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News To Know
Below are some items to keep in mind for 2026.
Polar Assistance
Individual: Jean Latzke
Phone: 952-876-3308
latzkej@polarsemi.com
Enrolled in an HSA? You must re-enroll for 2026.
Per IRS regulations, if you are currently enrolled in a Health Savings Account (HSA) you MUST re-enroll if you wish to continue contributing in 2026. HSA contribution limit for 2026 is $4,400 single coverage and $8,750 family tiers coverage. An additional $1,000 if you are 55 or older during 2026.
Enrolled in an FSA? You must re-enroll for 2026.
Per IRS regulations, if you are currently enrolled in a Healthcare Flexible Spending Account (FSA) or Dependent Care Flexible Spending Account (DCFSA) you MUST re-enroll if you wish to continue contributing in 2026. Healthcare Flexible Spending contribution limit for 2026 is $3,400. Dependent Care Flexible Spending contribution limit for 2026 is $7,500 if you are a single employee or married filing jointly and $3,750 if you are married filing separately.
MN Paid Family Medical Leave
Effective January 1, 2026, the state of Minnesota will have a Paid Family Leave (PFL) program. This will be administered by New York Life for our employees. You may take PFL for qualified medical and family leave.
Critical Illness and Accident Insurance
The Critical Illness and Accident insurance coverages are now being offered through New York Life. 2025 Transamerica enrollments have been mapped into the 2026 New York Life plans in Workday.
Voluntary Life Insurance Enrollment Opportunity
For this annual open enrollment only, New York Life is offering special "guaranteed issue" rules. 2026 open enrollment elections will follow the same "guaranteed issue" rules as for New Entrants. With no medical questions asked, employees can elect/increase up to $300K in Life/AD&D. Spouses can elect/increase up to $30K.
2026 Time Off Changes
SALARIED EMPLOYEES
MN Sick and Safe Time (SST): accrual stopping as of 1/1/26; unused SST can be run out
Floating Holiday: 48 hours deposited on 1/1 and 48 hours deposited on 7/1
Birthday Holiday: ending in 2026, hours are included instead in Floating Holiday
HOURLY EMPLOYEES
Floating Holiday: 24 hours deposited on 1/1 and 24 hours deposited on 7/1
Birthday Holiday: ending in 2026, hours are included instead in Floating Holiday
2026 401(k) Roth Catch Up - High Earners
If you're age 50 or older and your FICA wages in 2025 exceed $145,000, any catch-up contributions you make to your plan account will be made as Roth contributions - meaning they will be made with after-tax dollars.
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