As health savings accounts have grown in use, now accounting for more than $60 billion in assets, Morningstar decided to take a look at the 11 largest HSA providers as a means of helping investors choose the best one for their needs. According to Morningstar, these rankings "represent the best choices for individuals as opposed to employers, where fees are often negotiable based on a number of factors." The providers were ranked for two separate categories: HSAs as a spending account to cover current medical costs, and HSAs as an investment account to save for future medical expenses. RELATED: 8 health savings account headaches -- and their solutions While HSAs have come a long way, there's still plenty of room for improvement. In fact, says Morningstar, "Only one provider earns positive marks across the board as a spending account, and none meet that standard as an investing account." In addition, there are pervasive issues with transparency, fees vary widely, and investors are usually stuck having to keep money in the checking account before they can invest. READ MORE:

• HSAs can be a tool in planning for retirement health needs
• 10 HSA questions employees and employers ask
• 7 not-so-positive factors affecting the future of HSAs