How to Set Up an HSA Cafeteria Plan on Fidelity?
- Main Problem: The user is seeking information on how to establish an HSA cafeteria plan for their small business, as there is no documentation available on this topic.
- Solution Offered: Fidelity suggests contacting their HSA team for general and account opening questions, providing availability details for assistance.
- Additional Advice: The user is encouraged to speak with a qualified tax advisor for legal or tax advice regarding their specific situation.
Here’s the full thread
In the FAQ on the small biz HSA link under How do I set up an HSA for my small business? it says:
Next, if your goal is for your employees to contribute to their HSA on a pre-tax basis, you’ll need to establish something that’s referred to as an HSA cafeteria plan. It’s called a cafeteria plan because employees can pick and choose the benefits they want. This type of plan allows your employees to pay certain expenses with pretax income.
How do I establish an HSA cafeteria plan? I don’t see any documentation about this.
Thanks for reaching out with your HSA question, @crankykevin
While eligibility is determined by the IRS, our Health Savings Account (HSA) team would be happy to answer general and account opening questions however they can. Associates are available Monday through Friday from 8:30 a.m. to 8:00 p.m. ET. If prompted, you can say “health savings account” to be routed to the correct team.
Contact Fidelity: https://www.fidelity.com/customer-service/contact-us
As a reminder, Fidelity does not provide legal or tax advice; therefore, we highly encourage you to speak with a qualified tax advisor to review your situation before moving forward.
We’re here if you need help with anything else. Thanks for being a part of our community! 🟢