Health Savings Account | HSA Benefits

About HSA investing

You can choose to invest some or all of your HSA money for potential growth. It's a great way to prepare for health care costs in retirement. Fidelity HSAs are brokerage accounts, giving you more options for simple, seamless investing of your HSA money in a range of mutual funds, stocks, bonds, ETFs, Treasuries, and more.

If you're looking for help investing, we also offer the Fidelity Go^® HSA—it's an easy, affordable way to enjoy the benefits or professional money management.

Go to Investing your HSA

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Learn more about your options if you're:

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HSA-eligible health plans

To be eligible to contribute to an HSA, you must be covered by an HSA-eligible, high-deductible health plan (HDHP). Each year, the IRS sets the required minimum deductible and maximum out-of-pocket amounts for a plan to be considered eligible.

HDHP minimum deductibles:

	Individual plan	Family plan
2022	$1,400	$2,800
2023	$1,500	$3,000

Out-of-pocket maximum amounts:

	Individual plan	Family plan
2022	$7,050	$14,100
2023	$7,500	$15,000

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HSA ownership

Your HSA money stays with you, even if you move to a different state, change employers or become unemployed, or change health plans.

Keep in mind if you become covered by an HSA-ineligible health plan, such as Medicare, you will no longer be able to make future contributions to your HSA without being taxed and penalized, but you can still use your existing HSA balance to pay for qualified medical expenses.

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HSA tax benefits

Here are the 3 tax advantages HSAs offer:*

Contributing: Any post-tax money you contribute to an HSA is tax-deductible, up to the IRS limit. If payroll deduction is an option for you, those contributions are usually pre-tax.
Spending: Using your HSA money to pay for qualified medical expenses is always free from federal income taxes.
Investing: If you choose to invest your HSA money, any growth is free from federal income taxes.

* With respect to federal taxation only. Contributions, investment earnings, and distributions may or may not be subject to state taxation.

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HSAs vs. FSAs

Features	HSA	FSA
You own your account, not your employer.		--
Contributions you make to your account may be pre-tax.
Contributions you make to your account are tax-deductible.		--
The money in your account stays with you, no matter what.		--
The account can be good for long-term savings.		--
You can invest the money for potential tax-free growth.		--
You can spend the money tax-free on qualified medical expenses.
If you lose your job, the money can cover your COBRA costs.		--
The account covers your qualified medical costs in retirement.		--

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Ineligible health plans

Generally, you are not eligible to open or contribute to an HSA if you are covered under a health plan that is not a high-deductible health plan (non-HDHP).

HSA-ineligible health plans include:

A spouse's non-HDHP coverage that covers you
Medicare or Tricare
Veterans Affairs (VA) medical benefits received during the previous 3 months
A general-purpose health flexible spending account (FSA) or health reimbursement arrangement (HRA), including coverage through your spouse, that pays or reimburses medical expenses before you meet your HSA-eligible health plan’s deductible

Have questions? See IRS Publication 969 (PDF), or consult with your tax advisor.

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Investing options

Fidelity offers several HSA investing choices that do not require a minimum balance or have transaction fees.

Plus, we provide experienced investing guidance to help you choose and manage your investments.

Go to Investing your HSA

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Online resources

Fidelity BillPay^® helps you manage your expenses.

Also, it’s important to retain your health care documents as you use your HSA. FidSafe^® helps you store your documents and receipts securely online.

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Personal HSA flexibility

If your employer doesn’t offer an HSA, consider Fidelity’s personal HSA. Since it’s an individual account, you get the flexibility to take it with you if you move to a different state or change jobs.

You could also use it in place of an employer HSA. If you do this, you may miss out on opportunities like pre-tax payroll or employer contributions, so check with your employer to see what they offer. If your employer offers an HSA through Fidelity, you can follow their procedures to open your account.

Looking for your Fidelity employer-provided HSA? Log into NetBenefits^®Log In Required.

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Fee details

As with investing in any brokerage account, investing your HSA money may involve fund-specific fees.

If you have a Fidelity HSA through your employer, that may have other administration fees.

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HSA transfers

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.
Transfers directly into a Fidelity Go^® HSA must be made in cash, but you can transfer securities you don't wish to liquidate into a self-directed HSA first.

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.

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Core positions for a Fidelity HSA^®

Opening a Fidelity account automatically establishes a core position which is needed for processing cash transactions such as deposits and withdrawals in and out of your account. Think of it like a wallet that you can access for trading, investing, or withdrawals. A benefit of the core position is that it allows you to earn interest or a yield, depending on which core option you choose.

What are the options for my core position?

When you open a new Fidelity HSA^®, we automatically put your uninvested cash into the Fidelity^® Government Cash Reserves but you can also choose another cash option. Understanding the differences between your core options can help you make the choice that's right for you. Below are the HSA core options available to you:

Fidelity^® Government Cash Reserves (FDRXX) money market fund*

Money market funds are mutual funds that invest in short-term debt securities issued by short-term, high-quality entities that borrow money to repay principal and interest to investors within a short time period. Money market funds have different characteristics than a bank sweep so read the fund's prospectus carefully.

or

Fidelity's FDIC Insured Deposit Sweep Program.^†

Through the program, the uninvested cash balance is swept to one or more program banks where it is eligible for FDIC insurance. For more information, please refer to the FDIC-Insured Deposit Sweep Program Disclosure (PDF) and the Fidelity Health Savings Account (HSA) Program Banks list.

What are the interest rates or yields on my Fidelity HSA^® core position options?
Interest rates or yields may vary due to market conditions. View the latest.

How do I change my core position?

The option to choose your position appears during account opening however, you can also change it at any time.

Log in to Fidelity.com and select your HSA account. In the Positions tab, select Core or Cash.
Select the Change core position button.
Select FDIC or Fidelity Cash Reserves (FORXX), then click "Preview order," and "Submit."

Switching is free and will not change your ability to access or invest this money.

1. You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund’s sponsor, have no legal obligation to provide financial support to money market funds and you should not expect that the sponsor will provide financial support to the fund at any time.

Fidelity’s government and U.S. Treasury money market funds will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund's weekly liquid assets fall below 30% of its total assets because of market conditions or other factors

2. Under the Fidelity FDIC Deposit Sweep Program, uninvested cash balance is swept to one or more Program Banks where it earns a variable rate of interest and is eligible for FDIC insurance. At a minimum, there are five banks available to accept these deposits, making customers eligible for nearly $1,250,000 of FDIC insurance. If the number of available banks changes, or you elect not to use, and/or have existing assets at, one or more of the available banks, the actual amount could be higher or lower. Customers are responsible for monitoring their total assets at each of the Program Banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits at Program Banks are not covered by SIPC.

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Common HSA fees

Common fees charged by HSA providers	Fidelity HSA^® fees*	Fidelity Go^® HSA fees
Account closure	$0	$0
Advisory fee	N/A	Varies based on account balance
Check copies, stop payment	$0	N/A
Checkbook orders	$0	N/A
Debit card orders/use	$0	N/A
Fees to invest	$0^†	$0^Δ
Online trading	$0	N/A
Overdraft	$0	N/A
Paper statements	$0	N/A
Rebalancing	N/A	$0
Returned checks	$0	N/A
Transaction	$0^†	$0

* Fidelity does not charge account fees to HSA account holders but commissions and other expenses associated with transacting or holding specific investments (e.g., mutual funds) may apply. Refer to the fees and commission schedule for additional detail at https://www.fidelity.com/trading/commissions-margin-rates. Fidelity does charge a recordkeeping fee to employers who offer a Fidelity HSA to their employees. This is a common fee charged by HSA providers. Employers may choose to pass that fee on to their employees. At Fidelity, that fee may be up to $48/year, but it could be reduced or waived depending on the HSA balance.

† Fidelity does not charge fees to invest your HSA. Certain investment transactions may result in commission charges or transaction fees (please see https://www.fidelity.com/trading/commissions-margin-rates.)

Δ Fidelity Go accounts invest in zero expense ratio Fidelity Flex^® mutual funds that do not charge management fees or, with limited exceptions, fund expenses. The Fidelity Go program's advisory fee does not cover a regulatory charge of a few cents per $1,000 of securities sold to fund the managed account (to the extent applicable). For details, review the Fidelity Go Program Fundamentals, available online.

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Health insurer

Interested in learning more about the Fidelity HSA^® for your members?

Send us an email and we'll respond by the next business day.

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Broker or consultant

Interested in learning more about the Fidelity HSA^® for your clients?

Send us an email and we'll respond by the next business day.

Health savings accounts

How can an HSA benefit you?

Triple tax advantages¹

It's investable

It's your money

Who's eligible?

You can open and contribute to an HSA if:

What if I already have an HSA?

Choose from 2 different HSAs

How much does it cost?

Common fees charged by HSA providers

Fidelity's fees³

The Fidelity HSA^®

Did you know an HSA gives you more options?

HSAs are different from FSAs

HSAs are not always employer-offered

Ready to get started?

Already have a Fidelity HSA?

About HSA investing

HSA-eligible health plans

HSA ownership

HSA tax benefits

HSAs vs. FSAs

Ineligible health plans

Investing options

Online resources

Personal HSA flexibility

Fee details

HSA transfers

Core positions for a Fidelity HSA^®

Common HSA fees

Health insurer

Broker or consultant

Common fees charged by HSA providers	Fidelity's fees³
Account opening	$0
Administration	$0
Excess contribution reimbursement	$0

Mutual Funds and Mutual Fund Investing - Fidelity Investments

Health savings accounts

How can an HSA benefit you?

Triple tax advantages1

It's investable

It's your money

Who's eligible?

You can open and contribute to an HSA if:

What if I already have an HSA?

Choose from 2 different HSAs

How much does it cost?

Common fees charged by HSA providers

Fidelity's fees3

The Fidelity HSA®

Did you know an HSA gives you more options?

HSAs are different from FSAs

HSAs are not always employer-offered

Ready to get started?

Already have a Fidelity HSA?

About HSA investing

HSA-eligible health plans

HSA ownership

HSA tax benefits

HSAs vs. FSAs

Ineligible health plans

Investing options

Online resources

Personal HSA flexibility

Fee details

HSA transfers

Core positions for a Fidelity HSA®

Common HSA fees

Health insurer

Broker or consultant

Triple tax advantages¹

Fidelity's fees³

The Fidelity HSA^®

Core positions for a Fidelity HSA^®