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Enrolled in the CDHP plan? Don’t forget to open your Health Savings Account

Feb. 23, 2021, 4:00 PM

If you selected the Choice CDHP as your medical plan during Open Enrollment for 2021 benefits, your Health Savings Account must be activated before you can receive the Vanderbilt seed and Go for the Gold dollars.

If you have already agreed to the Terms and Conditions and set up your HSA, you may disregard the rest of this message. 

 

Fully benefits-eligible

 

Partially benefits-eligible

  • Vanderbilt will contribute $750 for single and $1,500 for family coverage. You will receive half in January and half in July.
  • Go for the Gold dollars also will be put into the HSA. You may receive $120, $180 or $240 depending on the incentive you earned as of Oct. 31, 2020.
  • Go for the Gold dollars also will be put into the HSA. You may receive $120, $180 or $240 depending on the incentive you earned as of Oct. 31, 2020.

Activate your Health Savings Account

In order to activate your account, you must open your HSA and agree to Fidelity’s Terms and Conditions so that Vanderbilt can contribute the seed money or Go for the Gold dollars to you. If you do not activate your account before Feb. 28, 2021, you will forfeit the January seed contribution and any Go for the Gold dollars earned in 2020.

First, you must agree to the Terms and Conditions

(If you agreed to Terms and Conditions via My VU Benefits during Open Enrollment, you can skip down to “Second, you must activate your HSA”)

To agree to Terms and Conditions, log in to My VU Benefits and declare an HSA life event (see instructions below) in order to get to the point of activating your account.

  1. Log in to My VU Benefits.
  2. Click Enroll Now (see screenshot below).

 

3. Click Enroll (see screenshot below).

4. Scroll to the bottom of the page and click Enroll for the Health Saving Account Change (see screenshot below).

5. Use the date that you log in to declare the life event as the effective date.

6. Agree to Terms and Conditions.

7. Next screen: You can change your HSA contributions if you wish. If you do not want to contribute additional funds or change your election, click save and continue.

Second, you must activate your HSA

  • Log in to Fidelity (same log-in information as your 403(b) retirement account).

  • Once you log in to Fidelity, click on the Activate HSA button.

  • Next, complete the questions below and click “Continue Your Application.”

  • The next several screens will prompt you to review and confirm:
    • Your personal information
    • Agree to terms of the HSA account
    • Select if you would like to receive electronic documents
    • Last step click “I agree” to all of the above information
  • Below is the confirmation that your account has been activated.

 

If you need help or have questions, please contact Vanderbilt Human Resources at human.resources@vanderbilt.edu or by phone at 615-343-4788.

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