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HSA and FSA administrators · October 2026 Edition

HealthEquity vs Fidelity HSA

Six of fourteen models named HealthEquity first on the direct prompt; zero named Fidelity HSA. HealthEquity was named by fourteen of the fourteen models and Fidelity HSA by thirteen and HealthEquity carries 59 labels and Fidelity HSA 37, so the shares are not directly comparable.

HealthEquity

accepted challenger

Named in two categories this edition.

Fidelity HSA

accepted challenger

Named in one category this edition.

First-choice share29%10%Of first choices across the direct, paraphrase, budget and scale prompts, 0 to 100.

Negative rate20%3%Negative labels as a share of the product's labels, 0 to 100.

Rank in category#1#3A position in a field of 12; printed, not drawn.

Labels5937A count; the two differ.

The two percentage rows are drawn on one 0 to 100 track, HealthEquity reading right to left. Rank and label count are printed, not drawn.HealthEquity vs Lively · HealthEquity vs WEX Benefits · HealthEquity vs WEX Health

Share is the count of first choices across the direct, paraphrase, budget and scale prompts over all fourteen models, for a mid-market B2B company; rank is within the category; every quote names the model and the prompt it came from. Both figures come from the HSA and FSA administrators page.

By framing

How many of the fourteen models made each the first choice, per way of asking, and how many argued against it.

HealthEquityFirst choices, of fourteen modelsFidelity HSA

Direct601 against HealthEquity

Paraphrase601 against HealthEquity

Comparative721 against Fidelity HSA

Budget-constrained251 against HealthEquity

Scale-constrained00

Negative049 against HealthEquity

Bars are first choices, 0 to 14 each sideModels that argued againstA model can name both, so the two sides of a row do not sum to fourteen.

Across every category in the October 2026 Edition, HealthEquity and Fidelity HSA were named in the same answer eighty times, of the 164 answers naming HealthEquity and the 98 naming Fidelity HSA. In those answers Fidelity HSA took the first choice fourteen times and HealthEquity twenty-seven.

Every model, every framing

The eighty-four answers behind the chart above, one cell each: where HealthEquity and Fidelity HSA stood in it.

Model	Direct	Paraphrase	Comparative	Budget-constrained	Scale-constrained	Negative
Claude Haiku 4.5
GPT-5.4 mini
Gemini 3.5 Flash
Perplexity Sonar
Grok 4.1 Fast
Mistral Small
DeepSeek V4 Flash
Llama 4 Maverick
Qwen 3.7 Flash
Kimi K2
GLM 4.7 FlashX
MiniMax M2.5
GPT-6 Luna
Muse Glimmer 30B

HealthEquity

Fidelity HSA

first choice

named as an alternative

argued againstblank: not namedEach cell is one answer, HealthEquity on the left and Fidelity HSA on the right.

The direct prompt

The plain question, one answer per model, grouped by where HealthEquity and Fidelity HSA stood in it.

HealthEquity first, Fidelity HSA an alternative

6 of 14 modelsFidelity HSA was named in the answer but not as the choice, or not at all.

Claude Haiku 4.5HealthEquity alternatives: Ameriflex, Sentinel Benefits & Financial Group, WEX Benefits

Perplexity SonarHealthEquity alternatives: Associated Benefits Connection / Associated Bank, Benepass, WEX Benefits

Grok 4.1 FastHealthEquity, Lively alternatives: Fidelity HSA

DeepSeek V4 FlashHealthEquity, WEX Health alternatives: Fidelity HSA, Lively, Navia Benefit Solutions

MiniMax M2.5HealthEquity alternatives: Businessolver, Further, WEX Health

Muse Glimmer 30BHealthEquity alternatives: Allegiance, Lively, WEX Health

Neither was the first choice, one was named

5 of 14 modelsThe answer put something else first and named one of the two as an alternative.

Gemini 3.5 FlashBenepass, Forma alternatives: Fidelity HSA, Lively, Navia Benefit Solutions, Sentinel Benefits

Qwen 3.7 FlashLively alternatives: Fidelity HSA, Further Health, HSA Bank, HealthEquity, Navia Benefit Solutions

Kimi K2Flores Financial Services alternatives: Businessolver, HealthEquity, WEX Health

GLM 4.7 FlashXBusinessolver alternatives: Alegeus, Fidelity HSA, Flores, HSA Bank, HealthEquity, Lively, WEX Health

GPT-6 LunaWEX Benefits alternatives: HealthEquity

Neither was named

3 of 14 modelsThe answer made no first choice from these two in this category.

GPT-5.4 miniForma alternatives: Lively, WEX Benefits

Mistral Smallno first choice

Llama 4 Maverickno first choice

Bold names in an answer are the products the judge labeled a first choice; a model naming several gives each of them that label. The full answer text for every row is in the record.

By buyer segment

The same question asked on behalf of a different buyer. Each standing is computed within its segment and they are never added together. The figures above are the mid-market standing, which is the one the category orders by.

Small business

HealthEquity leads by two points.

HealthEquity#3 of 9

Fidelity HSA#4 of 9

The full small business standing →

Mid-marketThe figures above

HealthEquity leads by nineteen points.

HealthEquity#1 of 12

Fidelity HSA#3 of 12

The full mid-market standing →

Enterprise

HealthEquity leads by thirty-five points.

HealthEquity#1 of 12

Fidelity HSA#6 of 12

The full enterprise standing →

What the models said about HealthEquity

Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Six of eight in this category shown.

“HealthEquity has a very low rating (1.2/5) on Trustpilot, with many users reporting issues with customer service, account access, and problems with payments and refunds.” Mistral Small · negative prompt · hard negative

“High volume of complaints (900+ on BBB in 3 years); claim denials, poor customer service, long hold times, app glitches, refund delays” Grok 4.1 Fast · negative prompt · hard negative

“Rates HealthEquity as Fair (2.5/5) with a strong emphasis on negative reviews and a recommendation against using the service.” GLM 4.7 FlashX · negative prompt · hard negative

“Largest independent HSA custodian in the U.S. ... Best For: Large employers wanting a single vendor for all consumer-directed benefits” Kimi K2 · comparative prompt · first choice

“Recognized as America's top HSA administrator, with a significant market share and millions of accounts under management.” Mistral Small · comparative prompt · first choice

“HealthEquity stands out as a scalable HSA platform with strong integration capabilities and robust reporting tools.” Muse Glimmer 30B · direct prompt · first choice

What the models said about Fidelity HSA

Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Four of five in this category shown.

“though they are less focused on "voluntary benefits" enrollment compared to specialized TPAs” Qwen 3.7 Flash · comparative prompt · soft negative

“If you are an individual opening an HSA: Choose Fidelity. It is entirely free, pays the highest interest on cash, and gives you the absolute best investment options.” Gemini 3.5 Flash · comparative prompt · first choice

“Fidelity Investments is the only HSA firm out of 11 reviewed that received an assessment of being "high" quality” Claude Haiku 4.5 · negative prompt · first choice

“You can open a fee-free, $0-minimum HSA with a highly-rated provider (such as Fidelity or Lively)” Gemini 3.5 Flash · negative prompt · first choice

Also compared

HealthEquity vs Lively HealthEquity vs WEX Benefits HealthEquity vs WEX Health HealthEquity vs Businessolver HealthEquity vs Navia Benefit Solutions HealthEquity vs Benepass Lively vs Fidelity HSA Fidelity HSA vs WEX Benefits Fidelity HSA vs WEX Health Fidelity HSA vs Businessolver Fidelity HSA vs Navia Benefit Solutions Fidelity HSA vs Benepass All twenty-eight head-to-head pages and the full HSA & FSA admin standing

Comparisons are drawn for the top eight products in each category, each against each. The output is the models' output; nothing here is a recommendation by the index.