Your benefits site just got a major overhaul – now built to take you where you need to go.

Tax-Advantaged Accounts

My Favorites
Visitor Favorites

Enable “Content Favorites” to save and manage favorites on this device.

Enable

Our Health Savings Account (HSA) and Flexible Spending Account (FSA) options with Fidelity help you save money by allowing you to pay for out-of-pocket health and dependent day care expenses with pre-tax dollars.

Health Savings Account

If you choose one of our two HDHP medical options, you’ll gain access to an HSA. The HSA is a savings account in which you can put aside your own pre-tax dollars to pay for qualified health care expenses— think of it as a personal bank account that works with your medical plan.

While you can use your HSA to offset health care costs now, you can also use it as a longer-term savings account and roll over your balance year to year. Once you have $1,000 in your HSA, you can begin to invest in mutual funds like the 401(k) Plan. When you invest the money from your HSA, there are no investment transaction fees.

HSA Contributions

The IRS sets limits each year on how much you can contribute to your HSA. If you enroll in one of the HDHP options, SMP will contribute to your account to help you get started. The amount the company contributes is based on which plan you choose and who you cover.

New HSA participants must open their account in netbenefits.com to receive SMP’s contribution

  • SMP’s contribution will be forfeited if not open within the quarter an employee is made eligible

Employees hired after 1/1 will receive a prorated employer contribution depending on the month, the employee is hired in.

Change Your HSA Contribution in Dayforce

  1. Log onto your Dayforce account and on your profile, select Benefits
  2. Select Start Enrollment
  3. Select Next twice
  4. Check the box to the left corner of Options
  5. Click Show Details and make an election
  6. Click Save, Next, and Submit Enrollment

Plan Type

SMP Contributions*

Your Contributions

2025 IRS Maximum

HDHP Base Plan

Employee

$500

$3,800

$4,300

Employee + Any Dependents

$1,000

$7,550

$8,550

HDHP Value Plan

Employee

$1,000

$3,300

$4,300

Employee + Any Dependents

$2,000

$6,550

$8,550

The Power of Tax-Free Savings

Experts say the average couple will need $300,000 for medical expenses in retirement. Setting aside a little bit of money in an HSA now can add up to significant funds over time. Here’s an example of how much you could accumulate with an HSA if you start at age 40, contribute to age 64, and do not make any withdrawals prior to age 65:

Your Annual Contribution

Annual Tax Savings

HSA Balance at Age 65

Total Tax Savings at Age 65

$900

$252

$71,100

$26,400

$1,800

$504

$142,200

$39,800

$2,400

$672

$189,600

$52,800
This example is for illustrative purposes only and does not take into account variable factors like the rate of compound interest or potential investment returns over time.
Consult a financial professional for more information about how tax-free savings may affect your HSA balance based on your personal savings and investment strategies

Flexible Spending Accounts

There are two types of Flexible Spending Accounts (FSA): the Health Care FSA and the Dependent Care FSA.

A Health Care FSA allows you to set aside pre-tax dollars to pay for health care costs not covered by insurance. The maximum contribution is $3,300 for 2026.*

You can use your Health Care FSA to pay for health care expenses that are not covered by your medical, dental, and vision plans, including copayments, coinsurance, and deductibles. The FSA Store is your one-stop destination for tax-free spending with over 6,000 guaranteed eligible essentials. Shop everyday items from sunscreen to baby care, feminine care products, and over-the-counter medicines from pain relief to cold and flu.

With an FSA, you will receive access to NetBenefits where you can track your account balance, view your claims history and submit requests for reimbursements. In addition, you’ll receive a convenient NetBenefits AccessCard to make it easy to pay for eligible services and products not covered by your health plan. When you use the NetBenefits AccessCard, payments are automatically withdrawn from your account. If you already paid out of pocket instead of using your debit card, you can still get reimbursed. Just log in to NetBenefits, go to Reimbursement Accounts > Claims & Expenses > File a Claim, and follow the prompts to upload your receipts and submit for reimbursement.

If you enroll in one of the HDHP options, you are not eligible to enroll in the Health Care FSA, according to IRS rules.

*These amounts represent the 2025 contribution limit and rollover maximum. As of the date of publication, 2026 IRS FSA amounts have not been released; these amounts may change for 2026.

A Dependent Care FSA allows you to set aside pre-tax dollars to pay for certain dependent care costs. The maximum contribution set by the IRS is $5,000.

You can use your Dependent Care FSA to pay for dependent care services that enable you and your spouse to work or look for work. Expenses must be for the care of a dependent who is either under age 13 and entitled to a dependent tax deduction, or a person of any age who is mentally or physically incapable of self-care. In the latter case, the person must live in your house at least eight hours per day, be fully dependent upon you and be claimed as a dependent on your tax return.

Eligible dependent care expenses include:

  • Nursery school
  • Licensed day care centers
  • Summer day camps
  • In-home care for a dependent incapable of self-care

When is FSA Money Available?

Your Health Care FSA can be reimbursed up to the total amount you have elected to deposit for the year. Your Dependent Care FSA can be reimbursed up to the total amount you contributed through payroll at the time of your request for reimbursement.

*These amounts represent the 2025 contribution limit and rollover maximum. As of the date of publication, 2026 IRS FSA amounts have not been released; these amounts may change for 2026.

Important

Use your balance or file claims by March 31 of the following year. Up to $660 of unused Health Care FSA funds will automatically roll over to 2026—but anything above that is forfeited.

Plan contributions carefully. (Dependent Care FSAs do not allow rollovers.)*

Notifications

Notification Progress

Enable "Notification Progress" to save which notifications you've viewed on this device.

Enable