The Health Savings Account (HSA) is transitioning to Fidelity*

What does the HSA transition** mean for YOU?

  • You can manage your HSA and 401(k) plan through one administrator, so it’s easier to manage your savings.
  • There are no fees at Fidelity for investing your HSA, and you have more investment options to choose from.
  • Your HSA will earn a higher interest rate than it does today.
  • The Flex HSA contribution amounts remain the same.
  • All 2026 contributions made by you and/or Flex will be made to your Fidelity HSA.
  • You will receive a new HSA debit card from Fidelity to use in 2026.

Review important actions to take during Open Enrollment below.

* HealthEquity will continue to administer the Flexible Spending Accounts (Health Care, Limited Purpose and Dependent Care) and commuter benefits.

** Your beneficiary(ies) will not transition during the changeover, so you will need to be sure to assign them when you activate your new Fidelity account.

TAKE ACTION DURING OPEN ENROLLMENT!

Transferring your account balance to Fidelity during Open Enrollment

will simplify the process for you.

Required steps in Workday to open your HSA at Fidelity and transfer your HSA from HealthEquity to Fidelity

  1. If you are enrolled or wish to enroll in a Core or Premier medical plan with HSA for 2026, you must actively complete and submit your Open Enrollment event in Workday to authorize Fidelity to open your HSA. If you do not complete this step, you will need to open your HSA with Fidelity on your own.
  2. ­If you have a balance in your HealthEquity account, complete the “HSA Group Transfer Authorization” task in your Workday inbox to automatically transfer your balance to Fidelity. This task will be available in your Workday inbox after you submit your Open Enrollment elections. Accounts will transfer in February 2026.

IMPORTANT! If you don’t participate in the group transfer, you’ll need to transfer the account on your own. You will also be charged a $3.95 monthly maintenance fee by HealthEquity starting in March 2026 and a $25 account closure fee to close your account and transfer the balance.