Skip to Content
Fund Spy

5 Costs to Keep in Mind When Picking an HSA

Layers of explicit and implicit costs make HSA expenses tough to evaluate.

Health savings account investors will have a tough time comparing costs of one HSA to another because of layers of fees and potential opportunity costs embedded at most providers. In October, we released a report that evaluated and ranked 10 of the largest HSA investment accounts available to individuals. Costs differ significantly from one provider to the next and factored heavily into our evaluations. This article highlights five types of explicit and implicit costs that HSA investors should be mindful of.

Underlying Fund Fees, Maintenance Fees, and Investment Fees
HSA investors can't avoid underlying fund fees, but they can minimize them. To make an apples-to-apples comparison across the 10 HSAs we evaluated, we built the cheapest active and the cheapest passive 60% stock/40% bond portfolios at each provider using the following asset class weights:

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.