Best HSA Providers of 2025: Top Health Savings Account Vendors Guide

Once a quiet line item on the open enrollment form, HSAs have become a frontline tool for helping employees stretch their healthcare dollars and build real financial security. According to Benepass’s 2025 Benchmarking Guide, 69% of employers now offer an HSA, most seeding them with $900-$1,000 for individuals and $1,800-$2,000 for families. Employees are actually using them, too—with nearly half of HSA transactions going toward everyday costs like doctor visits and prescriptions.

In this guide, we’ll break down the five best HSA platforms for employers in 2025, exploring how each vendor approaches integrations, compliance, and employee experience. 

What is an HSA provider?

A Health Savings Account (HSA) provider is the financial institution or technology platform that manages your company’s HSA program. For HR professionals and Total Rewards teams, the HSA provider you choose shapes both the administrative experience for your team and the financial wellness experience for your employees. A strong HSA partner helps you:

• Simplify your operations: Instead of getting bogged down by manual processes, some of the best HSA providers offer automation, integrations, and accurate data flow between your key systems.
• Boost engagement: With the right partner, it’s easy to drive employee participation and contributions through clear education and easy-to-use digital tools. 
• Achieve compliance: As one of the most important benefits for choosing a top HSA platform, you’ll want to make sure it aligns perfectly with IRS contribution and eligibility rules, reducing the chance of audit risk and any administrative errors.
• Support scalability: As your organization expands, your HSA provider should effortlessly manage any extra growth or complexity like new geographies with ease. 
• Deliver a unified experience: HSAs won’t be the only benefit you offer your employees. The best account providers house HSAs with other pre-tax and lifestyle benefits under one platform, providing employees with a single wallet for health and wellness spending, and a single point of administration for your internal teams.

How we picked the best HSA providers

To identify the best HSA providers in 2025, we reviewed publicly available information, user feedback, and third-party data and considered some of the following key points: 

• Integration capabilities: How easily does the provider connect with payroll, HRIS, and other benefits systems to automate contributions, eligibility updates, and reporting?
• Employer reporting and analytics: Can you easily pull insights on participation, contributions, and usage trends?
• Transparency and fee structure: Does the vendor clearly outline pricing for both employers and employees? 
• Employee experience: Is the platform intuitive? Does it make it easy for employees to spend, save, and invest without confusion or extra steps? 
• Customer support: Are support teams responsive and equipped to help both HR admins and employees resolve issues quickly?
• Scalability: Can the provider grow with your organization as you expand into new regions, benefits programs, or payroll systems?
• Security and compliance: How well does the provider protect sensitive financial and health data? 

5 best HSA providers for businesses in 2025

Each of the following vendors across the HSA landscape offers a unique mix of integrations, reporting capabilities, and employee experience. Here’s how our top five compare, and what HR leaders should know before selecting their next HSA partner.

*Scoring reflects a comparative analysis of each vendor’s publicly available features, customer feedback, and reported capabilities as of 2025. 

1. Benepass

Best for: Mid-sized and enterprise employers looking to modernize benefits administration and offer employees a consumer-grade experience that drives engagement.

When it comes to offering a modern, employee-first HSA experience, Benepass sets a new standard. While many legacy HSA vendors rely on clunky portals and manual file uploads, Benepass reimagines the entire experience by connecting all your tax-deductible and lifestyle benefits in a unified platform with a sleek design.

Why it stands out

For HR teams, Benepass takes what’s often one of the most complex benefits to administer and makes it simple. You can connect your payroll system directly, automating enrollment, contributions, and eligibility updates. During open enrollment, Benepass automatically enrolls eligible team members, funds their accounts, and invites them to join the platform. 

On the employee side, the experience feels like using a modern fintech app. Members can manage their HSA through web and mobile apps, view real-time balances, and access both a virtual and physical HSA debit card. The entire experience is designed to encourage engagement—a huge reason why over 25% of Benepass HSA holders invest their funds, compared to industry averages closer to 7-10%. 

Key features

• Automated HRIS and payroll integration to streamline enrollment and contributions
• Unified benefits experience combining HSAs, FSAs, LSAs, and commuter benefits in one digital wallet
• Low investment barrier with a $100 minimum and no hidden maintenance or trading fees
• Flexible investment options through guided mutual funds or self-directed brokerage, all managed in-app
• Enterprise-grade security, including SOC 2 certification and bank-level encryption
• Exceptional support, with a 97% customer satisfaction rate and a 70 NPS score—far above industry norms
• Easy, mobile-friendly employee experience that drives higher participation

What users think

“Benepass has a clean, straightforward interface for checking HSA balances and setting up reimbursements for expenses already paid. The debit card was easy to use to pay for expenses.” - Kristina R., an enterprise user 

2. HealthEquity 

Best for: Compliance-sensitive organizations in regulated industries looking for an HSA partner with a strong track record in security and regulatory support.

As an established name in consumer-directed benefits, HealthEquity is often seen as a safe choice for employers looking to centralize pre-tax benefits. The company offers a full suite of integrated accounts, including HSAs, FSAs, HRAs, COBRA, and commuter benefits, making it an attractive option for organizations that want a single, all-in-one administrator with plenty of experience.

Why it stands out

HealthEquity’s strength lies in its scale and compliance expertise. Employers can integrate their HSA program with existing health plans, retirement providers, and payroll systems, simplifying data flows and reporting. For HR teams managing multiple benefit types, this can mean fewer vendors and more streamlined billing. 

The platform also includes 24/7 member services and ongoing regulatory advocacy, a differentiator for compliance-conscious organizations that value stability and security. And in terms of employee utilization, HR teams have access to Engage360, HealthEquity’s engagement resource suite for benefits professionals, designed to boost employee education with consistent materials.

Key features

• Comprehensive benefits administration 
• Integrated data workflows across payroll, health plans, and retirement providers
• Bulk file transfers for easy onboarding from legacy vendors
• 24/7 live support and educational resources to boost engagement
• Security-focused architecture with encryption, biometric login, 2FA, and real-time monitoring

What users think 

“I really appreciate the investment features of the HealthEquity HSA, as they offer a simple way to grow my savings tax-free. The diverse range of low-cost investment options lets me tailor my portfolio to match my financial goals. While the HSA investment features are great, the program fees can add up.” - Marshall D., a small business user 

3. Fidelity HSA 

Best for: Employers that prioritize trust, simplicity, and financial wellness alignment, particularly those already partnered with Fidelity for retirement or investment benefits.

With more than 4.4 million HSA account holders and Morningstar recognition as a top HSA provider, Fidelity combines decades of investment expertise with a proven, employee-friendly health savings experience. The brand trust can be a selling point for employers, but Fidelity also offers a seamless way to align HSAs with employers’ long-term financial wellness strategies.

Why it stands out

The Fidelity HSA® shines for organizations already using Fidelity for retirement or investment benefits. Its integration with the Fidelity PSW® employer dashboard and NetBenefits® employee platform creates a unified ecosystem where HR teams can manage HSAs and retirement plans side by side. 

Employees also appreciate the simplicity. There are no account or employer fees, no minimums, and a wide range of investment options, from mutual funds to self-directed brokerage accounts. Fidelity backs this with targeted education and data-driven insights that help employees make informed health and savings decisions to safeguard their financial future.

Key features 

• Deep integration with Fidelity’s retirement and investment platforms
• Dedicated client service teams and employer dashboards for streamlined oversight
• Comprehensive investment options, including mutual funds and brokerage account

What users think 

“It is very easy to use and see your investment with Fidelity.” - Sean B., an account executive 

4. Lively 

Best for: Mid-sized employers and tech-forward organizations that prioritize flexibility and clean integrations

If you’re looking for an HSA partner that plays nicely with your existing systems, Lively stands out as one of the most integration-friendly vendors in the market. Built from the ground up with modern technology, Lively’s platform is designed to help HR and benefits teams onboard quickly, connect seamlessly to payroll and HRIS systems, and manage HSAs without the usual manual file uploads or delays.

Why it stands out 

Unlike legacy HSA providers that rely on outdated infrastructure, Lively’s technology is built in-house, offering flexible integration options including real-time API connections, SFTP data feeds, and Single Sign-On. Lively’s flexibility makes it a favorite among employers who want to automate enrollment and contribution workflows without overhauling their existing tech stack.

Lively also prioritizes the administrator experience. Each employer is paired with a dedicated Customer Success team that handles onboarding and ongoing support, while employees have access to a top-rated Member Support team for questions year-round. 

Key features 

• Flexible integration options
• Dedicated Customer Success team for onboarding and admin support
• Top-rated Member Support available via phone, email, or chat
• Transparent pricing: $2.95 PEPM with no hidden fees or add-ons
• Intuitive admin dashboard for easy contribution management and reporting

What users think 

“In the past we needed all our employees to go into a bank branch to set up a HSA account. Along with this, the bank required them to open a separate savings or checking account. Then I would have to physically go to a branch and deposit their company contribution into the account. This was a monthly nightmare and many employees took months to get set up. Now it is painless and done from a Smart phone or computer.” - Tanya S., director of operations 

5. HSA Bank 

Best for: Employers seeking a simple, reliable HSA partner backed by a stable financial institution

As a division of Webster Bank, N.A., HSA Bank combines more than two decades of experience with the financial stability of a nationally chartered bank. For HR teams that value straightforward setup, dependable processes, and long-term consistency, it remains one of the most trusted names in the HSA space.

Why it stands out

HSA Bank’s biggest strength is its streamlined employer experience. The setup process is designed to be “as easy as 1-2-3,” with flexible enrollment options for companies of all sizes and four contribution workflows that adapt to existing payroll practices. Because HSA Bank acts as both the custodian and the administrator, employers and employees avoid the confusion and risk that can come with custodial changes.

Employers also benefit from HSA Bank’s broad portfolio of account types, spanning HSAs, FSAs, HRAs, LSAs, commuter benefits, and tuition reimbursement programs. A dedicated support team and user-friendly admin dashboard help HR teams manage everything in one place, while employees enjoy a straightforward mobile app and easy access to educational resources.

Key features 

• Supported by Webster Bank’s financial infrastructure for long-term security
• Simplified employer onboarding and flexible contribution options
• One-stop custodian and administrator for added continuity
• Wide range of pre-tax and wellness accounts beyond HSAs
• Dedicated customer support and transparent transactions

What users think

“Our claim denial rate decreased 45%, debit-card auto-substantiation increased from 67% to 86% and employer tax savings quadrupled.” - Samaritan Health Services 

Getting started with your HSA offerings

The right HSA partner can transform how employees engage with their health and wellness benefits. Whether you’re expanding your pre-tax programs, preparing for open enrollment, or consolidating multiple vendors, now is the time to evaluate what’s working (or what’s not) in your benefits tech stack.

Benepass makes it easy to launch or upgrade your HSA program. It’s as simple as: 

• Connecting your payroll system
• Automating enrollment and funding
• Offering a seamless, mobile-first experience your employees will love to use 

And because HSAs live alongside FSAs, LSAs, and commuter benefits on one platform, your HR team gets unified reporting and fewer admin headaches.

Ready to streamline your HSA program and elevate your employee experience? Schedule a free demo or connect with a benefits specialist at sales@getbenepass.com today. 

Best HSA providers FAQ

What is an HSA? 

A Health Savings Account (HSA) is a tax-advantaged savings account that employees can use to pay for qualified medical expenses. Employees and employers can contribute HSA funds, and those contributions are triple tax-advantaged—HSA dollars go in tax free, the money grows tax free, and can be withdrawn tax free when used for eligible expenses.

For HR teams, an HSA is a strategic tool for improving employee financial wellness and helping your workforce plan for both short-term healthcare costs and long-term savings.

How do I pick between offering an HSA, FSA, or LSA?

Employers today have several options for helping employees manage health and wellness expenses, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and Lifestyle Spending Accounts (LSAs). Each supports a different aspect of your total rewards strategy, but the right mix will depend on your workforce demographics, company culture, and benefits philosophy: 

• An HSA is a pre-tax savings and investment account available to employees enrolled in a high deductible health plan (HDHP). For employers, HSAs are appealing because they promote long-term financial wellness and pair well with lower-premium health plans, helping manage overall benefits costs. Contributions are tax-advantaged for both the company and the employee, and HSA dollars roll over year after year, building a lasting sense of ownership and financial security.
• FSAs let employees set aside pre-tax dollars for predictable medical, dental, or vision expenses. FSAs are easy to implement and work for employees on traditional health plans, making them a versatile option for a wide range of organizations. But the difference between FSAs and HSAs is that FSAs are subject to “use it or lose it” rules, so any remaining balance at year-end typically expires, unless the plan includes a small rollover or grace period.
• LSAs take a more holistic approach to employee well-being. Fully funded by the employer, LSAs can be tailored to fit your organization’s culture and priorities, covering categories like mental health, fitness, financial wellness, family care, or professional development. While they’re not tax-advantaged, LSAs offer the flexibility to support a broader definition of wellness, helping attract and retain a diverse workforce.

When deciding which to offer, consider both your benefits philosophy and your employees’ needs. Many employers combine these account types; for example, pairing an HSA or FSA for healthcare expenses with an LSA for overall wellness to create a comprehensive and flexible benefits experience that supports employees at every stage of life.

How do I pick the best HSA vendor for my organization?

HSA vendors aren’t one size fits all, but overall, you’ll want a provider that’s easy to administer, scales with your business, and delivers a great employee experience. The best vendors integrate with payroll and bundle seamlessly with other benefits. With its 4.8 G2 score, Benepass is a highly versatile platform that’s often the top choice for modern HR teams.