HSA and FSA administrators · November 2026 Edition
HealthEquity vs WEX Benefits
Eight of fourteen models named HealthEquity first on the direct prompt; one named WEX Benefits. HealthEquity was named by fourteen of the fourteen models and WEX Benefits by eleven and HealthEquity carries 60 labels and WEX Benefits 26, so the shares are not directly comparable.
Named in two categories this edition.
Named in three categories this edition.
First-choice share22%9%Of first choices across the direct, paraphrase, budget and scale prompts, 0 to 100.
Negative rate18%12%Negative labels as a share of the product's labels, 0 to 100.
Rank in category#2#3A position in a field of 14; printed, not drawn.
Labels6026A 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.Fidelity HSA was named alongside these two in eight of the fourteen direct answers. Lively vs HealthEquity · Lively 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 modelsWEX Benefits
Direct81
Paraphrase33
Comparative62
Budget-constrained012 against HealthEquity · 2 against WEX Benefits
Scale-constrained10
Negative009 against HealthEquity · 1 against WEX Benefits
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, HealthEquity and WEX Benefits were named in the same answer eighty-eight times, of the 186 answers naming HealthEquity and the 130 naming WEX Benefits. In those answers WEX Benefits took the first choice ten times and HealthEquity twenty-eight.
Every model, every framing
The eighty-four answers behind the chart above, one cell each: where HealthEquity and WEX Benefits 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 4.20 | | | | | | |
| 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 | | | |
HealthEquity WEX Benefits first choice named as an alternative argued againstblank: not namedEach cell is one answer, HealthEquity on the left and WEX Benefits on the right.The direct prompt
The plain question, one answer per model, grouped by where HealthEquity and WEX Benefits stood in it.
HealthEquity first, WEX Benefits an alternative
8 of 14 modelsWEX Benefits was named in the answer but not as the choice, or not at all.Perplexity SonarHealthEquity alternatives: Businessolver, WEX Benefits
Grok 4.20HealthEquity alternatives: Businessolver, Navia Benefit Solutions, WEX Health
Mistral SmallForma, HealthEquity, WEX Health
DeepSeek V4 FlashForma, HealthEquity alternatives: Businessolver, Fidelity HSA, HSA Bank, Navia Benefit Solutions, WEX Benefits
Qwen 3.7 FlashHealthEquity alternatives: Fidelity HSA, Navia Benefit Solutions
GLM 4.7 FlashXFidelity HSA, HealthEquity alternatives: Forma, HSA Bank, WEX Health
MiniMax M2.5Businessolver, HealthEquity, WEX Health alternatives: Fidelity HSA, HSA Bank
Muse Glimmer 30BForma, HealthEquity alternatives: Businessolver, Fidelity HSA, WEX Health
WEX Benefits first, HealthEquity an alternative
1 of 14 modelsHealthEquity was named in the answer but not as the choice, or not at all.GPT-6 LunaWEX Benefits alternatives: HealthEquity
Neither was the first choice, one was named
3 of 14 modelsThe answer put something else first and named one of the two as an alternative.GPT-5.4 miniFidelity HSA alternatives: Paychex, WEX Benefits
Gemini 3.5 FlashLively alternatives: Fidelity HSA, HealthEquity, WEX Benefits
Kimi K2Lively alternatives: Fidelity HSA, HealthEquity, Navia Benefit Solutions, WEX Benefits
Neither was named
2 of 14 modelsThe answer made no first choice from these two in this category.Claude Haiku 4.5no 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
WEX Benefits leads by two points.
WEX Benefits6%#5 of 10HealthEquity4%#7 of 10Mid-marketThe figures above
The order flips: HealthEquity leads at mid-market.
HealthEquity22%#2 of 14WEX Benefits9%#3 of 14Enterprise
HealthEquity leads by fifty-seven points.
HealthEquity68%#1 of 13WEX Benefits11%#2 of 13What 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.
“This is probably the most frequently complained-about administrator in this space... hundreds of BBB complaints” MiniMax M2.5 · negative prompt · hard negative
“Many traditional administrators (like HealthEquity or WEX) charge a $50–$100 monthly minimum platform fee” Gemini 3.5 Flash · budget prompt · hard negative
“By far the most frequent and severe complaints... "scam-like," "worst company," or "antagonistic."” Grok 4.20 · negative prompt · hard negative
“One of the largest dedicated administrators of health accounts in the U.S.. They handle HSAs, FSAs, HRAs, COBRA, and commuter benefits on a single portal.” Gemini 3.5 Flash · comparative prompt · first choice
“I'd recommend getting quotes from at least HealthEquity, WEX Health, and Businessolver, as these are most commonly used in the mid-market segment” MiniMax M2.5 · direct prompt · first choice
“The largest standalone HSA administrator by market share... For All-in-One Solutions (HSA + FSA): Choose HealthEquity or WEX Benefits.” Qwen 3.7 Flash · comparative prompt · first choice
What the models said about WEX Benefits
Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Six of seven in this category shown.
“Many traditional administrators (like HealthEquity or WEX) charge a $50–$100 monthly minimum platform fee” Gemini 3.5 Flash · budget prompt · hard negative
“Avoid: HealthEquity, Optum, or WEX if budget is key” Grok 4.20 · budget prompt · hard negative
“Not necessarily a poor choice, particularly for complex, FSA-heavy programs, but compare its total per-participant cost, minimums, employee account fees, and investment charges against alternatives.” Perplexity Sonar · negative prompt · soft negative
“WEX Benefits (COBRA, FSA/HSA/HRA, Commuter) - a leader in consumer-directed benefits and COBRA administration.” Llama 4 Maverick · paraphrase prompt · first choice
“If I had to pick one for a typical mid-market employer offering both HSAs and FSAs, I'd start with WEX.” GPT-6 Luna · direct prompt · first choice
“Best overall in enterprise FSA administration; strong debit-card substantiation workflows.” DeepSeek V4 Flash · comparative prompt · first choice
Also compared
Lively vs HealthEquityLively vs WEX BenefitsHealthEquity vs WEX HealthHealthEquity vs Fidelity HSAHealthEquity vs FormaHealthEquity vs Navia Benefit SolutionsHealthEquity vs BusinessolverWEX Benefits vs WEX HealthWEX Benefits vs Fidelity HSAWEX Benefits vs FormaWEX Benefits vs Navia Benefit SolutionsWEX Benefits 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.