A Health Savings Account (HSA) is a personal account designed to be used alongside a high deductible health plan (HDHP), allowing you to cover qualified out-of-pocket medical expenses with tax advantages. This account is fully owned by you and can be utilized to pay for both current and future qualified medical, prescription, dental and vision expenses for yourself and your eligible dependents.

Important HSA information

  • Review important key dates about the HSA transition to Fidelity.
  • Understand the important actions required to:
    • Enroll in the HSA and transfer your Smart-Choice balance to Fidelity, during the Open Enrollment period.
    • Activate your Fidelity HSA.
    • Liquidate your investments into cash and turn off automatic transfers by January 10, 2025.
    • Select investments.
    • Designate your beneficiary.
  • Your elections from 2024 will not carryover. You must actively enroll in the HSA during Open Enrollment in order to contribute and receive the Thermo Fisher company contribution.
  • Don’t miss out on free money! If you elect the Basic or Core HDHP medical plan with HSA for 2025 you are eligible for a company contribution to your HSA. To receive the company contribution, you must open a Fidelity HSA during Open Enrollment even if you choose not to make your own contributions.
  • If you have a Smart-Choice balance but do not elect to participate in an HDHP plan with an HSA in 2025 during Open Enrollment, you cannot transfer your Smart-Choice balance to Fidelity as part of the group transfer.*
  • Your HSA investing choices include more than 10,000 mutual funds, individual stocks and bonds, CDs and ETFs on Fidelity’s brokerage platform.
  • HSA contributions without an investment election on file are placed in a Fidelity® Government Cash Reserves† account to help you grow your money.
  • Starting in 2025, your paycheck will show two separate pre-tax deductions lines if you change your medical coverage between employee only and family during the year. (For HSA purposes, family coverage includes EE+ spouse, EE + children and family coverage) – Your contributions will all go to your one HSA account.
  • Review the resources below to learn more about your Fidelity HSA.

 

*Smart-Choice will charge a fee for an individual transfer.

†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 a bank account and 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, are not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.

Fidelity’s government and U.S. Treasury money market funds will not impose a fee upon the sale of your shares.

HSA Guide & FAQs

Your guide to understanding your new Fidelity HSA.