Step 1:

Open Fidelity HSA during Open Enrollment

October 15 - October 29, 2025

 Agree to the Terms & Conditions to open your Fidelity HSA^® 

When you log in to review your current benefit elections and make changes as needed, you’ll be prompted to review Fidelity’s HSA Terms and Conditions. If you accept, your Fidelity HSA will be opened.   Follow the steps below to authorize your Fidelity HSA:

• From TVA Today homepage, click People Gateway, then click the Open Enrollment link at the top of the page.
• Enter your User ID and Password.
• Under Open Benefits Event, choose “Select”.
• Choose “Edit” next to the medical plan option.
• Review your medical selection.
• Review the HSA authorization text as well as Fidelity’s Terms & Conditions.
• Eligible participants should click “Yes- I am eligible for an HSA and I DO WANT TVA to open my HSA and receive TVA’s contribution.” 
• Enter the email address you would like Fidelity to send information to complete your account activation.
• Click “Update Elections”  twice.
• You will then be presented with the HSA TVA Contribution page.  Choose the option (Gold or Silver) that corresponds with your medical plan selection, or choose Waive.
• Click “Update Elections” twice.
• Your medical and HSA elections have been noted.
• Continue with your other benefits as necessary.

HSA participants will be offered an opportunity to take part in an TVA sponsored HSA group transfer in the first quarter of 2026. Look for detailed information and instructions for consent to transfer you account from HSA Bank to Fidelity later this year and refer to step 2 for more information. Transferring accounts is not required. Fidelity may contact you via email for additional documentation needed to verify your identity and complete the Customer Identification Process. 

Please note: If you have a P.O. Box on file with TVA as your mailing address, you will get a notification from Fidelity to use a residential street address to open your Fidelity HSA account. You do not need to contact TVA to change your address.

Important: Your elections from 2025 will not carry over. You must open a Fidelity HSA in order to contribute and receive the TVA company contribution. If you elect a High Deductible Health Plan (HDHP), you are eligible for an HSA company contribution even if you choose to not make your own contributions.

Step 2:

Group Transfer Election Window

January 12 - February 13, 2026

Provide eConsent on HSA Bank's website to transfer your funds to your new Fidelity HSA account. 

The group transfer election window is available from January 12 - February 13, 2026. If you want to take advantage of the group transfer election window to transfer your HSA funds to Fidelity with no fees, you will need to provide consent for HSA Bank to begin the transfer process on your behalf. Your HSA balance will remain at HSA Bank until the official transfer date March 19, 2026.

You must make a decision about transferring your HSA Bank HSA funds as part of the group transfer process. If you choose to be included in the group transfer, please provide your electronic consent using HSA Bank's eConsent link emailed to you by February 13, 2026.

• If you complete the online consent to participate in the group transfer at HSA Bank by February 13, 2026, you will not be subject to transfer, account closure, or monthly administrative fees with HSA Bank.
• If you miss the eConsent window for the group transfer, you can still elect to transfer your HSA Bank HSA balance to a Fidelity HSA^®. You can begin the individual transfer process on February 14, 2026, by filling out a transfer of assets forms at Fidelity. Please note: the individual process can take six to eight weeks to complete and you will be liable for any account fees charged by HSA Bank.

Moving funds between HSAs is not typically considered a taxable event and will not be reported to the IRS, though you are encouraged to review the applicable rules for your state and consult with a financial advisor.

Step 3:

If applicable, turn off ad hoc contributions, stop automatic investing and liquidate investments

By February 15, 2026

By February 15, 2026, if you choose to have your HSA Bank HSA transferred as part of the group transfer process, you must:

• Turn off all automatic investments that you have set up. Otherwise, a new purchase of an investment may occur, which will prevent your account from being included in the group transfer to Fidelity.
• Liquidate (or move to cash) any HSA Bank investments. Converting your investments into cash will generally take one to two business days, it may depend on your particular investments. 
  • ​​​​​​​IMPORTANT: If you do not take action to liquidate your HSA investments, including any subsequent reinvested dividends, HSA Bank will automatically liquidate your investments on your behalf. 
• Stop making any ad hoc contributions to your HSA Bank HSA that you may have set up outside of existing payroll contributions. If you had set up ongoing contributions outside of payroll, these are also referred to as auto-transfers. For instance, if you had set up monthly automatic contributions from your bank, you will need to turn those off.

Step 4:

Activate your Fidelity HSA

By February 23, 2026

Activate your Fidelity HSA and make investment elections.

You’ll receive communications from Fidelity directing you  to log on to NetBenefits.com and activate your Fidelity HSA before the group transfer election window begins on February 23, 2026. After you have activated your Fidelity HSA, consider reviewing your investment options by the first payroll date in 2026. This will direct the investment of your future contributions. If you miss this deadline, your first payroll contributions will be invested in your core position.

Please note: If you have an existing Fidelity HSA, this step is not required. Your existing Fidelity HSA will be linked to the TVA HSA in January 2026. 

You can make or change investment elections virtually any time by logging on to NetBenefits.com, selecting the “Investing” tab and then “Set Up Automatic Investments”. New investment elections will be applied to future HSA contributions.

Step 5:

Name beneficiaries

Name beneficiaries for your Fidelity HSA.

If you have beneficiary designations on file for your HSA Bank HSA, that information will not transfer to your Fidelity HSA.

• Visit NetBenefits.com
• Select the “Profile & Settings” icon in the top right of the homepage
• Select “Beneficiaries” to designate beneficiaries