How to contribute to an HSA - HSA contribution limits

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You may have other HSAs, in addition to your Fidelity personal HSA, such as one offered by your employer. If so, it's simple to transfer some or all of your money between HSAs to consolidate them or to take advantage of Fidelity's added HSA investing options and guidance.

Your guide to transferring assets to Fidelity

* Please keep in mind that all of your contributions to all of your HSAs will count together toward the IRS's annual contribution limits. Having more than one HSA does not increase your annual contribution limits.

If you're covered by an eligible health plan, you can contribute to your HSA in several ways.

Use electronic funds transfer (EFT) or electronic direct deposit. Make one-time or recurring direct deposits from a linked bank account for added flexibility. You can update your recurring direct deposit amounts any time.
Transfer funds from an existing Fidelity account. Make a one-time contribution from an eligible Fidelity account to your HSA. For your convenience, you can also setup automatic transfers on a recurring schedule.
Deposit a check. You can deposit it via mail or through our mobile app.
- With the mobile app: Snap a photo of your check to make a one-time deposit into your HSA using the app.
- Mail in a check. Write a check payable to Fidelity Management Trust Company for the benefit of [your name]. Include your account number and the contribution tax year in the check memo field.
  - For USPS, send to Fidelity Investments, P.O. Box 770001, Cincinnati, OH 45277-0047
  - For overnight delivery, send to Fidelity Investments, 100 Crosby Parkway, KC1H, Covington, KY 41015-4325

Your guide to moving money at Fidelity

What about payroll deductions?
In some cases, employers may allow automatic pre-tax payroll contributions to a personal Fidelity HSA. Check with your employer to see if that’s an option for you.

The Fidelity HSA routing number for direct deposit is 101205681.

Since most high-deductible health plans (HDHPs) have lower premiums than traditional health plans, and because HSA contributions are federal income tax-deductible, HSAs help you save more money to pay for your family’s health care costs.

An HSA contribution from an IRA is a once-in-a-lifetime money transfer option. These IRA contributions are not subject to federal income taxes or the 10% penalty for early withdrawals. This means you can use your IRA money to pay for medical expenses, such as a major unexpected expense, without having to pay federal income taxes or penalties on it.

However, contributions from an IRA will count toward the IRS's annual limits on HSA contributions, and that money is not tax-deductible.

What about inherited IRAs?
You can make a one-time contribution to an HSA using your inherited IRA, but the rules noted above apply.

The distribution from the inherited IRA will count towards your required minimum distribution (RMD) for the year, meaning you won't pay taxes on the amount moved to the HSA. Note: This generally only helps younger beneficiaries since you cannot contribute to an HSA once you're covered by Medicare.

If you have an existing HSA, you are eligible to open a new one with a different financial institution and transfer your account at any time.

Fidelity's online guide to transferring assets can help you through the process and you can sign up to receive alerts during important steps.^1,2 Because the transfer process can vary between institutions, check with your current provider for specific transfer instructions.

Please note:

Your existing HSA may be held in 2 separate accounts, both of which are eligible to be transferred.
- A bank account holding your cash balance
- A brokerage account holding your investments
A separate transfer request may be required for each type of account. Your current HSA provider will be able to help you determine the right process.
Some financial institutions do not allow in-kind transfers of investments held in an HSA. Contact your current provider to learn more about your options.

1. Depending on your current HSA provider's transfer process, an HSA transfer may take up to 3 weeks to complete.

2. Some financial institutions may require paper forms to initiate a transfer.

Please keep in mind that all of your contributions to all of your HSAs will count together toward the IRS's annual contribution limits. Having more than one HSA does not increase your annual contribution limits.

	2021	2022
Individual health plan	$3,600	$3,650
Family health plan	$7,200	$7,300
Age 55 or older^†	Additional $1,000	Additional $1,000

Save for health care expenses

How can you put money into your HSA?

Contribute cash

Transfer HSAs

One-time IRA contribution

Annual HSA contribution limits

How much can you save each year?

Ready to get started?

Already have a Fidelity HSA?

Mutual Funds and Mutual Fund Investing - Fidelity Investments