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:

To view this article, become a Morningstar Basic member.

Register for Free