Can an Individual Open a Fidelity HSA?

If you are considering opening a Health Savings Account (HSA), you may wonder if you can do so with Fidelity. The good news is that yes, individuals can open a Fidelity HSA. This type of account offers a tax-advantaged way to save for medical expenses, making it a popular choice for many people.

There are several benefits to opening a Fidelity HSA:

• Tax advantages: Contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified medical expenses are also tax-free.
• Investment options: Fidelity offers a range of investment options, allowing you to potentially grow your HSA funds over time.
• No use-it-or-lose-it rule: Unlike Flexible Spending Accounts (FSAs), HSA funds rollover year after year, so you don't have to worry about losing unused funds.

To open a Fidelity HSA, you typically need to meet certain eligibility requirements:

• Be covered by a High Deductible Health Plan (HDHP)
• Not be enrolled in Medicare
• Cannot be claimed as a dependent on someone else's tax return

Once you meet these requirements, you can easily open a Fidelity HSA online or through their customer service.

Thinking about opening a Health Savings Account (HSA) with Fidelity? You're in luck! Individuals can absolutely open a Fidelity HSA, providing you with a unique opportunity to save money for those unexpected medical expenses while enjoying some fantastic tax benefits.