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.
Explore accounts below to learn about how each option works and choose what best fits your needs.
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Paid out of pocket? Submit a reimbursement request through netbenefits.com. Helpful guides are in the Document Library.
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. Just like a bank account, you own your HSA, so it’s yours to keep and use even if you change medical plans, leave SMP, or retire. There’s no “use it or lose it” rule.
The HSA offers a triple tax advantage. Even more tax advantages than a 401(k) 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
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
Important Note
You can enroll in an HDHP and contribute to the HSA if you are:
|
Plan Type |
SMP Contributions* |
Your Contributions |
2026 IRS Maximum |
|---|---|---|---|
|
HDHP Base Plan |
|||
|
Employee |
$500 |
$3,800 |
$4,400 |
|
Employee + Any Dependents |
$1,000 |
$7,550 |
$8,750 |
|
HDHP Value Plan |
|||
|
Employee |
$1,000 |
$3,400 |
$4,400 |
|
Employee + Any Dependents |
$2,000 |
$6,750 |
$8,750 |
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 |
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 $3,400 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.
Important Note
Use your balance or file claims by March 31 of the following year. Up to $680 of unused Health Care FSA funds will roll over to 2027. Anything over these amounts will be forfeited.
Plan contributions carefully. Dependent Care FSAs do not allow rollovers.
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 for 2026 is $7,500 (household limit/between you and your spouse).
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 age 13 and under and elder dependents.
Unlike Health Care FSA funds, Dependent Care FSA funds are available as they are contributed to the account. Funds cannot be carried over and are considered “use it or lose it.”
Refer to Fidelity’s Dependent Care Overview for frequently asked questions.
Eligible DCFSA Expenses
Legal Notice
The general information contained in this summary does not address all requirements of the Plans and complete information is contained in the office Plan documents. If this summary differs from the terms and provisions of the official Plan documents, the official Plan documents will govern and control. The applicable Plan documents govern the determination of your benefit, and no communication, oral or written, shall alter your benefit. Standard Motor Products reserves the right to amend, suspend or terminate its Plans at any time, in whole or in part. Participation in these Plans is not an offer or guarantee of employment. Review these Required Notices for information about your rights and protections, privacy, and more.