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Lively HSA Review

If you are in your twenties or thirties, you are probably in pretty good health.

Consequently, your healthcare spending is likely lower now than it will ever be.

If you have low healthcare costs now, you should consider choosing a high-deductible health plan.

The IRS defines a high deductible health plan as any plan with a deductible of at least $1,350 for an individual or $2,700 for a family.

However, out-of-pocket healthcare costs are increasing each year.

As these costs increase, you are left to make difficult financial decisions about your health and money.

Guess which one [usually] wins?

Well, it should be your health.

Luckily, a high deductible health plan can be combined with a health savings account.

An HSA can help you save money so that you no longer need to choose between your health and finances.

But how does an HSA work? I am glad you asked…

What is an HSA?

A health savings account (HSA) is a type of savings account that allows you to set aside pre-tax money for qualified medical expenses.

You can lower your healthcare costs by using your HSA to pay for things like:

  • Deductibles;
  • Copayments;
  • Coinsurance; and
  • Other qualifying medical expenses.

For 2019, you can contribute:

  • Up to $3,500 if you have single coverage; or
  • Up to $7,000 if you have family coverage.

Also, if you are 55 or older, you can contribute an extra $1,000.

Here are some other advantages of contributing to an HSA:

  • Pre-Tax Contributions: You can lower your taxable income!
  • Tax-Deductible After-Tax Contributions: Again, you can lower your taxable income!
  • Tax-Free Withdrawals: Never pay tax on the money used for medical expenses.
  • Tax-Free Earnings: Never pay tax on interest earned in this account.
  • Annual Rollover: Money left in your HSA at year-end rolls over to the next year.
  • Convenience: Most HSAs come with a debit card for easy access to your funds.

The main benefit is that you will not pay payroll tax, income tax, or any tax on the money that you contribute. Sounds pretty good, right?

If you enroll in a high deductible health plan, you should take advantage of an HSA.

To recap, if you have low healthcare costs, you should:

  • Choose a high-deductible health insurance plan
  • Save and invest as much as you can into a health savings account

But which HSA is right for you?

For starters, you should go with an HSA through your company.

However, if you are self-employed, you may need to seek out another provider.

If you are seeking an HSA provider, we have one for you…

…the company is known as Lively.

Lively HSA Overview

Lively is bring the HSA into the modern era to make it easy to save costs of health TODAY and plan for the costs of tomorrow.

Moreover, like many Health Savings Accounts…

…Lively makes it easier to manage rising costs through Health Savings Accounts (HSA).

Lively offers an FDIC-insured HSA account with many desirable features, such as:

  • “Free health savings account for individuals. No hidden fees.”
  • “FDIC insured. Your money is safe. Interest included.”
  • “100% paperless. We don’t waste your time.”
  • “Invest for FREE.”
  • “Simple. Intuitive. Transparent. Sign up in 5 minutes.”

Lively HSA – Interest Rates

With Lively, you earn interest, no matter what your balance. The interest rates on your savings are as follows:


Less than $2,500: 0.25%


$2,500-$4,999: 0.35%


$5,000-$14,999: 0.45%


$15,000+: 0.60%


Lively HSA – Fees

Are you ready for some “affordable” pricing? Here is Lively’s fee schedule:

Monthly Maintenance: $0

Account Opening Fee: $0

Account Closing Fee: $0

Funds Transfer (Out/In) Fee: $0

Debit Cards (Up to 3): $0

Excess Contribution Fee: $0

Point of Sale Fee: $0

Minimum Balance Fee: $0

Reimbursement Fee: $0

Access to Investments at TD Ameritrade: $0

Lively HSA – Invest your Funds!

You can invest your HSA funds with TD Ameritrade. You will get:

Free to access investments for individuals or employees.

No minimum cash balance required. You decide how much of your HSA funds to invest.

Manage investments entire online. You can manage your funds with all the tools you need online.

Set up automatic recurring investment transfers at no cost. Talk about convenience!

Simple to invest. You can invest in individual stocks, bonds, CDs, 300 commission-free ETFs, and more than 13,000 mutual funds.

Powered by TD Ameritrade.

Lively HSA Customer Service

You can reach Lively Monday through Friday from 8:00 AM to 6:00 PM PT.

Phone: 1 (888) 576-4837


There is also a Support Center with HSA Guides, FAQs, and an HSA calculator.

The HSA Guides will cover topics like:

  • Terminology 101
  • Benefits of an HSA
  • How to maximize your savings
  • Health savings account vs. Flexible savings account
  • Using your HSA funds
  • And much more!

That is right – the HSA guides cover everything that financial experts have to say about:

  • Getting a health savings account; and
  • Using it effectively to save for medical expenses and reduce your taxable income.

The HSA Calculator can show you:

  • Your HSA savings and investments potential over time.
  • How much you are eligible to contribute to your HSA.
  • How one health plan cost compares to other health plans costs.

The Lively HSA FAQ section can answer questions like:

  • What records do I need to keep to justify spending money on a qualified medical expense?
  • Why should I put money into my HSA over some other savings vehicle (e.g., 401(k))?
  • What happens if I use my money to pay for a non-qualified expense? (Spoiler: The IRS will kick down your door, and you will get a minimum sentence of life in prison)*
  • If I have a family, can I still have an HSA?

So, if you have any questions – Lively will likely be able to answer those for you.

*Okay, you won’t get life in prison – but this is why you need to read the FAQs carefully.

Are you eligible for a Lively HSA?

Becoming eligible for a Lively HSA is pretty simple.

To be eligible for Lively, you need one of two things:

  • Currently have an HSA with funds to roll over; or
  • Have an HSA-compatible, high-deductible insurance plan.

If you have an HSA with funds, you can roll over your funds during the enrollment period.

Also, if you have an HSA but are not eligible to contribute to an HSA, you can still rollover your funds.

Lively HSA – Pros

  • You can invest for FREE with Lively.
  • There is no minimum cash balance requirement for investing.
  • Invest through a brokerage account at TD Ameritrade.

Lively HSA – Cons

  • New, small start-up company – no guarantee this will be a viable long-term option.

Is Lively the right choice for you?

Lively is one of our favorite HSA options in the marketplace.

The investment options are great, and there are no fees associated with the account.

If you are looking for an HSA provider…

…Lively should be on your short-list of considerations.

You can sign-up for Lively HSA right here.

If you are on an employer-sponsored plan, you should still review your account and see if making the switch would be a good idea.

So, why should you consider Lively HSA?

The company is…

Affordable: Free for individuals and families and no fees to add investments.

Trusted: All HSA accounts are FDIC insured and receive access to top-notch customer service.

Intuitive: Lively’s user-friendly software allows you to streamline how you invest in your health.