fidelity hsa fees 2026 Checklist (2026) | HSA Tracker

Confirm $0 individual/direct account maintenance fees for your Fidelity HSA.

Fidelity's commitment to $0 account maintenance fees for direct accounts means more of your money goes towards healthcare savings or investments, rather than administrative costs. This is a significant advantage over providers that charge monthly or annual fees, directly impacting your long-term balance.

Review Fidelity Go HSA advisory fees, if applicable to your account.

If you utilize Fidelity Go for managed investments, understanding the 0.35% annual advisory fee on balances $25,000+ (and $0 below that) is essential. This fee is for professional management, and you should ensure the value it provides aligns with your financial strategy and investment comfort level.

Check for any employer-passed recordkeeping fees for Fidelity Workplace HSAs.

While employees typically pay $0 for workplace HSAs, some employers may pass on recordkeeping fees up to $48/year or $12/quarter. Confirming this with your HR or plan documents helps you understand the true cost of your employer-provided HSA, which can influence your budgeting.

Verify $0 commissions on US stock and ETF trades within your HSA.

Fidelity's $0 commission structure for US stocks and ETFs allows you to invest your HSA funds without incurring trading costs, which can significantly improve your net returns, especially if you plan to actively manage your investments. This makes investing your HSA more accessible and cost-effective.

Understand that mutual fund expense ratios still apply to chosen funds.

Even with commission-free trading, mutual funds have underlying expense ratios. These ongoing fees are deducted from the fund's assets and can erode returns over time. It's vital to research and choose low-cost mutual funds to maximize the growth of your HSA investments.

Confirm your High-Deductible Health Plan (HDHP) meets the 2026 minimum deductible for self-only coverage.

To be eligible for an HSA in 2026, your HDHP must have a minimum deductible of $1,700 for self-only coverage. Failing to meet this minimum means you cannot contribute to an HSA, regardless of your intent, leading to potential penalties on contributions.

Confirm your HDHP meets the 2026 minimum deductible for family coverage.

For family coverage, your HDHP must have a minimum deductible of $3,400 in 2026 to qualify you for HSA contributions. This threshold is crucial for families looking to leverage the significant tax benefits of an HSA for their healthcare expenses.

Verify your HDHP's out-of-pocket maximum for self-only coverage is within 2026 limits.

The out-of-pocket maximum for a self-only HDHP cannot exceed $8,500 in 2026. Exceeding this limit disqualifies your plan as an HDHP, making you ineligible for HSA contributions. This protects against plans with excessively high patient costs.

Verify your HDHP's out-of-pocket maximum for family coverage is within 2026 limits.

For family coverage, the HDHP out-of-pocket maximum cannot exceed $17,000 in 2026. This limit is vital for families to ensure their plan qualifies and to prevent unexpected high healthcare costs, while also maintaining HSA eligibility.

Plan your 2026 self-only HSA contributions to not exceed $4,400.

The IRS sets a strict annual contribution limit of $4,400 for self-only coverage in 2026. Overcontributing can lead to a 6% excise tax on the excess amount, plus income tax, eroding your tax-advantaged savings. Accurate planning is key.

Plan your 2026 family HSA contributions to not exceed $8,750.

For families, the 2026 HSA contribution limit is $8,750. Exceeding this limit, even accidentally, triggers penalties. Coordinating contributions, especially if both spouses contribute, is important to stay within this maximum and avoid tax issues.

Include the additional $1,000 catch-up contribution if age 55+ and not on Medicare.

Individuals aged 55 and older (and not enrolled in Medicare) can contribute an extra $1,000 annually. This catch-up contribution significantly boosts retirement healthcare savings, making it an important tool for those nearing retirement to maximize their HSA potential.

Review Fidelity's range of commission-free ETFs and stocks for investment opportunities.

Taking advantage of Fidelity's $0 commission structure for US stocks and ETFs allows you to build a diversified investment portfolio within your HSA without incurring trading costs. This can lead to greater capital appreciation over time, as more of your money remains invested.

Evaluate mutual fund expense ratios for any actively managed funds you select.

While Fidelity offers many low-cost options, actively managed mutual funds can have higher expense ratios. These fees impact your net returns, so it's essential to compare funds and choose those with competitive expense ratios that align with your investment goals.

Consider Fidelity's competitive cash interest rate for funds you keep liquid.

With Fidelity's money market offering a 3.37% 7-day yield (as of 4/2/2026), your uninvested HSA cash can still earn a significant return. This is especially beneficial for funds you anticipate using for near-term healthcare expenses, outperforming many other HSA providers' cash rates.

Regularly monitor the performance of your HSA investments.

Periodically reviewing your investment performance ensures your portfolio is on track to meet your long-term healthcare savings goals. Adjustments may be necessary based on market conditions or changes in your financial situation, helping you stay proactive.

Diversify your HSA investments based on your risk tolerance and time horizon.

Just like any other investment account, diversifying your HSA investments across different asset classes (stocks, bonds, mutual funds) can help mitigate risk and enhance returns. Aligning your portfolio with your risk tolerance is key to comfortable long-term growth.

Take advantage of any fee waivers or special offers on Fidelity HSA funds.

Fidelity occasionally offers fee waivers or promotions, such as the transaction fee waiver on select Fidelity HSA Funds to Consider until October 31, 2026. Staying informed about these offers can help you reduce costs and maximize your investment efficiency.

Ensure all HSA withdrawals are for qualified medical expenses.

Using HSA funds for non-qualified expenses before age 65 incurs a 20% penalty plus income tax. This is a severe financial hit. Always verify expenses against the IRS list of qualified medical expenses to maintain the tax-free status of your withdrawals.

Keep meticulous records of all medical receipts and HSA distributions.

In the event of an IRS audit, you must be able to prove that all HSA distributions were for qualified medical expenses. Maintaining detailed records (digital or physical) is essential for demonstrating compliance and avoiding penalties.

Be aware of the 6% excise tax on excess contributions.

If you contribute more than the annual limit (including catch-up contributions), the excess amount is subject to a 6% excise tax each year it remains in the account, in addition to being taxable income. Proactive monitoring prevents this costly error.

Understand that non-qualified withdrawals after age 65 are only subject to income tax.

After age 65, your HSA acts like a traditional IRA. While withdrawals for non-qualified expenses are subject to income tax, the 20% penalty is waived. This flexibility makes the HSA an excellent retirement savings vehicle, but it's important to know the tax implications.

Consider using your HSA as a long-term retirement savings vehicle.

The triple tax advantage makes HSAs ideal for retirement healthcare costs. By paying for current medical expenses out-of-pocket and letting your HSA grow, you can accumulate substantial tax-free funds for healthcare in retirement.

Review your annual HSA statement from Fidelity.

Your annual statement provides a summary of your contributions, distributions, and investment performance. Reviewing it helps you verify accuracy, track your progress, and identify any discrepancies that need addressing, ensuring your records align with Fidelity's.

Compare your Fidelity HSA's performance and fees with other providers periodically.

While Fidelity leads in many areas, periodically comparing its offerings (including fees, investment options, and cash rates) with other HSA providers ensures you're always getting the best value. This due diligence helps you confirm Fidelity remains the optimal choice for your needs.

Adjust your contribution strategy based on life events (e.g., family status changes, age 55).

Life events can impact your HSA eligibility and contribution limits. Getting married, having children, or turning 55 means you might qualify for higher contribution limits (like the family limit or catch-up contribution). Adjusting your strategy ensures you maximize these opportunities.

Educate yourself on eligible expenses, including new or evolving categories like mental health or fitness.

The list of HSA-eligible expenses can evolve, sometimes including categories like mental health services or even certain fitness programs if prescribed. Staying informed allows you to confidently use your HSA for a broader range of qualified healthcare needs, maximizing its utility.

Consider funding your HSA to cover your HDHP deductible as a financial safety net.

Having enough funds in your HSA to cover your annual HDHP deductible (e.g., $1,700 for self-only or $3,400 for family in 2026) provides a crucial financial safety net. This ensures you can meet unexpected medical costs without dipping into other savings or incurring debt.