How to Calculate Earnings on Excess HSA Contributions Fidelity

Calculating earnings on excess HSA contributions with Fidelity can seem daunting, but it's actually a straightforward process. When you contribute more to your HSA than the annual limit allows, the excess amount is subject to additional taxes and penalties unless corrected. However, any earnings generated from those excess contributions can be a silver lining.

To calculate earnings on excess HSA contributions with Fidelity, follow these simple steps:

1. Determine the total excess contribution amount made to your HSA.
2. Contact Fidelity to inquire about the interest rate or investment options for HSA funds.
3. Multiply the excess contribution amount by the annual interest rate or investment return to calculate the earnings.
4. Monitor your HSA account regularly to keep track of the earnings on excess contributions.

By following these steps, you can stay informed about the earnings generated from your excess HSA contributions with Fidelity and make informed decisions about your healthcare savings.

Calculating earnings on excess HSA contributions with Fidelity is easier than you think! If you've accidentally contributed more than the IRS limit, follow these steps to salvage your situation by determining any earnings, which can help offset penalties.