To encourage more health savings account (HSA) owners to get invested, Fidelity has launched two health savings mutual funds that are targeted specifically for those looking to grow their HSA savings.
The Fidelity Health Savings Fund and Fidelity Health Savings Index Fund are designed to balance growth and downside market protection through different market environments to address the uncertain timing of future medical expenses, according to the firm’s announcement.
The funds are available exclusively for purchase by those with a Fidelity HSA, including individual investors, employees in workplace savings plans for which Fidelity is the recordkeeper and clients of financial intermediaries that are Fidelity Custody and Clearing clients.
“Our goal with these new funds is to encourage more savers to take that next step and invest the HSA assets they intend to use for future healthcare expenses, and by doing so, more fully benefit from the great advantages of their accounts, which include the potential for tax-free growth,” notes Vadim Zlotnikov, President of Global Asset Allocation at Fidelity.
