What is the minimum balance for HealthEquity?
Asked by: Lacey Von IV | Last update: September 23, 2025Score: 5/5 (40 votes)
What is the minimum balance to avoid fees in HealthEquity?
Your monthly administration fee may be waived if you maintain a cash balance over $2,500.
What is the minimum cash balance for HealthEquity?
Cash account HealthEquity's standard, low-interest, cash account. This is the default option when opening an HSA. There is no minimum balance to participate in our cash account. In order to invest in mutual funds, your HSA cash balance must meet a minimum threshold of $1,000.
Is there a minimum HSA balance?
This ensures you will have cash ready to pay for qualified medical expenses. You can choose to invest any amount over this threshold, in $100 increments, as long as you maintain a minimum of $1,000 in your HSA cash account. This means that you need a minimum of $1,100 in your account before you can invest.
What happens when my HSA balance is $0?
Will my HSA account remain open if I have a $0 balance? The account will remain open if you have a $0 balance. There is no fee assessed to you for having a $0 balance.
Health Equity
What happens if I don't have enough money in my HSA?
If you do not have enough money in your HSA to pay for an eligible medical expense you will need to pay for the expense by some other means. Once the money is in your HSA account, you can withdraw the amount that you paid and reimburse yourself.
How much does HealthEquity charge for HSA funds?
The average fee for all funds available to HealthEquity members is: 0.09% or 9 basis points annually. Asset-based fee that covers investment administration roles and responsibilities. HealthEquity charges 0.03% per month on the average daily invested balance (0.36% per year) with a $10.00 monthly fee cap.
How much money do I need to keep in my HSA account?
#2 Save enough to cover your annual deductible.
Having an HSA balance equal to your annual health plan deductible creates a solid foundation, giving you a little peace of mind knowing you can cover these expenses. Take a minute to locate your deductible amount and consider making it your HSA savings goal!
How can I avoid HSA monthly fees?
Sometimes you can get those fees waived if your account balance is over a certain threshold, usually between $2,000 to $5,000. Plenty of banks offer HSAs with no maintenance fees, so this is an easy one to avoid if you do your research ahead of time.
What is the average HSA balance?
What Is the Average HSA Balance By Age? The average HSA balance for a family is about $7,500 and for individuals it is about $4,300. This average jumps up to $12,000 for families who invest in HSAs. Here's a breakdown of the average HSA balance by age.
Is HealthEquity a good HSA?
HealthEquity has a proven track record as an HSA custodian dating back to 2002—managing 4.9 million HSAs (accounting for $8.1B in custodial assets) through 120 health plans, and recognized in 2017 by Kiplinger for Best HSA.
Does HSA Bank require a minimum balance?
HSA Checkbook Order Fee (50 checks) $7.95 Use your Health Benefits Debit Card or online transfers to access your funds. There is no minimum account balance required to open a health savings account or to obtain the annual percentage yield disclosed.
How much does it cost to close a HealthEquity account?
Your remaining HSA balance, less the $25 account closing fee, will be mailed to you within three weeks of HSA Bank receiving this form.
Is there a minimum balance that needs to be in the account?
Do All Accounts Have Minimum Balance Requirements? The short answer is no: Some financial institutions won't set minimum balance requirements on any of their accounts. Others may charge a monthly maintenance fee on some or all accounts, but they'll offer several ways to get the fee waived.
Which HSA has no fees?
There are zero account fees and zero account minimums for Fidelity HSAs® offered through Fidelity.com to individuals and employers.
Can I take money out of my HealthEquity account?
anytime tax-free and without penalty as long as it is to pay for qualified medical expenses. If you take money out for other purposes, however, you will have to pay income taxes on the withdrawal plus a 20% penalty.
Why is my HSA charging me a monthly fee?
Monthly account fees
HSA providers sometimes charge monthly account maintenance fees. But it should be noted that if you participate in an HSA through your employer, they'll often take care of these fees for you. Your enrollment paperwork should detail this, but if you're unclear, check with your plan administrator.
What happens to my HSA if I never use it?
Myth #2: If I don't spend all my funds this year, I lose it. Reality: HSA funds never expire. When it comes to the HSA, there's no use-it-or-lose-it rule. Unlike Flexible Spending Account (FSA) funds, you keep your HSA dollars forever, even if you change employers, health plans, or retire.
How much should you put in HSA monthly?
The short answer: As much as you're able to (within IRS contribution limits), if that's financially viable. If you're covered by an HSA-eligible health plan (or high-deductible health plan), the IRS allows you to put as much as $4,300 per year (in 2025) into your health savings account (HSA).
Can I use HSA for dental?
Your HSA also covers expenses for standard dental cleanings and dental check-ups. One thing to keep in mind is that some of these procedures may have a co-payment, so it's important that you check with your dental insurance provider to find out exactly what you'll have to pay out of pocket.
Should I max out my HSA every year?
If you're able to make the maximum contribution each year, then it's suggested that you do so. Some years you may need to use more of your HSA contributions than other years. Just remember, there's no yearly minimum you have to spend from your HSA and your entire HSA automatically rolls over each year.
What if I run out of money in my HSA?
What happens when my HSA funds run out? You may be financially responsible for any eligible medical expenses that fall within the coverage gap.
Can I transfer money from my HSA to my bank account?
Online Transfers – On HSA Bank's member website, you can reimburse yourself for out-of-pocket expenses by making a one-time or reoccurring online transfer from your HSA to your personal checking or savings account.
What bank does HealthEquity use for HSA?
Your HealthEquity welcome kit will outline your specific monthly admin fees. This card is issued by The Bancorp Bank, pursuant to a license from U.S.A. Inc. Your card can be used everywhere Visa debit cards are accepted for qualified expenses.
Is HealthEquity free?
Open a Healthequity HSA
Click the link below, enter your information, and get your personalized individual HSA for $0/month.