Question 1

What is the Fidelity HSA routing number for direct deposits?

Accepted Answer

The Fidelity HSA routing number for deposits is 101205681. This number is used exclusively for initiating deposits into your Fidelity HSA via ACH transfers, including payroll direct deposit and bank transfers. It is important to note that this routing number is not for spending or debit card transactions. For those functions, you would use your Fidelity HSA debit card or checkwriting features linked to your specific account.

Question 2

How do I find my full Fidelity HSA account number for direct deposit setup?

Accepted Answer

Your full account number for direct deposit is not just your brokerage account number. Fidelity requires a specific prefix. For personal HSA contributions via bank transfer, use the prefix 39900000 followed by your 9-digit Fidelity brokerage account number. If you are setting up payroll deductions through your employer, you may need to use the prefix 39900001 followed by your account number.

Question 3

Can I use my Fidelity HSA routing number for bill pay or spending?

Accepted Answer

No, you cannot use the Fidelity HSA routing number 101205681 for spending or bill pay. This routing number is designated only for depositing funds into your HSA. To spend from your HSA, you should use your Fidelity HSA debit card for eligible expenses, write a check from your HSA checkbook if you have one, or initiate a transfer from your HSA to your linked bank account. Treating the deposit routing number as a checking account for withdrawals will result in failed transactions.

Question 4

What are the different ways I can contribute money to my Fidelity HSA?

Accepted Answer

Fidelity provides five primary methods to contribute to your HSA. You can do a bank transfer (ACH) using the routing and account numbers, make a mobile check deposit through the Fidelity app, transfer funds from an existing HSA at another provider, make a one-time contribution from an IRA (subject to IRS rules), or mail a check to Fidelity Investments, P.O. Box 770001, Cincinnati, OH 45277-0047. For mailed checks, you must write your account number and the applicable tax year in the memo line.

Question 5

Does Fidelity charge any fees for having an HSA?

Accepted Answer

Fidelity charges no opening or maintenance fees for its standard Fidelity HSA or its managed Fidelity Go HSA. This makes it a popular choice for individuals looking to avoid the monthly fees common with some other providers. For the Fidelity Go HSA, which provides automated investment management, there is a minimum balance of $10 to begin investing. Always review the latest fee schedule on Fidelity's website for any potential transaction-specific fees.

Question 6

Who should I call if I have questions about my Fidelity HSA or debit card?

Accepted Answer

For general questions about your Fidelity HSA, including contributions, transfers, and account setup, you can call 800-544-3716. If you are experiencing issues specifically with your Fidelity HSA debit card, such as a lost card, a declined transaction, or a PIN reset, you should contact the dedicated debit card service line at 888-377-0323. Having your account number ready will help expedite service.

Question 7

How are my HSA contributions reported on my taxes?

Accepted Answer

HSA contributions have specific tax reporting. Pre-tax contributions made through your employer's payroll are reported in Box 12 of your Form W-2, using Code W. This amount is not included in your Box 1 wages. Contributions you make directly to Fidelity (post-tax) must be reported on your personal tax return (Form 8889) to claim the above-the-line deduction. It is your responsibility to track all contributions, as the IRS combines employer and employee contributions for the annual limit.

Question 8

What is the Fidelity HSA routing number?

Accepted Answer

The Fidelity HSA routing number is 101205681. This number is used solely for depositing funds into your Health Savings Account via ACH transfers. It is not associated with checking or spending functions from the account.

Question 9

How do I format my Fidelity HSA account number for my employer's payroll?

Accepted Answer

For payroll, you typically need to combine a prefix with your account number. Use 39900001 followed by your 9-digit Fidelity brokerage account number. Some payroll systems may require the prefix 39900000. Confirm the exact required string with your HR or benefits department to avoid failed deposits.

Question 10

Can I transfer an existing FSA into a Fidelity HSA?

Accepted Answer

No, you cannot transfer a Flexible Spending Account (FSA) into a Health Savings Account (HSA). FSAs and HSAs are governed by different IRS rules. You can, however, transfer an existing HSA from another provider into a Fidelity HSA through a direct trustee-to-trustee transfer to avoid taxes and penalties.

Question 11

What is the mailing address to send a contribution check?

Accepted Answer

Mail checks for HSA contributions to: Fidelity Investments, P.O. Box 770001, Cincinnati, OH 45277-0047. It is critical to write your Fidelity HSA account number and the tax year for the contribution (e.g., '2026 HSA') on the memo line of the check.

Question 12

Are there any minimums to open a Fidelity HSA?

Accepted Answer

There is no minimum balance required to open a Fidelity HSA. There are also no account opening or maintenance fees. To use the Fidelity Go HSA investment option, however, you need a minimum balance of $10 in the account to begin the automated investment service.

Question 13

How do I get a debit card for my Fidelity HSA?

Accepted Answer

A debit card is typically sent to you automatically after you open your Fidelity HSA. If you did not receive one or need a replacement, you can request it through your online account dashboard or by calling Fidelity customer service at 800-544-3716.

Question 14

Where do I see my HSA contributions on my W-2 form?

Accepted Answer

Pre-tax HSA contributions made through your employer's payroll system are reported in Box 12 of your Form W-2. Look for Code W in this box. The amount shown here is excluded from your taxable income in Box 1.

Question 15

Is my employer's HSA program covered by ERISA?

Accepted Answer

No, Health Savings Accounts (HSAs) are not ERISA-governed plans. This means your employer does not file a Form 5500 for the HSA program. The HSA is an individual account owned by you, even if contributions are made through payroll.

Question 16

What happens if I contribute too much to my HSA?

Accepted Answer

If you exceed the IRS annual contribution limit, you must remove the excess contributions and any associated earnings before your tax filing deadline to avoid a 6% excise tax. You report this removal on Form 5329 and include the earnings as taxable income.

Question 17

Can I use my Fidelity HSA to pay for dental and vision expenses?

Accepted Answer

Yes, you can use your Fidelity HSA funds tax-free for eligible dental and vision care expenses. This includes treatments like fillings, crowns, eyeglasses, contact lenses, and LASIK surgery. Always keep receipts in case of an IRS audit.

Question 18

How do I start investing my Fidelity HSA funds?

Accepted Answer

To invest, you must first move money from the core cash position in your HSA into specific investment choices. You can do this manually by selecting from Fidelity's fund lineup online or through the app. For a hands-off approach, the Fidelity Go HSA automatically invests your money based on your goals for a fee, once you have at least $10.

Question 19

What is the difference between the Fidelity HSA and Fidelity Go HSA?

Accepted Answer

The standard Fidelity HSA gives you full control to invest in any available Fidelity funds, ETFs, or stocks. The Fidelity Go HSA is a managed account where Fidelity's professionals select and manage a portfolio for you based on a questionnaire, for an all-in fee that covers management and the underlying funds.

Question 20

Should I pay for current medical expenses or invest my HSA money?

Accepted Answer

This is a key strategy question. If you can afford to pay current medical bills out-of-pocket, leaving your HSA funds invested allows them to grow tax-free for future healthcare costs, effectively turning your HSA into a powerful retirement savings tool. You can always reimburse yourself for those paid expenses later, tax-free.

Question 21

Are HSA investment earnings taxable?

Accepted Answer

No, investment earnings within an HSA are not taxable as long as the money remains in the account. Withdrawals for qualified medical expenses are also tax-free. This triple tax advantage is a major benefit for long-term savers.

Question 22

Can I use my HSA to save for Medicare premiums in retirement?

Accepted Answer

Yes. After age 65, you can use HSA funds tax-free to pay for Medicare Part B, Part D, and Medicare Advantage plan premiums. You cannot use HSA funds to pay for Medigap (supplemental) premiums. This makes the HSA a valuable tool for covering healthcare costs later in life.

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