Searching for the ideal HSA account in 2024? Look no further. With provider competition reaching an all-time high, now is an opportune moment to open or switch accounts if a Health Savings Account (HSA) hasn’t been top of mind before now. HSA funds are portable allowing individuals with balances in other accounts (even employer sponsored HSAs) at any time if one doesn’t meet your standards – portable enough that individuals could move them whenever desired between accounts without incurring penalties! In this article we review and rank the best HSA accounts available to individuals and families (outside employer sponsored HSA offerings) in 2024 with regard to fees, investment options available as well as pros/cons for each HSA available compared/ranked.
Since 2015, with the entry of Lively, Fidelity, Starship (an Optum and United Health partnership), and Bank of America back into individual (non-employer) HSA account markets with competitive offerings has led to an industrywide decrease in HSA account fees and improvement to investment account options – although not quite at parity with investment brokers – yet.
Consumers have their choice of hundreds of HSA account providers available to them, which makes choosing one even more difficult. Most are offered through banks or credit unions and few allow investors to invest outside their savings and money market accounts; unfortunately, many major online investment brokers do not even provide HSA accounts as an option.
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