Update March 2023:

Health Savings Account (HSA) transferred funds available March 13

Employees who signed up for the HSA Advantage medical plan for 2023, had a balance in their 2022 WEX HSA and who elected to have their remaining funds with WEX included in the bulk transfer of assets to Fidelity will be able to access all funds via their 2023 HSA beginning March 13. The transfer of funds from WEX to Fidelity, the health system’s new administrator of pretax accounts, will be complete as of that date.

Affected employees are encouraged to log into their Fidelity HSA account to review available funds:

If you have questions, please contact Fidelity at 800-343-0860.

Original January 2023:

Transition of Health Savings Accounts (HSAs)

Beginning in 2023, Fidelity will administer Health Savings Accounts (HSAs) for the health system. The accounts were previously held by WEX, formerly known as Discovery Benefits. The health system made the change January 1 to simplify things for employees – Fidelity also manages employee retirement plans, meaning there is now just one login for HSA, FSA and retirement plan accounts.

The change means existing HSA funds will be transferred from WEX to Fidelity. That transition is scheduled to start in early February and take about 30 days. During that time, employees will not be able to access HSA funds currently held by WEX.

Who this affects: Employees who signed up for the HSA Advantage medical plan for 2023 and who had an HSA through the health system at WEX in 2022.

What you need to do: That depends on two things:

  • a choice you made when you signed up for benefits during the October enrollment period about the transfer, and
  • whether you have an HSA brokerage account (HSBA).

What you need to do:

You don’t need to do anything else for the transfer to happen UNLESS you have an HSA Brokerage (HSBA) account with WEX/Charles Schwab and then you have a very important step to take. Read more below.

What you need to know:

  • The transfer of HSA funds from WEX to Fidelity will begin in early February and be complete by early March.
  • During this time, you won’t be able to access funds in your WEX HSA.
    • Until the transfer starts in early February, you may use your WEX account as normal.
  • Your 2023 HSA account with Fidelity is accessible now and will be available throughout the transition period.
    • The funds include the 2023 seed money from the health system ($500 for employee-only coverage and $1,000 for employee + any family coverage) and any payroll contributions you’ve made in 2023.
    • It’s easy to check your HSA balance at NetBenefits.com/AtWork or on Fidelity’s mobile app.

If you have an HSA brokerage account with WEX/Charles Schwab:

If you have a health savings brokerage account (HSBA) at WEX (administered by Charles Schwab), your account cannot be moved automatically unless you take the following action AND complete it before the automatic transfer begins in early February.

  • You must transfer your HSBA to cash. Investment funds cannot be transferred to Fidelity.
    • To make that conversion, contact your Charles Schwab HSBA advisor or the Charles Schwab help line: 800-472-0084.
  • You may reinvest your HSA funds when the transfer to Fidelity is complete.
  • If you don’t complete these steps before the automatic transfer, your HSBA will remain with WEX.
    • If this happens, please see the steps below under Option 2 to close your WEX account and transfer the funds to Fidelity or another financial institution.
  • Not sure if you have an HSBA with WEX?
    • Check by logging into your WEX account and look under Investment Summary on the Accounts tab. If you see an image like the one below, you have an HSBA.

  • You may ask WEX to close your account and transfer funds elsewhere, with Fidelity being one option.
  • You may leave your account at WEX.
    • A $3 monthly fee will be assessed by WEX and drafted automatically from your account.
    • You can continue using the remaining funds for eligible healthcare expenses.

For help:

Contact WEX 866-451-3399

Contact Fidelity 800-343-0860