Fidelity HSA® ranked #1 by Morningstar for the third year in a row

With continued strong HSA growth, Fidelity stands above the rest as the top HSA provider and our customers are benefiting.

For the third year in a row, Fidelity was named the top HSA provider by Morningstar, standing out among 11 of the largest HSA providers as the best HSA for investing and for spending.1 Fidelity was the only HSA provider that earned a high assessment for both its spending and investing capabilities. This year, Fidelity remains the only HSA provider that earned a high assessment (the best assessment on Morningstar’s five-tier scale) for both its spending and investment accounts.

For investors, according to Morningstar, Fidelity is the clear-cut winner for the third year in a row, with the lowest fees across the board. The Fidelity HSA offers no maintenance or investment fees, no threshold to invest, cheap passive funds, and a well-constructed investment menu. Fidelity investors can buy a passive 60% stock/40% bond portfolio for an all-in cost of 0.02% regardless of account balance, an option other providers can't compete with.

On the spending side, this year’s assessment again names Fidelity and Lively as the most compelling options for spenders in the HSA space. Both providers charge no fees for spenders, avoiding maintenance fees as well as one-off additional fees.

These accolades come in conjunction with strong organic HSA growth through attracting new business, retaining clients, and growing balances through engagement and investing. Unlike other top competitors who have grown through recent Merger and Acquisition activity, Fidelity focuses on growing its business by providing value, excellent customer experience and client engagement and education.

Fidelity customers are benefiting. According to the latest Devenir report, Fidelity has increased its market share more than any other provider and is now among the top 3 largest HSA providers2.

Compared to the rest of the industry, Fidelity HSA® customers contribute, save, and invest more of their dollars for their health care needs.

  • Contribute 31% more to their HSA3
  • Save more maintaining 84% higher account balances compared to the rest of the industry4
  • Invest more with 3 times the number of invested accounts4

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1 Morningstar rated 11 retail HSA providers for two distinct use cases: HSAs as a spending account to cover current medical costs, and HSAs as an investment account to save for future medical expenses. Results published in “The Best HSA Plans of 2021”

2 Market share data sourced from Devenir Research Midyear and Year-end Market Statistics and Trends Reports biannually from June 2016 to June 2021.

3 General HSA and Industry Average data sourced from DevenirResearch 2020 Year End HSA Market Statistics and Trends results from January 1, 2020to December 31, 2020.

4 General HSA and Industry Average data sourced from DevenirResearch 2021 Mid Year HSA Market Statistics and Trends as of June 30, 2021.

The information provided herein is general in nature. It is not intended, nor should be construed, as legal, tax, or investment advice. Fidelity does not provide legal, tax, or investment advice to Fidelity.

Fidelity data represents aggregated data of Fidelity recordkept HSAs as of date indicated from the entire book of business. Industry data also includes providers entire book of business.

Investing involves risk, including risk of loss

The trademarks and service marks appearing herein are the property of their respective owners.

For investment professional and plan sponsor use only. Firm rules may apply.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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