Best HSA Providers for Self-Employed in 2025

If you're self-employed, you already know the drill: no employer match, no group benefits, no one handling your insurance paperwork. But that independence also gives you control over one of the most powerful savings vehicles available — the Health Savings Account (HSA).

An HSA pairs with a High Deductible Health Plan (HDHP) and offers a triple tax advantage: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are tax-free. For the self-employed, who can't rely on employer-sponsored benefits, an HSA doubles as both a healthcare fund and a retirement supplement.

We evaluated the top HSA providers on what matters most to self-employed individuals: low fees, strong investment options, and easy access to funds. Here are our picks.

Best HSA Providers for Self-Employed

Best Overall / Low Fees: Fidelity HSA

Fidelity's HSA is the clear winner for most self-employed individuals. There are no monthly maintenance fees, no account minimums, and no trading commissions.2 You can invest your full balance immediately — no cash buffer required — in a wide range of Fidelity mutual funds, ETFs, and individual securities.

For the self-employed, this means every dollar you contribute goes to work immediately. Fidelity also offers a user-friendly mobile app, bill pay, and a debit card for direct medical expenses. The investment platform is the same robust system Fidelity uses for its IRAs and brokerage accounts, giving you access to research tools and portfolio analysis.

Why it wins for self-employed: Zero fees maximize your contributions, and the full investment flexibility lets you treat your HSA as a long-term retirement vehicle.

Best for Liquidity: HealthEquity HSA

HealthEquity is the best choice if you want checking-account-style access to your HSA funds. It offers a debit card, online bill pay, and a mobile app with mobile check deposit.3 You can pay providers directly or reimburse yourself.

HealthEquity's investment options require a $2,000 cash buffer before you can invest the rest, which makes it less ideal for pure long-term growth but excellent for those who want ready access to their healthcare funds. The platform offers a curated selection of mutual funds and ETFs.

Why it wins for liquidity: The $2,000 cash floor ensures you always have funds available for medical expenses, and the debit card and bill pay make spending seamless.

Best for Active Investing: Lively HSA

Lively partners with TD Ameritrade (now part of Charles Schwab) to offer a self-directed brokerage account within your HSA.4 This gives you access to stocks, ETFs, options, and a wide range of mutual funds — essentially a full brokerage experience inside your HSA.

Lively has no monthly fees, and there's no minimum balance required to start investing.4 The TD Ameritrade integration provides powerful research tools, real-time data, and the thinkorswim trading platform.

Why it wins for active investors: If you want to manage your HSA like a brokerage account — picking individual stocks or actively trading ETFs — Lively gives you that freedom.

Best Value: HSA Authority

HSA Authority (now part of Further) offers a solid all-around HSA with competitive features. There are no monthly maintenance fees, and the investment account has no minimum balance requirement. The platform offers a curated selection of mutual funds from major providers.

The debit card and online bill pay are included, and HSA Authority provides easy integration with payroll providers for self-employed individuals who want to make pre-tax contributions through a Section 125 plan or solo 401(k).

Why it wins for value: No fees and no minimums make it accessible, and the payroll integration is helpful for self-employed individuals who want to automate contributions.

Comparison Table

Why an HSA Matters for the Self-Employed

For W-2 employees, an HSA is often just another payroll deduction. For the self-employed, it's a strategic financial tool:

1. Tax deduction: Contributions reduce your self-employment taxable income (you contribute with after-tax dollars but deduct on your tax return).
2. Tax-free growth: Investments grow tax-free — no capital gains taxes on trades or dividends.
3. Tax-free withdrawals: Medical expenses in retirement are tax-free. After age 65, you can withdraw for any purpose (taxed as income for non-medical withdrawals).
4. No RMDs: Unlike IRAs and 401(k)s, HSAs have no Required Minimum Distributions, making them ideal for legacy planning.

How to Choose

• If you want to maximize long-term growth: Choose Fidelity. Zero fees and full investment access make it the best for treating your HSA as a retirement account.
• If you need frequent access to funds: Choose HealthEquity. The debit card and bill pay make it easy to pay medical expenses directly.
• If you're an active trader: Choose Lively. The TD Ameritrade integration gives you full brokerage capabilities.
• If you want simplicity: Choose HSA Authority. No fees, no minimums, and straightforward features.

Sources

1. Morningstar — "The Best HSA Providers of 2025"
2. Money Crashers — "6 Best Health Savings Account (HSA) Providers"

Disclosure: We may earn a commission if you open an account through links on this page. This helps us keep our content free. All recommendations are based on independent research.