Action 11.
Regular Board of Supervisors Meeting - 10:00 a.m.
Human Resources
- Meeting Date:
- 11/10/2026
- Title:
- Approve Letter of Understanding with Fidelity Workplace Services
- Submitted By:
- Jennifer Graeme, Human Resources
- Department:
- Human Resources
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
1
NAME
of PRESENTER:
of PRESENTER:
Jennifer L. Graeme
TITLE
of PRESENTER:
of PRESENTER:
Human Resources Director
Docket Number (If applicable):
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Provide expanded investment options for employees
Information
Agenda Item Text:
Approve a Letter of Understanding with Fidelity Investments to begin the transition of Cochise County's Health Savings Accounts (HSA), Flexible Spending Accounts (FSA), and Dependent Care Flexible Spending Accounts to a single vendor, effective July 1, 2027.
Background:
Human Resources has received complaints about Health Equity, our current vendor for Health Savings Accounts (HSA) and has a separate vendor for Flexible Spending Accounts and Dependent Flexible spending accounts, CPI. Having one vendor would simplify payment processes.
Human Resources is recommending the County change the vendor who provides Health Savings Accounts, Flexible Spending Accounts and Dependent Care Spending Accounts. Fidelity Investments offers these accounts with broader investment options which would benefit our employees. This Letter of Understanding would allow Fidelity Investments to begin the process of establishing account information for our employees to ensure a smooth transition, effective July 1, 2027.
Human Resources is recommending the County change the vendor who provides Health Savings Accounts, Flexible Spending Accounts and Dependent Care Spending Accounts. Fidelity Investments offers these accounts with broader investment options which would benefit our employees. This Letter of Understanding would allow Fidelity Investments to begin the process of establishing account information for our employees to ensure a smooth transition, effective July 1, 2027.
Department's Next Steps (if approved):
Send letter of understanding to Fidelity.
Impact of NOT Approving/Alternatives:
The County would retain our current vendors.
To BOS Staff: Document Disposition/Follow-Up:
Return signed letter of understanding to Human Resources.