In its announcement, Fidelity said services it will provide include:
- Employee health plan selection support tools;
- An HSA based on the IRS model;
- HSA recordkeeping services;
- Access to Fidelity funds as investment options for the HSA; and
- Web and call center support for employers and employees.
For Fidelity’s outsourcing services clients, the Fidelity HSA will integrate with the suite of retirement planning tools, and specifically for Health & Welfare customers, includes integrated enrollment with the medical plan, health plan enrollment support, and the Flexible Savings Account.
HSAs are offered in combination with high deductible health plans (HDHPs) and allow for tax-free contributions from both employee and employer, portability of the account, and accumulation of account money from year to year.
Fidelity’s Web site is www.fidelity.com .