Polarizable embedding (PE) refers to classical embedding approaches, such as those used in quantum mechanics/molecular mechanics (QM/MM), that allow mutual polarization between the quantum and classical regions. The quality of the embedding potential is critical to provide accurate results, e.g., for spectroscopic properties and dynamical processes. High-quality embedding-potential parameters can be obtained by dividing the classical region into smaller fragments and deriving the parameters from ab initio calculations on the fragments. For solvents and other systems composed of small molecules, the fragments can be individual molecules, while a more complicated fragmentation procedure is needed for larger molecules, such as proteins and nucleic acids. One such fragmentation strategy is the molecular fractionation with conjugate caps (MFCC) approach. As is widely known, hydrogen bonds play a key role in many biomolecular systems, e.g., in proteins, where they are responsible for the secondary structure. In this work, we assess the effects of including hydrogen-bond fragmentation in the MFCC procedure [MFCC(HB)] for deriving the embedding-potential parameters. The MFCC(HB) extension is evaluated on several molecular systems, ranging from small model systems to proteins, directly in terms of molecular electrostatic potentials and embedding potentials and indirectly in terms of selected properties of chromophores embedded in water and complex protein environments.