HealthEquity HSA
📍 Available in: US
★★★★★ 4.5 / 5.0
HealthEquity is the largest non-bank health savings custodian in the US, managing over $25 billion across 8 million accounts. While primarily distributed through corporate benefits programs, HealthEquity provides reliable custodial management and low-cost Vanguard index fund investing for employees whose companies sponsor their accounts.
Key Facts at a Glance
| Cost / Fee Structure | Employer Paid / $3.95/mo (Individual) |
| Credit / Eligibility | N/A (Deposit Account) |
Pros & Cons
✓ Pros
- ✓Seamless pre-tax payroll deductions with hundreds of thousands of employers
- ✓High-quality institutional Vanguard fund lineup
- ✓Member portal integrates medical claims directly from insurance carriers
- ✓Established 20+ year institutional track record
✕ Cons
- ✕Enforces a $500–$1,000 cash balance minimum before investing is permitted
- ✕Low interest paid on the required cash cushion
- ✕Individual non-employer accounts carry monthly administration fees
Key Features
Extensive Employer Payroll IntegrationCurated Low-Cost Vanguard Mutual Fund LineupAutomated Investment Threshold SweepsIntegrated Healthcare Claims & Bill PayHealthEquity Visa HSA Debit Card