A Health Savings Account (HSA) is an account you own and can contribute to on a pre-tax basis to pay for healthcare expenses now, as well as in the future. In addition to your own contribution, Boston Children’s contributes to your HSA to further help you pay for eligible healthcare expenses including deductibles, prescription drugs, and more. The best part is your account is yours to keep even if you leave Boston Children’s or retire.
Your HSA is administered by Fidelity.
Don’t forget: If you enroll in the HDHP with HSA, IRS regulations don’t allow you or your covered spouse to contribute to a Health Care Flexible Spending Account (FSA) at the same time, in the same plan year; nor can either of you be enrolled in Medicare.
Contact Fidelity
Need to speak to Fidelity directly? Visit netbenefits.com/BCH or call 855-242-4032.
How the Account Works
When you enroll in the Blue Essentials HDHP, you are eligible to enroll in an HSA. Both you and Boston Children’s can contribute to your HSA. Click on the “Contributions” tab for more information.
If you elect the HSA during Open Enrollment, Boston Children’s contribution will be deposited into your Fidelity HSA account at the beginning of the year and the funds are available immediately. Money you elect to have taken out of your paycheck each pay period will start with the first paycheck in the new year.
If you enroll after Open Enrollment, your contributions may start as early as you enroll and take one to two paychecks to begin. Boston Children’s contribution is provided the month following enrollment, and is prorated.
There are a lot of advantages to opening and owning an HSA beyond just the Boston Children’s contribution.
Your HSAcan be used to pay for eligible health care expenses including copays, deductibles, prescription drugs, dental, vision, and more
There is a triple tax advantage – money is contributed on a pre-tax basis, interest and earnings on account are not taxed, and account can be used for qualified healthcare expenses tax-free
You can invest your account in a number of different funds
Unused money rolls over from year-to-year and is yours to keep, even if you leave or retire from Boston Children’s
You can elect, change, or end your HSA elections at any time
Contribution Limits
Boston Children’s contributions will be deposited at the beginning of the year and available immediately. The chart below shows how contributions can add up relative to IRS limits.
Contributions
Employee Only coverage
Employee + Spouse, Employee + Child(ren), or Family coverage
Boston Children’s Contributions
$500
$1,000
Maximum IRS Limit for 2026 (includes Boston Children’s contributions)
$4,400
$8,750
Catch-up Contributions if Age 55 or older
Additional $1,000
HSA Education Corner
An HSA comes with lots of advantages – and a lot to learn about when first opening one. Boston Children’s partners with Fidelity, your HSA administrator, to make sure you have the resources you need to learn about your High Deductible Health Plan and how to use your HSA.
To find answers to any questions you have, start with this helpful FAQ.
You can visit the Fidelity website at any time to explore their robust resources, or get started with the targeted resources below.
You can also watch this quick video that gives a high level look at how to use your HSA.
We will keep this HSA Education Corner updated with timely information, tools, and resources, so if you’re enrolled in the Blue Essentials HDHP + HSA, make sure to check back here with any questions you may have!
Important Updates
Check back here throughout the year for important updates to you HSA!
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