is fixed — it is variable and can drop after you open.
- Overlooking transfer times: moving money to a linked bank can take one to three business days.
Key takeaways
- Fidelity HSA earns a money8020 score of 97/100, ranking #1 of 6 health savings accounts (hsas).
- No account fees and no minimum to invest
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- Best for anyone with a qualifying high-deductible health plan.
- Rate and FDIC status fetched from Fidelity Investments and corroborated against a regulator.
Frequently asked questions about the Fidelity HSA
Does the Fidelity HSA charge account fees?
No. Per Fidelity, the HSA has no account fees and no minimum to invest, with $0 commissions on US stock and ETF trades. The default cash position is a money fund yielding 3.37% (as of 04/02/2026), though lower-yield sweep options also exist.
Why is an HSA so tax-advantaged?
An HSA is triple tax-advantaged: contributions are deductible, growth is tax-free, and qualified medical withdrawals are tax-free. You need a qualifying high-deductible health plan to contribute. After age 65, non-medical withdrawals are taxed like a traditional IRA rather than penalized.
Can the rate on the Fidelity HSA change?
Yes. A high-yield savings APY is variable, so the bank can raise or lower it at any time, often following moves in the federal funds rate. Check the rate before you open and review it periodically.
How is interest from the Fidelity HSA taxed?
Savings interest is taxable as ordinary income in the year you earn it. If you earn more than $10, the bank sends a Form 1099-INT, and you report it on your federal return.
Sources
We fetched these figures from the provider and corroborated them against a regulator, last checked May 30, 2026. Primary sources: