Enrolling for Your Benefits as a New Hire
Visit SanBenefits to make your benefit elections within 30 days of your hire or rehire date. You can access SanBenefits by visiting www.sanbenefits.com. If you visit SanBenefits directly, and it’s your first time enrolling, you’ll need to click “Register” under “First Time Here?” to set up your username, password and security questions. The company key is “santander” (case sensitive).
Once you’re in SanBenefits, you’ll have access to various resources to help you decide which benefits may fit the needs of you and your family.
- If you make your elections within 30 days of your hire or rehire date, your benefits will become effective on your date of hire or rehire, and will remain in effect throughout 2021 unless you experience a qualified life event such as marriage, divorce or birth or adoption of a child.
- If you elect supplemental life insurance above the "guaranteed issue amount" (5x benefits pay, up to $500,000), your coverage will become effective once Securian (Santander’s life insurance carrier) approves your evidence of insurability (proof of good health).
If you enroll in the HSA Choice Plus medical plan for the first time, and are eligible to open a Health Savings Account (HSA), visit Fidelity’s NetBenefits website to open a Fidelity HSA to receive Santander’s HSA contribution. If you’d like to make pre-tax paycheck contributions to your HSA you will make this election in SanBenefits. Commuter benefit elections for pre-tax parking and/or pre-tax transit are also made on Fidelity’s NetBenefits website (www.netbenefits.com). You become eligible to enroll in the 401(k) Plan, which is administered by Fidelity, following one month of employment. Once you’re eligible, visit www.netbenefits.com and select "Register as a new user" below the Log In box. You can also call Fidelity at (800) 294-4015.
Frequently Asked Questions
Who Is Eligible to Enroll in Santander Benefits?
If you are a regular full- or part-time employee regularly scheduled to work 20 or more hours per week, you are eligible to enroll in Santander medical, dental, vision, FSAs, supplemental life insurance, supplemental AD&D, supplemental LTD, critical illness, pet insurance and the pre-paid legal assistance program. Santander automatically provides core short- and long-term disability coverage, core life insurance and accidental death and dismemberment (AD&D) coverage and business travel accident (BTA) coverage. In addition, Santander provides coverage in the Employee Assistance Program for all employees, regardless of the number of hours they work.
If you elect coverage for a domestic partner who is not a legal spouse or dependent defined by the IRS, a portion of your paycheck contributions for medical, dental and/or vision coverage will be made on an after-tax basis, and Santander will include in your taxable income the value of the employer-provided coverage.
How do I Make Changes to My Benefit Elections?
If you experience a qualified life event during the year, such as marriage, divorce or birth or adoption of a child, you may be eligible to make changes to your benefit elections provided that you make changes within 30 days of the date of the qualified life event. The change(s) you make must be consistent with the qualified life event.
What Family Members Are Eligible for Coverage?
You can enroll the following family members as eligible dependents in Santander medical, dental, vision, supplemental life insurance, critical illness coverage, and supplemental AD&D:
- Spouse or domestic partner.
- Child (natural, adopted, step or for whom you have documented legal guardianship) up to age 26
- Child of your domestic partner up to age 26.
- Disabled child age 26+ who is wholly dependent on you for financial support.
Note: Ex-spouses are not eligible for coverage as of the date of the divorce. When you enroll a family member in coverage, you will be asked to complete an online attestation verifying that the family member satisfies the definition of an eligible dependent under Santander’s plans. Santander reserves the right to request documentation that verifies your family member is an eligible dependent.
What Happens if I Don’t Enroll?
You can enroll in or change your contributions to the 401(k) Plan, as well as your pre-tax HSA and commuter elections, at any time, but your next opportunity to enroll in the other health and insurance benefits will be Annual Enrollment for 2022, unless you experience a qualified life event. As a result, if you are a new hire and don’t take action, you only will have core short- and long-term disability coverage, core life and AD&D coverage, BTA coverage and coverage under the Employee Assistance Program (EAP).
When Will I Receive My Medical and Prescription Drug ID Cards?
You will receive a single ID card for both medical and prescription drug coverage. Your ID card will be mailed to your home address in a plain white envelope approximately two to three weeks after you make your elections in SanBenefits. You also will be able to access your ID card from the UHC and OptumRx websites and mobile apps.
Note: Cards for dental and vision are not mailed to you. When you visit one of these providers, they will simply look up your coverage.
Disclaimer
This document is intended to summarize the key provisions of the Santander health and welfare and retirement plans (otherwise referred to as “the Plans”). Any reference to “the Company” in this document applies to Santander Holdings USA, Inc., for itself and certain of its affiliated companies. Certain benefits under the Plans are available to eligible employees of each of these entities. Complete Plan details are contained in the official Plan documents, which govern in all cases.
Certain benefits under the Plans are provided through a “cafeteria” plan, which means that employees are provided with the opportunity to choose between one or more benefits offered to them and to pay for such benefits on a pre-tax payroll contribution basis. Although the Company expects the Plans to remain in place, the Company reserves the right to amend or terminate the Plan(s) in full or in part at any time for any reason. It is also possible that future changes in state or federal law may require that the Plan(s) be amended accordingly. The provisions of the Plans do not constitute a contract of employment between you and the Company.
This Guide is intended to be a summary of material modifications (SMM) for the applicable plans.
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.