2026 Annual Enrollment
November 3 – 14, 2025
This is your opportunity to review your health and well-being needs — and invest in the benefits that matter most to you.
Benefits built around you, empowered by choice.
At BMO, we empower you to build a benefits package aligned to your unique needs, giving you the flexibility to choose what works best for you in every season of life.
Here’s a high-level overview of what you need to know to enroll for 2026 benefits. For details, review the 2026 Annual Enrollment Guide.
Need help with your benefits?
Speak with an Enrollment Specialist for help with benefit questions. Go to Workday and click My Benefits & Retirement application to schedule an appointment.
What to expect in 2026
Medical and HSA Elections Automatically Renew
Your current choices will automatically be carried forward and 2026 premiums will apply unless you decide to make changes or waive coverage. But, remember, you must actively make an election to participate in a Flexible Spending Account (FSA).
Dental Plan: New Option
You have a new choice—the Low Option—designed to fit your needs and budget. Both the High Plan (BMO’s current dental plan) and the new Low Plan use the Delta Dental PPO and Premier networks, and cover preventive care at 100%. Here’s what you need to know:
- Both plans have the same deductible and cover basic and restorative services.
- The Low Plan has an annual maximum of $1,000 and does not cover orthodontia. You’ll pay a lower monthly premium.
- The High Plan has an annual maximum of $2,000 and does cover orthodontia. You’ll pay a higher monthly premium.
Legal Plan: Includes Identity Theft Protection
The Legal Plan will offer identity theft protection. This additional protection provides members with access to single-bureau credit monitoring, internet surveillance, full-service identity theft restoration and more.
Premiums
Medical premiums will increase in 2026. However, BMO remains committed to supporting employees by covering the majority of costs. Review 2026 premiums.
HSA: Increased Limits
The IRS is increasing the annual HSA contribution limits to $4,400 for employee only coverage and $8,750 for all other coverage levels. This means you can contribute to the HSA pre-tax up to the new IRS limits less BMO’s core contribution as follows:
- Employee Only: $3,900
- Family: $7,750
Use the HSA worksheet to determine eligibility and how much you want to contribute.
Health Care FSA: Increased Limits
The IRS is increasing the annual amount you can contribute
Dependent Care FSA: Increased Limit
The DCFSA limit for 2026 is $7,500.
Note: If your Total Compensation BBR (TCBBR) in Workday exceeds $160,000, your maximum 2026 contribution will be limited to $2,000 to satisfy IRS non-discrimination rules. If this applies to you, you will receive separate communication.
Be Ready, Get Set, Enroll!
Kickstart your benefits knowledge and prepare for Annual Enrollment with BMO’s Be Ready webinar series, hosted with our benefit partners. Check out recordings of our live webinars to learn more about your benefits.
How to enroll
Go to Workday, click My Benefits & Retirement application
Click on the Make your Annual Enrollment elections banner.
Review your confirmation statement in December to verify that your 2026 benefit elections are accurate.
Important Enrollment Information
If you want to contribute to a Flexible Spending Account in 2026, you must re-enroll by November 14. This includes the Health Care FSA, Limited Purpose FSA, and/or Dependent Care FSA.
Your current elections will automatically be carried forward, and 2026 premiums will apply unless you decide to make changes or waive coverage, including:
- Medical, Dental, and Vision
- HSA elections
- Voluntary Benefits (Accident, Critical Illness, Hospital Indemnity Insurance; Group Legal Insurance)
- Supplemental Long-Term Disability
- Supplemental Life Insurance
- Family Life Insurance
Enrollment Resources
2026 PPO to HDHP Comparison Chart
2026 Benefits Overview Presentation Video
2026 Benefits Overview Presentation (PDF)
Real Financial Progress with the HSA Video
High Deductible Health Plan (HDHP) Video
Health Savings Account (HSA) Video
2026 Express Scripts National Preferred Formulary (includes exclusions)