26 May 2022

Health Saving Account

Your Health Savings Account can be used for IRS-approved medical expenses for yourself, spouse and eligible dependents. Enrolling in an HSA helps you save money tax free . Your account can potentially grow as you have the option to change your contribution amount at any given moment and invest your funds. If you do not utilize your available funds for any qualified medical expenses, your balance will roll over year to year and can be invested for medical expenses during retirement.

It is highly recommended once you have enrolled in a HSA medical plan to activate your account with Fidelity, and explore your HSA benefits. You will have the opportunity to also transfer savings from previous HSA providers. If your account with Fidelity remains unopen, your funds will be held temporarily for 90 days and returned to sender. Consolidating your previous HSAs with your Fidelity HSA helps facilitate access and manage your benefits in one account through www.NetBenefits.com

Please, keep in mind there is an annual limitation to your contributions. In the event you have contributed more or are reaching the maximum of the IRS-allowed limit to your account, you will receive an email requesting you to either 1) review your contributions rate or 2) return excess and stop contributions.

Please, click on Benefits of HSA and Potential of an HSA to explore and discover more about Health Savings Account.

For additional assistance, please contact our benefits team or Fidelity at: 800-544-3716.