Health Savings Account (HSA) Transition

Health Savings Account Transition from HSA Bank to Fidelity

Effective September 1, 2025, Fidelity will become Snowflake’s new Health Savings Account (HSA) administrator. This change reflects our ongoing commitment to improve your financial planning resources and provide a better employee experience.

Your Action Is Needed: There are critical, time-sensitive steps you need to take to complete your current HSA Bank account transfer and activation.

Timing

Action

Instructions

July 30 - Aug. 29, 2025

Open a Fidelity HSA account

July 30: Look for an email from dse@docusign.net to accept Fidelity’s terms to open your new HSA account.Alternatively, you can log-in directly to NetBenefits and open an HSA there.

Aug. 29: Final HSA contribution to HSA Bank.

Please note: If you already have an account with Fidelity, you can ignore DocuSign, as Fidelity will use your existing account number and link it to Snowflake.

Sept. 2 - 15, 2025

Sign the HSA Bank account transfer consent form

Sept. 2: See the email from Snowflake Benefits regarding the automatic transfer option consent form required from HSA Bank - active 9/1 - to authorize the transfer of your HSA balance to Fidelity.

Sept. 12: First HSA contribution to Fidelity HSA.

By Sept. 18, 2025

Liquidate HSA Bank investments

To be included in the automatic transfer from HSA Bank to Fidelity, you must liquidate any HSA investment balance you have with HSA Bank and disable the auto sweep feature on your account.

If you don’t take this action, HSA Bank will attempt to liquidate on your behalf; however, this does not ensure your inclusion in the automatic bulk transfer process. Click for the liquidation form.

Sept. 25 - Oct. 16, 2025

Account Freeze

Your HSA Bank account balance will be unavailable during this time.

If you complete the steps above, your Bank account balance will appear in your Fidelity account starting the week of 10/20/2025.

To ensure a seamless transition, we highly recommend enrolling in the automatic transfer option from HSA Bank to Fidelity. This is the fastest and simplest way to move your current HSA Bank balance without needing additional forms or incurring extra fees later.

Did you miss the bulk transfer deadline?

If you missed the deadline to opt into the bulk transfer, you can still initiate a direct transfer from HSA Bank to Fidelity. You can do this at any time before the account freeze date or after the freeze period, which is between September 25th and October 16th.

FIDELITY HSA Plan

800-544-3716
‍fidelity.com

Since HSAs are individually owned accounts (not owned by Snowflake), you can choose to participate in the automatic transfer from HSA Bank to Fidelity or keep your account at HSA Bank. If you do not complete the HSA Bank consent form:

Your HSA will remain at HSA Bank as an individual account.
Starting September 1, Snowflake will no longer cover the applicable monthly fees at HSA Bank, and will deposit employee pre-tax contributions and Snowflake’s employer contributions into Fidelity.
You will need to manage your HSA Bank account directly, including paying any applicable monthly fees.

Date

What Will Happen/Action

How You'll Be Affected

July 30, 2025

Open a Fidelity HSA on NetBenefits.com

Open a Fidelity HSA on NetBenefits.

Starting July 30, 2025, Snowflake employees can open HSAs on NetBenefits using their existing NetBenefits 401k log-in credentials.

Note: The Fidelity HSA card will be mailed out upon account opening. This will usually take 7-10 business days to arrive.

August 5, 2025

Open a Fidelity HSA through DocuSign

If you haven’t opened a Fidelity HSA yet, check your email and sign the DocuSign form. Agreeing to this allows Fidelity to open an HSA Account on your behalf.

Note: An HSA Account opened through DocuSign allows Fidelity to receive contributions and transfers into your account, and lets you use your Fidelity HSA card to make payments. To enjoy more features such as online access and investing, you may go to NetBenefits to activate your HSA.

Sept. 2–15, 2025

Opt-in for bulk transfer

Sept. 2: See the email from Snowflake Benefits regarding the automatic transfer option consent form required from HSA Bank - active 9/1 - to authorize the transfer of your HSA balance to Fidelity.

If you do not take action, your HSA Bank will convert to an individual account on 9/30/25. HSA Bank will charge a monthly monthly maintenance fee in the amount of $2.50 for any account that transitions into a retail account. To avoid this monthly fee, maintain an average HSA Bank cash account daily balance at or above $3000. If you choose to transfer your HSA Bank funds to Fidelity later, HSA Bank does not charge any transfer fees even for individual transfers.

September 18, 2025

Deadline to liquidate HSA investments from HSA Bank

To be included in the bulk transfer, you must liquidate your HSA investment balance with HSA Bank and turn off auto sweep by 9/18/25.

If you don’t do this before the deadline, HSA Bank will attempt to liquidate on your behalf however this does not ensure your inclusion in the bulk transfer. Download the liquidation form.

September 25, 2025

Blackout period begins

Please discontinue all transactions from the account as of 9/25/2025.

If there are any pending transactions at the time of transfer, your account will not be included in the bulk employer transfer. An individual transfer form will need to be completed to transfer if you do not transfer due to pending transactions. You will still be able to log into HSA Bank directly even after their account is closed to view any tax docs and statements.

Any contributions made on or after 9/1/25 will be deposited into your new Fidelity HSA, which will remain accessible during this time with your Fidelity card.

Week of October 20, 2025

Blackout period ends and fund transfer to Fidelity completed

Your balance will now be available in your Fidelity HSA.

Please review the resources below to learn more about the transition to Fidelity HSA, as well as general knowledge about HSAs.

HSA Bank Resources

HSA Bank Liquidation Form

Fidelity Resources

Investing in a Fidelity HSA FAQ
HSA Individual TOA How-to-Guide
Investing in your Fidelity HSA Guide (Brainshark)
HSA Reference Guide
‍Fidelity HSA Number: 800-544-3716

HSA Videos

HSA Articles

To update your Health Savings Account contribution, please access your Empyrean profile here.

Select Change Your Current benefits
Select Change in Health Savings Account, Save and Continue
Choose the current date, agree to eligibility requirements, and Save and Continue.
Navigate to the HSA tile, and select Change.
The change effective date will default to the 1st of the following month. Make your new annual selection.
Click on Calculate cost, and I’m done with my selection.
Click on Save my election.
Click on I’m done with my selections.
Click Submit My Elections.
When you see the confirmation, you’ve completed the update. Save the confirmation # for your records.