Health savings accounts for self-employed and small businesses

Easy to open, easy to offer, and even more potential tax savings when you’re both employer and employee.

Why a Fidelity HSA® may make sense if you’re self-employed or a small business

Qualifying is easy

Any small business with an HSA-eligible health plan can offer a Fidelity HSA®.

Self-employment tax savings

Save a total of 15.3% in FICA taxes for contributions since you’re paying as both employer and employee.1

It’s not “use it or lose it”

Spend now or invest in your future. Balances can carry over from year to year and be invested.

Consider the award-winning2 Fidelity HSA® for your growing business

Offering a Fidelity HSA® can help you attract and retain top talent and stay competitive with larger firms by connecting employees to important benefits.

Triple-tax advantage3

Contributions, growth on investments, and withdrawals for qualified health care expenses are all tax-free.

Learn about tax benefits for HSA participants

No fees for employers or employees4

A self-directed Fidelity HSA® costs employers $0; employees pay $0 for account fees and administrative services.

Compare common HSA fees from other providers

It's easy to get started

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Learn about the benefits

Explore how to contribute, invest, or transfer an HSA.

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Share the benefits with colleagues or employees

Use this email template (OFT) and share the advantages of saving with an HSA (PDF) and The first year in an HSA (PDF).

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Set up payroll contributions

Learn how to set up payroll contributions for those enrolled in a Fidelity HSA® (if applicable).

Make a Fidelity HSA® part of your business



  • Can I open an HSA for my employees?

    Your employees can easily open an HSA on their own. Once they do, they can set up payroll deductions by providing their account number to you.

  • How many employees do I need to be considered a small business?

    There’s no set number for what’s considered a small business. If you’re self-employed, you can open and contribute to an HSA if you’re enrolled in an HSA-eligible health plan. Keep in mind you’re not eligible if your only coverage is under your spouse’s health insurance plan, and that plan is not HSA-eligible, you’re claimed as a dependent on someone else’s tax return, or you’re covered by Medicare or Medicaid.

  • How do I set up an HSA for my small business?

    First, you’ll want to confirm that you offer an HSA-eligible health plan for your employees. This is a high-deductible health plan (HDHP) and it’s important to remember that not all HDHPs are HSA-eligible.

    Next, if your goal is for your employees to contribute to their HSA on a pre-tax basis, you’ll need to establish something that’s referred to as an HSA cafeteria plan. It’s called a cafeteria plan because employees can pick and choose the benefits they want. This type of plan allows your employees to pay certain expenses with pretax income.

    If you don’t set up a cafeteria plan, your employees can contribute to an HSA with after-tax dollars. This means when they file their taxes, they can claim the deduction—but they won’t benefit from the added savings on Social Security and Medicare taxes.

  • How does an employee/employer contribute to an HSA?

    Employees generally contribute through payroll deduction, but an employer can also choose to contribute to their employee’s HSA. Any employer contribution counts towards the HSA limit and there is no minimum contribution amount. As the employer, you also have the option of funding the entire annual contribution limit for the year. In addition, you may be able to deduct any employer contributions as a company business expense.

    For 2023, the IRS contribution limits for HSAs are $3,850 for individual coverage and $7,750 for family coverage. For 2024, HSA contribution limits are $4,150 for individual health plans and $8,300 for family health plans. If you're 55 or older during the tax year, you may be able to make a catch-up contribution of up to $1,000 per year. Spouses age 55 or older can also make a catch-up contribution, but will need to open their own HSA.

Contact us if you already have a relationship with Fidelity for