Fidelity does not guarantee accuracy of the Virtual Assistant's responses or alignment of its suggestions with your intended purpose. It is designed to be both anticipatory and responsive based on your search terms, information you enter in reply to the Virtual Assistant's questions, and your account and other information on file with Fidelity. For more information about the sweep, please refer to the FDIC-Insured Deposit Sweep Program Disclosures document, which is attached to the HSA Customer Account Agreement.įidelity's Virtual Assistant uses advanced technology and artificial intelligence to help with frequently asked questions and to enhance your digital experience. Once funds are swept to a Program Bank, they are no longer covered by SIPC, but they are eligible for FDIC insurance subject to FDIC insurance coverage limits. Please note that if you utilize the Fidelity HSA bank sweep program in connection with your core account, any balance you maintain in your account is swept to an FDIC-insured position at a bank with which Fidelity has established a relationship, called a "Program Bank." Until funds are swept to the Program Bank, they are covered by SIPC. For more details on the SIPC, or to request a SIPC brochure, visit or call 20. Neither coverage protects against a decline in the value of your securities, nor does either coverage extend to certain securities that are considered ineligible for coverage. We also provide additional coverage above these limits. The securities in your account are protected in accordance with the Securities Investor Protection Corporation (SIPC) for up to $500,000, including up to $250,000 for uninvested cash. What are the rates or yields on my core position?Ĥ. For more information, please refer to the FDIC-Insured Deposit Sweep Program Disclosure (PDF) and the Fidelity Health Savings Account (HSA) Program Banks list. Through the program, the uninvested cash balance in your Fidelity HSA ® is swept to one or more program banks where it is eligible for FDIC insurance.Money market funds have different characteristics than a bank sweep so read the fund's prospectus carefully.įidelity's FDIC Insured Deposit Sweep Program 6 Money market funds are mutual funds that invest in short-term debt securities issued by short-term, high-quality entities that borrow money to repay principal and interest to investors within a short time period.Below are the HSA core options available to you:įidelity® Government Cash Reserves (FDRXX) money market fund. Understanding the differences between your core options can help you make the choice that's right for you. When you open a new Fidelity HSA ®, we automatically put your uninvested cash into the Fidelity ® Government Cash Reserves but you can also choose another cash option. But don't worry if you want to put those off until later-you can set those up at any time. If you told us you were going to make recurring monthly deposits, we'll prompt you to add those next. We'll start by offering you the chance to make an initial deposit, in the same amount you told us you were going to start with when you created your profile. Once your account is open, you can add money to it. After that, you open your account online. You can select the proposed investment strategy or another strategy that you believe is appropriate for you (subject to certain constraints). When you don’t provide us with the additional information, we propose an investment strategy using the information you provided us along with assumed responses about you based on information we derive about similarly aged investors or investors with a similar time horizon from other Fidelity programs and services. You can also give us more information about yourself, which allows us to know you better and helps us suggest an investment strategy that may be even more closely aligned to your financial situation. Then we'll suggest an investment strategy consisting of Fidelity funds that hold stocks, bonds, and short-term investments. With Fidelity Go ®, you start by telling us a few things about yourself: the year you were born, your household income, the reason you're investing, the amount you hope to invest, when you'll need the money you're investing, and your risk tolerance.
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