Lively HSA
Free individual HSA with Schwab brokerage investing access
How it works
Lively offers a modern, no-fee HSA for individuals with both spending and investing features. The core HSA account is free with no monthly maintenance fees and up to three free debit cards. For investing, Lively partners with Charles Schwab to offer a Health Savings Brokerage Account with thousands of investment options and $0 commission trades. You can avoid the $24/year investment fee by keeping $3,000 in cash at Lively, or use the guided portfolio option (0.50% annually) for hands-off management.
Is it right for you?
Consider if you
- You want a no-fee HSA with broad investment options via Schwab
- You are self-employed and need an individual HSA not tied to an employer
- You already use Schwab and do not mind managing a linked brokerage account
Skip if you
- People wanting a fully integrated single-platform experience like Fidelity
- Those who want automatic sweep investing into their portfolio
- Anyone unwilling to keep $3,000 in cash to avoid the $24/year investment fee
Your money and data
Lively is an IRS-qualified HSA administrator. HSA contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are tax-free.
Pros & Cons
Pros
- Truly free for individuals — no monthly fees, no hidden fees, free debit cards
- Schwab Health Savings Brokerage Account access with thousands of investment options
- Morningstar 'Above Average' rating for spending accounts and 4.8-star app ratings
Cons
- Requires a separate Schwab brokerage account — two-account system
- $24/year investment fee unless you keep $3,000 in cash at low interest
- Morningstar rates the investing experience only 'Average'
Pricing details
Free individual HSA · $24/year investment fee (waived with $3K cash) · 0.50%/year guided portfolio · Employer $2.95/employee/month
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