Customers may obtain the benefits of FDIC insurance eligibility* in a Fidelity HSA® through the FDIC-Insured Deposit Sweep Program and the Program Banks listed below. Once you open and fund your HSA1, the available Cash Balance will be held on your behalf at one or more of the Program Banks assigned to your account2. Once at the bank, your Cash Balance will be eligible for FDIC insurance coverage up to the applicable limits3.
Fidelity will assign a Program Bank List to your account. The banks on the list will be eligible to receive your Cash Balances. If you open your account online today then your account will be assigned the Program Bank List shown below. After your account is established, you will receive a New Account Profile confirming your account details, including the Program Bank List assigned to your account. If you open your account online, you will receive information about the Program Bank List that will be assigned to your account before you complete the account opening process. After your account is open, you may contact us to change to another Program Bank List, if one is available.
Fidelity will manage the movement of money between Fidelity and the Program Bank; this will occur automatically whenever you make deposits, execute transactions or withdraw money from your HSA. To learn more, please review the FDIC-Insured Deposit Sweep Program Disclosures. You may call a Fidelity Representative at 800-544-3716 if you have any questions regarding the Program Banks.
You are responsible for monitoring the total amount of your assets on deposit with a Program Bank (including amounts in other accounts at that bank held in the same right and legal capacity) in order to determine the extent of FDIC deposit insurance coverage available to you on those deposits, including your Cash Balance held at the Program Bank.
* See www.FDIC.gov for more details regarding FDIC insurance coverage.