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Index › HR › Compensation and total rewards › HSA & FSA admin › Fidelity HSA vs Forma
HSA and FSA administrators · November 2026 Edition

Fidelity HSA vs Forma

Two of fourteen models named Fidelity HSA first on the direct prompt; three named Forma. Fidelity HSA was named by fourteen of the fourteen models and Forma by ten and Fidelity HSA carries 53 labels and Forma 20, so the shares are not directly comparable.

Fidelity HSA

accepted challenger

Named in one category this edition.

Forma

accepted challenger

Named in three categories this edition.

First-choice share7%7%Of first choices across the direct, paraphrase, budget and scale prompts, 0 to 100.
Negative rate4%5%Negative labels as a share of the product's labels, 0 to 100.
Rank in category#5#6A position in a field of 14; printed, not drawn.
Labels5320A count; the two differ.
The two percentage rows are drawn on one 0 to 100 track, Fidelity HSA reading right to left. Rank and label count are printed, not drawn.HealthEquity was named alongside these two in eleven of the fourteen direct answers. Lively vs Fidelity HSA · Lively vs Forma · HealthEquity vs Fidelity HSA

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.
Fidelity HSAFirst choices, of fourteen modelsForma
Direct231 against Fidelity HSA · 1 against Forma
Paraphrase01
Comparative601 against Fidelity HSA
Budget-constrained20
Scale-constrained00
Negative31
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 November 2026 Edition, Fidelity HSA and Forma were named in the same answer fifty-seven times, of the 137 answers naming Fidelity HSA and the 252 naming Forma. In those answers Forma took the first choice twelve times and Fidelity HSA five.

Every model, every framing

The eighty-four answers behind the chart above, one cell each: where Fidelity HSA and Forma stood in it.
ModelDirectParaphraseComparativeBudget-constrainedScale-constrainedNegative
Claude Haiku 4.5
GPT-5.4 mini
Gemini 3.5 Flash
Perplexity Sonar
Grok 4.20
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
Fidelity HSA Forma first choice named as an alternative argued againstblank: not namedEach cell is one answer, Fidelity HSA on the left and Forma on the right.

The direct prompt

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

Fidelity HSA first, Forma an alternative

2 of 14 modelsForma was named in the answer but not as the choice, or not at all.
GPT-5.4 miniFidelity HSA alternatives: Paychex, WEX Benefits
GLM 4.7 FlashXFidelity HSA, HealthEquity alternatives: Forma, HSA Bank, WEX Health

Forma first, Fidelity HSA an alternative

3 of 14 modelsFidelity HSA was named in the answer but not as the choice, or not at all.
Mistral SmallForma, HealthEquity, WEX Health
DeepSeek V4 FlashForma, HealthEquity alternatives: Businessolver, Fidelity HSA, HSA Bank, Navia Benefit Solutions, WEX Benefits
Muse Glimmer 30BForma, HealthEquity alternatives: Businessolver, Fidelity HSA, WEX Health

Neither was the first choice, one was named

4 of 14 modelsThe answer put something else first and named one of the two as an alternative.
Gemini 3.5 FlashLively alternatives: Fidelity HSA, HealthEquity, WEX Benefits
Qwen 3.7 FlashHealthEquity alternatives: Fidelity HSA, Navia Benefit Solutions
Kimi K2Lively alternatives: Fidelity HSA, HealthEquity, Navia Benefit Solutions, WEX Benefits
MiniMax M2.5Businessolver, HealthEquity, WEX Health alternatives: Fidelity HSA, HSA Bank

Neither was named

5 of 14 modelsThe answer made no first choice from these two in this category.
Claude Haiku 4.5no first choice
Perplexity SonarHealthEquity alternatives: Businessolver, WEX Benefits
Grok 4.20HealthEquity alternatives: Businessolver, Navia Benefit Solutions, WEX Health
Llama 4 Maverickno first choice
GPT-6 LunaWEX Benefits alternatives: HealthEquity

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
Fidelity HSA leads by two points.
Fidelity HSA10%#2 of 10
Forma8%#4 of 10
The full small business standing →
Mid-marketThe figures above
Level: the same share of first choices.
Fidelity HSA7%#5 of 14
Forma7%#6 of 14
The full mid-market standing →
Enterprise
The order flips: Forma leads at enterprise.
Forma9%#3 of 13
Fidelity HSA2%#4 of 13
The full enterprise standing →

What the models said about Fidelity HSA

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

“notes that its ratings don't assess employer-negotiated HSA plans; price and features in your company's contract may differ” GPT-6 Luna · direct prompt · soft negative
“Fidelity's FSA offering is less mature than their HSA product” Claude Haiku 4.5 · comparative prompt · soft negative
“The largest HSA provider with approximately 24% market share, known for its fee-free structure, no investment minimums” MiniMax M2.5 · comparative prompt · first choice
“compare Fidelity for spending costs, HSA Bank for investing, and HealthEquity for a strong middle ground” GPT-6 Luna · comparative prompt · first choice
“Fidelity | High (only one) | Above Average | No account fees, no investment minimum, 3.56% cash rate” DeepSeek V4 Flash · comparative prompt · first choice

What the models said about Forma

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

“Emerging for flexible spending (including lifestyle accounts) but less traditional for core HSA/FSA” Grok 4.20 · direct prompt · soft negative
“If you want a unified, modern experience with HSAs, FSAs, LSAs and HRAs on one platform, Forma is the most frequently promoted option in 2026-2027 vendor lists.” Muse Glimmer 30B · direct prompt · first choice
“Forma is highlighted for its first-dollar ETF investing and human support, making it a strong choice for mid-market companies looking for a unified solution.” Mistral Small · direct prompt · first choice
Also compared
Lively vs Fidelity HSALively vs FormaHealthEquity vs Fidelity HSAHealthEquity vs FormaWEX Benefits vs Fidelity HSAWEX Benefits vs FormaWEX Health vs Fidelity HSAWEX Health vs FormaFidelity HSA vs Navia Benefit SolutionsFidelity HSA vs BusinessolverForma vs Navia Benefit SolutionsForma vs BusinessolverAll 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.