No-Fee HSA

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We are proud to announce that today we have eliminated all HSA fees for individuals and families. This includes any fees to access investments in their HSA. This makes Lively a truly no-fee HSA for eligible consumers.

Back in October, we announced our $11M Series A financing. At that time, we promised to invest the time, effort, and resources needed to continue investing in our platform. Our work has led to further automation resulting in cost savings that we’re now passing along to our users.

As you might know, most HSAs come with a laundry list of fees that often include monthly maintenance, account opening, funds transfer, debit cards, excess contributions, point of sale, minimum balance, reimbursement, and account closure. HSA fees directly inhibit a consumer’s ability to reduce out-of-pocket costs and maximize their health savings. Lively has no-fees.

In fact, Morningstar’s 2018 HSA Landscape report found “The [HSA] industry’s inconsistent disclosure, along with frequent, significant changes to fees and investment lineups, create a burden for account holders looking to select a well-managed plan.” With our zero-fee offering, Lively has removed these issues and concerns for HSA account holders.

Lively’s mission is to help consumers optimize their spending, maximize their savings, and better their livelihood. We will continue to do everything in our power to help our users get the most out of their HSA.

By offering a no-cost, customer first HSA, we hope to enable more HSA savings and ensure our customers can continue to invest in their health.

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.

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