Question Regarding Employee HSA Contributions

[winkeyecare1]

I have set up an HSA account with Square for an employee, but the employee has also opened an HSA account with Fidelity. Can someone please advise how I can send contributions directly to the employee’s Fidelity HSA account?

[Sammie_C · Accepted solution]

Hi @winkeyecare1, thank you for your post and I would be happy to help with this! I also see you are new to the Community, welcome.

Square Payroll takes the hassle out of HSA deductions and reporting. We handle all the tax and W-2 calculations for both employee contributions and any employer match, then place those exact amounts in your connected bank account. From there, you simply transfer the funds to Fidelity.

On our side, we have limited information on what Fidelity needs to get those funds to the correct account. Our understanding is you can log in to Fidelity’s employer/contribution portal and send over that exact amount from a linked bank account. This may be something you may need to contact Fidelity about directly for the specifics on, since we are only focused on Square support.

I hope this helps a bit though! Please let me know if you have any other questions in the meantime!