Welcome to 2026 Annual Enrollment
Completing Annual Enrollment is more than just checking a box—it’s your opportunity to make sure your benefits are working for you. We encourage you to take some time over the upcoming weeks to make sure your benefits are working for you. This is your chance to DISCOVER everything that’s included in Santander’s benefits offering, evaluate your current elections, and take full advantage of the benefits designed to help you and your family THRIVE in 2026 and beyond. From medical coverage to supplemental programs, the decisions you make during Annual Enrollment can help you get the right care, from the right provider, at the right cost—so you can feel confident you’re making the most of what’s offered.
As Santander works to manage unprecedented increases in medical and prescription costs, we remain committed to providing you benefits that are robust, affordable and in-line with or better than our peers. You’ll continue to have the same benefits offering as you do today. And, we will not have any benefits vendor changes, and the majority of our plans will have the same design as they do today.
Whether you’re focused on making your paycheck stretch, caring for your family, or you have new health priorities this year, now is the time to take a closer look at all the resources available to you. No cost mental health support and weight loss tools; discounts on items you may use every day; and chronic health management programs – these are just some of the tools we encourage you to DISCOVER and THRIVE with now and in 2026.
2026 Annual Enrollment will start on Tuesday, October 14 and end at 11:59 p.m. ET on Thursday, October 30. Enrollment will again take place in SanBenefits (www.sanbenefits.com, accessible from any personal device, and through single sign-on on the Santander network). For 2026, you can expect to see the changes below.
Medical and Prescription Drugs
We will continue to offer the choice of three medical plans - the PPO plan, HSA Choice Plus plan, and Surest plan. There are no plan design changes to the HSA Choice Plus and Surest medical plan, and no changes to prescription drug copays and coinsurance. For 2026 the SanUS PPO medical plan will utilize UHC’s Nexus network in certain states which features a tiered structure design that aims to connect you to the right provider. See the NEW – Nexus Network for PPO Plan section below for details.
As we move into our fourth year offering the Surest plan, it will remain the cheapest from a paycheck perspective. We are seeing that employees enrolled in this plan are getting more preventive care, using the emergency room less, and are visiting higher quality care providers. Click here to read about how the Surest plan has worked well for Celeste Perez, Senior Associate, Platform and Delivery Management, and her family.
The changes to your medical plan, including medical paycheck contributions, depends on the entity you work for. Click your entity’s link below for this information.
- Santander Bank, Santander Holdings, Santander Consumer, Santander Technologies, Santander Global Technologies and Aquanima
- Banco Santander S.A. (New York Branch), Santander US Capital Markets and Deva
- Banco Santander International
Dental
- No change to the plan provider (Delta Dental) or plan designs.
- Paycheck contributions are increasing by $.04 to $12.40 per pay depending on the entity you work for, your dental plan election and coverage tier.
- These increases include the second and final step to harmonize Santander Consumer dental paycheck contributions with the rest of SanUS.
Vision
- No change to the plan provider (Vision Service Plan, or VSP) or plan designs.
- No change to paycheck contributions.
Supplemental Coverage Paycheck Contributions
- No provider changes or paycheck contribution changes for supplemental life insurance, critical illness insurance, supplemental long-term disability and legal plan coverage.
NEW – Nexus Network for PPO Plan
For 2026 the SanUS PPO medical plan will utilize UHC’s Nexus network in certain states*. The Nexus network includes the same providers as the current network, and preventive care will continue to be covered at 100%. The difference is the Nexus network’s tiered structure design aims to connect you with the right care, from the right provider, at the right cost.
Nexus Tier 1** providers are identified by UHC as delivering high-quality care at a lower cost. Their patients are less likely to have follow up after surgery, complications or repeat procedures. If you choose a Tier 1 provider, the current cost sharing will apply. If you use a non-Tier 1 in-network provider, you will pay more out of pocket when you utilize care.
With the Nexus network you’ll continue to have the flexibility and choice to visit the provider who best meets your needs, whether it’s a Tier 1 provider or not. Just keep in mind that you’ll pay more for services provided by a non-Tier 1 or out of network provider.
Which PPO Network Will I Use in 2026
The Nexus network is not available to all employees across the Santander footprint due to provider availability. If you elect the PPO plan for 2026, the PPO network you will access is determined by the state you live in, based on this chart:
*Employees living in Hawaii will continue to have access to the Kaiser medical plan only for 2026.
Understanding Nexus Providers
Tier 1 providers will be designated as such in the UHC website and app by a blue circle with “Tier 1” inside the circle. To determine who is a Tier 1 provider, UHC evaluates providers based on their effectiveness, efficiency and the cost of their services compared to benchmarks in their location, amongst other factors. These providers have fewer surgery complications and less follow up visits by patients after receiving care. They receive this designation when they show they meet these qualifying factors.
Tier 1 providers also include those who participate in an Accountable Care Organization (ACO). An ACO is a group of doctors, hospitals, and other healthcare providers who voluntarily come together to provide coordinated, high-quality care with the primary goal of improving patient outcomes while managing costs and avoiding unnecessary services.
Nexus Network PCP Requirement
The Nexus network requires that you choose a Primary Care Provider (PCP) to guide your care and to ensure you’re connected to the right specialists and services when needed. A PCP will have oversight of all aspects of your health and can coordinate your care with specialists, nurses, hospitals and the rest of your health care team, which can save important time and money.
If you live in a state where you’ll access the Nexus network, during Annual Enrollment in SanBenefits you’ll see your medical plan option will be called the Nexus PPO Plan due to system requirements. You’ll be asked to designate a PCP for yourself and each of your enrolled dependents. You can do so through the medical enrollment page while completing your enrollment in SanBenefits. If you need help finding a PCP, visit Santander’s medical pre-member site at www.whyuhc.com/santander.
For those in the Nexus network, each enrolled family member on your plan will receive a new ID card for 2026.
- If you choose a PCP during annual enrollment, your new ID card will be issued with the PCP listed on the card.
- If you do not choose a PCP during annual enrollment, you will receive an initial ID card with an activation sticker and a letter prompting you to visit myuhc.com or call Member Services to select a PCP.
- After Jan. 1, 2026, you can change your PCP at any time on the myuhc.com website. You will not be denied to receive care for visiting a different PCP than the one you designated.
MetLife Critical Illness Insurance Enhancements
Critical illness insurance can help ease the financial burdens of serious illnesses like heart attack, cancer, Alzheimer’s Disease and more. You can elect coverage in the amounts of $15,000 or $30,000 and cover your dependents too. For 2026 we’re making two enhancements to critical illness insurance without increasing how much you pay through payroll contributions.
First, the amount to be paid out to covered members who complete an eligible Health Screening Benefit (which includes certain preventive care and health checks) is increasing to $100, up from $50. Learn more about the types of care eligible for the Health Screening Benefit and how to request your payment click here.
Additionally, the amount of payment you can receive for over 20 covered conditions is increasing, including, for example, from 25% to 50% for non-invasive cancers; from 5% to 50% for skin cancer; and Type 1 diabetes, coma and paralysis will now be covered at 100%. This chart lists all covered conditions and their coverage levels.
Dependent Care Flexible Spending Account (FSA) Changes for 2026
Santander is adopting the One Big Beautiful Bill Act provision that allows employees to contribute up to $7,500 to their Dependent Care FSA for 2026, an increase from the current limit of $5,000. This new limit applies to individuals and couples filing jointly. The limit will be $3,750 for married individuals filing separately.
For 2026 employees who are considered “highly compensated employees (HCE)” will not be eligible to participate in the Dependent Care FSA. Each year, Santander's Dependent Care FSA is subject to IRS nondiscrimination testing to ensure the pre-tax benefits available under the benefit do not favor HCE’s. Historically Santander has not passed this testing and been required to greatly reduce the amount HCE’s can contribute to their Dependent Care FSA.
You are considered an HCE for 2026 if your total 2025 wages plus your applicable paycheck contributions towards your medical, dental, vision, commuter and/or 401(k) plan exceed $160,000. If you’re eligible to contribute to the dependent care FSA you’ll see this page during your enrollment in SanBenefits.
HCE’s may be able to claim dependent care expenses through the federal child and dependent care credit when filing their annual tax return. We recommend speaking with your personal tax advisor and reviewing this FAQ for more information.
More Opportunities to Save with IRS Contribution Increases
For 2026 the IRS has raised the maximum amounts you can contribute to your Health Savings Account (HSA) and Dependent Care Flexible Spending Account (FSA). These contributions are deducted from your paycheck on a pre-tax basis, which helps provide a little more money in your pocket each pay.
HSA: Works with the HSA Choice Plus medical plan. Set aside money for everyday and unexpected out-of-pocket healthcare expenses for you and your eligible dependents.
- Self-only coverage - $3,900, up from $3,800 in 2025
- Any other level of coverage - $7,750, up from $7,550 in 2025
- Catch-up contributions for those age 55 and older remains at $1,000
Dependent Care FSA: Set aside money to help pay for eligible child (under age 13) or adult/elder dependent care costs.
- Increasing to $7,500 per household (individuals and couples filing jointly or $3,750 for married individuals filing separately), up from $5,000 in 2025
Healthcare FSA: 2026 limits will be shared once they’re announced by the IRS.
SanBenefits Enhancements
We’ve made enhancements to SanBenefits to make sure the information you need to know is right at your fingertips and to simplify your enrollment experience, including:
- A new “My Tasks” section on the home page with helpful reminders about any actions you may need to take, including submitting Evidence of Insurability for supplemental life insurance and long-term disability insurance.
- A new navigation bar on the left side of each page in the enrollment process that tracks your total paycheck contributions as you select your benefits, shows your progress through enrollment and more.
- New key plan details will be displayed on many of the enrollment pages.
- A “Useful Documents” section is included on some pages during enrollment that provides resource documents that are most relevant to helping you make your selection.
- A new “Compare to Current” button that will show on each page during the enrollment process when you’re enrolled in that benefit that compares your current benefit election to the others options available on that page.
These tools supplemental the ones already available in SanBenefits like Sofia, the virtual AI assistant; the Decision Support Tool to help you know what plans may work best for your needs; your Total Rewards Statement where you can see the many ways Santander invests in you, and more.
This site describes certain Santander benefit plans and policies. Your eligibility for and entitlement to a benefit mentioned herein are governed by the terms of the official plan document or policy. Santander reserves the right to amend or terminate its plans and policies in full or in part at any time for any reason. In the event of a conflict between this site and the official plan document or policy, the official plan document or policy will control. Your employment is at will.