Magna US Benefits
Welcome to Magna Benefits: You're in the Driver's Seat
With Magna benefits, you can confidently plan for the road ahead. With our flexible benefits program, you have access to a competitive package designed to meet your health and financial needs. So, get in the driver’s seat and explore your options to customize your medical, dental and vision coverage to meet you and your family’s needs.
Please note the benefits covered on this page may differ if you are a union employee. Contact your local HR representative if you have any questions.
Benefit Updates for 2026
Magna continually assesses our full package of flexible benefits and providers to ensure we are meeting the needs of our employees' health and wellbeing. That's why we're making some exciting changes for 2026—so you have more choices and more ways to save.
- Three new medical plans with updated designs to better meet employees' unique health and financial needs, at different price points. See the specifics of each plan and select the one that best suits you.
- A new Health Savings Account (HSA) with a Magna employer contribution to help you save for healthcare expenses now and in the future. The HSA is available to those who select the NEW Advantage High Deductible Health Plan (HDHP).
- This year only, you can sign up for, or increase, your Optional Life Insurance—no medical exams or health questions needed.
- A new Flexible Spending Account (FSA) vendor, Wex, is being used this year to improve service. As a reminder, FSA elections do not rollover from year to year so you will need to re-elect or elect during Open Enrollment if you would like a FSA in 2026. If you do, you will receive a new FSA debit card from Wex.
- We are adding Lightcare to our vision plans to better support your eye health in today's screen heavy world. These lens can be purchased for all family members, even those without a prescription.
Get Ready for Open Enrollment: November 10 - 21, 2025:
It’s almost time to choose your benefits for 2026! This is your one time each year to review your options and pick what’s best for you and your family.
Key Dates:
Here’s what to expect as you get ready to choose your 2026 benefits:
- October / Early November: Take time to review your Open Enrollment materials
- November 10: Open Enrollment begins
- November 21: Last day to enroll or make changes
- Late December: If you’re new to Magna’s plan or made changes, your ID cards should arrive
- January 1: Your new benefits start!
Important Reminders:
- If you don’t make changes, most of your current benefits will stay the same—but any changes to costs or coverage will apply.
- Want an FSA for you or your dependents? You’ll need to sign up again for 2026.
- Your benefits choices last all year and cannot be changed—unless you experience a qualifying life event (like getting married or having a baby).
- Need help? Your local HR team is here for you!
How to Enroll:
You can make your benefit elections through the self-service feature by logging into Workday on a computer or mobile device. As a reminder, you can also access Workday via the Workday or mylife apps. Please reach out to HR if you should need assistance logging in and/or making your benefit elections.
Eligibility & Enrollment
All regular full-time employees regularly scheduled to work at least 30 hours per week.
Medical & Pharmacy (Rx)
Magna offers you choice and flexibility when it comes to electing medical coverage through Blue Cross Blue Shield of Michigan (BCBSM).
It is important to review your options so you can choose the right plan for you and your family. Try this cost estimate calculator to help determine which plan is best.
What is in the Plan:
All three of our plans will continue to allow you to:
- Go to any doctor or hospital, without a referral, but you will save money when you use ones that are in-network with BCBS.
- FREE preventive care which are your yearly check-up, cancer screenings, and shots (like vaccines) to keep you and your family healthy.
- Access a Teladoc Visit for FREE where you can talk to a doctor or mental health provider online.
- You don’t need a referral to see a specialist—just go!
Note: If you don’t make any changes during open enrollment, you’ll be moved to the new version of your current plan as outlined below.
| Bronze > Advantage HDHP | Sliver > Standard PPO | Gold > Enhanced PPO |
|---|---|---|
| This plan is similar the 2025 Bronze/Silver Plan, with a few small changes.
| This plan is similar to the 2025 Gold Plan, with a few small changes.
|
| In-Network | Advantage HDHP | Standard PPO | Enhanced PPO |
|---|---|---|---|
| Deductible Employee/Family | $1,700/$3,400 | $500/$1,000 | $200/$400 |
| Coinsurance | 20% | 20% | 20% |
| Out-of-Pocket Maximum Employee/Family | $4,000/$8,000 (includes deductibles and coinsurance) | $3,500/$7,000 (includes deductibles, coinsurance and copays) | $2,000/$4,000 (includes deductibles, coinsurance and copays) |
| PCP Office Visit Copay | 20% after deductible | $25 | $20 |
| Specialist Office Visit Copay | 20% after deductible | $45 | $20 |
| Urgent Care Copay | 20% after deductible | $50 | $20 |
| Emergency Room Copay | 20% after deductible | $150 then 20% coinsurance after deductible; copay waived if admitted | $150 then 20% coinsurance after deductible; copay waived if admitted |
Pharmacy
When you sign up for a Magna medical plan, you’re also covered by our pharmacy plan through Express-Scripts.
New to the Advantage HDHP Plan? Here’s what you should know:
- For most prescriptions, you’ll need to pay your deductible first before the plan helps with costs.
- But here’s some good news: some maintenance medications (the ones you take every day) are covered right away. You don’t have to meet your deductible first, but coinsurance will apply. Click here to see examples of medications that are covered right away.
- To check what a prescription will cost on this plan, log in to express-scripts.com and go to "Price a Medication" under Prescriptions. You'll see the cost under your plan today, but click "Price Details" to view the Total Medication cost—this is what you'll pay until your deductible is met.
Want to spend less on your medications? Try these tips:
Use Mail Order
- Get up to a 90-day supply of your regular medications
- Pay less than you would at the pharmacy
- Free shipping to your home
Use the Express Scripts App
- Refill your prescriptions anytime
- Check for drug interactions
- View your ID card
- Pay your bill—all from your phone
Choose Generic Drugs
- Generic drugs are just as effective as brand-name ones
- They cost less and have the same ingredients
Mail Order is a Must for Maintenance Medications
If you take daily medication for things like high blood pressure, diabetes, or high cholesterol:
- You can fill your first three prescriptions at a regular pharmacy
- After that, you must switch to mail order—or you’ll have to pay the full cost at the pharmacy
| Enhanced PPO/Standard PPO | Advantage HDHP | |
|---|---|---|
| Deductible | None | Combined with Medical |
| Retail — 30-day supply | ||
| Generic | 20% ($4 minimum / $25 maximum) | 20% after deductible |
| Preferred | 25% ($20 minimum / $60 maximum) | 20% after deductible |
| Non-preferred | 50% ($75 minimum / $150 maximum) | 20% after deductible |
| Mail Order — 90-day supply | ||
| Generic | 15% ($8 minimum / $50 maximum) | 20% after deductible |
| Preferred | 20% ($40 minimum / $120 maximum) | 20% after deductible |
| Non-preferred | 50% ($150 minimum / $300 maximum) | 20% after deductible |
Health Savings Account (HSA)
An HSA helps you save money for medical costs now or later. If you do elect the HSA – it can give you big tax savings:
- No taxes when you put money in
- No taxes on interest earned
- No taxes when you use it for health expenses
To open an HSA, you must:
- Be enrolled in the Advantage HDHP plan
- Live in the U.S. and have a Social Security Number
- Not be on Medicare, Medicaid, or Tricare
- Not be claimed as someone else’s dependent
- Not have money in a Health Care FSA
Review the HSA eligibility rules here.
For more detailed information watch the HSA Webinar here.
Find out what items are eligible for FSA and HSA online here.
Want to learn about how an HSA can help you based on your lifestyle and financial goals? Check out My HSA Planner Tool here.
Why people love HSAs:
- You own it—it’s yours to keep, even if you change jobs
- Your money rolls over every year—no “use it or lose it”
- You get triple tax savings
- No tax when you put money in
- No tax on the money it earns
- No tax when you use it for health expenses
Bonus: Magna will add money to your HSA in 2026!
- $400 for individuals
- $800 for families
If you sign up for the HSA, Magna will give you 1/4 of the annual amount each quarter. For example, if you’re enrolled in the Advantage HDHP Family Plan AND elect the HSA, you’ll get $200 at the end of March, June, September, and December. That adds up to $800 for the year!
You choose how much to save from your paycheck—and you can change it anytime.
2026 Limits:
- Individual: $4,400
- Family: $8,750
- Catch-Up (age 55+): $1,000
Just remember: the limit above includes both your money and Magna's contribution. So, if you want to hit the max in 2026 and you’re under 55, and in the family plan, you should only contribute $7,950 yourself. Magna’s $800 will bring you to the full $8,750 limit.
Flexible Spending Accounts (FSA)
Flexible Spending Accounts (FSAs) let you set aside money before taxes to pay for certain costs. But be careful and estimate accordingly—if you don’t use the money by the end of the year, you will lose it. The good news is, the Health Care and Limited Purpose FSA let you roll over a small amount to the next year.
You can choose from three types:
Health Care FSA
2026 Annual Limit $3,300.
Use this for things like doctor visits, prescriptions, dental care, and vision care.
Dependent Care FSA
2026 Annual Limit $7,500.
Use this to help pay for daycare while you’re at work or school. This is not for medical costs for dependents.
Limited Purpose FSA
2026 Annual Limit $3,300.
If you or your spouse have an HSA, you can use this for dental and vision costs.
*If you have funds in a Health Care FSA and elect an HSA next year, any rollover amount be transferred to this.
Rollover Feature:
You can carry over up to $660 of unused money in your Health Care or Limited Purpose FSA to next year—even if you don’t sign up again. But if you want to choose the Advantage HDHP and HSA in 2026, try to use all your Health Care FSA money in 2025. That’s because you can’t put money into an HSA if you still have leftover Health Care FSA funds. Don’t worry though—if you happen to forget, we’ll help! If you sign up for an HSA and still have rollover money, we’ll move it to a Limited Purpose FSA for you.
Access your FSA or HSA on the go 24/7 with the WEX benefits mobile app. The benefits mobile app keeps your benefits always within reach.
Dental
Keep your smile healthy with Delta Dental. Taking care of your teeth helps keep your whole body healthy.
Both dental plan offerings help you save money on cleanings, checkups, and other dental care. Look at each plan and choose the one that fits you and your family’s needs.
No card needed!
You don’t need to carry a dental ID card. Your dentist can find your information using your Social Security Number. You can also use your virtual ID card in the Delta Dental app or online in the member portal.
| Standard Plan | Enhanced Plan | |
|---|---|---|
| Deductible | $50 / person | $50 / person |
| Max Family Deductible | $150 / year | $150 / year |
| Annual Family Maximum | $1,000 / person | $2,000 / person |
| Oral Exams | 2 / year | 2 / year |
| Cleanings | 2 / year* | 4 / year |
| Diagnostic & Preventive Care Coverage | 100% | 100% |
| Basic Services | 20% | 20% |
| Major Services | 50% | 50% |
| Orthodontia | No coverage | 50% up to $2,000 lifetime maximum. No age limit. |
| Monthly Rate | Standard Plan | Enhanced Plan |
| Employee | $11.36 | $17.24 |
| Employee + 1 | $22.72 | $34.47 |
| Family | $34.07 | $51.70 |
Vision
See the road ahead with VSP Vision Coverage. Your eyes are important, and Magna will continue to offer the same two great vision plans to help you take care of them. Both plans help you save money on:
- Eye exams
- Glasses and lenses
- Special member discounts on eyewear and services
New this year: We’ve added something new to both plans! It’s called LightCare, and it helps protect your eyes from screens and sunlight. You can now use your frame and lens allowance on:
- Non-prescription sunglasses
- Blue light filtering glasses (great for work or when you’re using your phone or computer at home)
| Standard Plan | Enhanced Plan | |
|---|---|---|
| Glasses or Contact Allowance | Every other calendar year* | Every calendar year |
| WellVision Exam | $20 every calendar year | $10 every calendar year |
| Frame Allowance | Up to $150 | Up to $195 |
| Contact Allowance | $130 | $150 |
| Extra Savings | Glasses/Sunglasses, Laser Vision Correction, LightCare | |
| *Children aged 26 and under eligible for glasses annually | ||
| Monthly Rates | Standard Plan | Enhanced Plan |
| Employee | $2.48 | $5.56 |
| Employee + 1 | $4.96 | $11.11 |
| Family | $7.97 | $17.87 |
Employee & Family Assistance Program (EFAP)
Our Employee and Family Assistance Program (EFAP) is offered to you through Workplace Options (WPO). Whether you need advice, counseling or just a little extra help, Magna’s Employee Family Assistance Program (EFAP) is here for you 24/7/365.
Through the EFAP, you can reach out to safe, confidential resources to get help navigating complex life challenges like finances, relationships and health concerns.
You can also get information on specific health topics. For example, try a self-directed e-learning course, or get assistance locating child or elder care services or legal resources. Get help achieving your emotional, practical and physical wellbeing. Check out what’s on-demand on the EFAP.
For assistance, reach WPO by:
Phone: 1-984-810-5304
Website: https://global.helpwhereyouare.com with Company Code: Magna
Email: support@resourcesforyourlife.com
401(k) Retirement Savings
Magna helps you save for life after work with a 401(k) retirement plan.
Here's how it works:
- You’re automatically enrolled at 6% of your pay after 30 days.
- You can change your savings amount anytime—even to 0%.
- You can choose to save pre-tax, Roth after-tax, or voluntary after-tax.
- You can save 1% to 50% of your pay each pay period.
Magna helps you save more:
- After 6 months, Magna gives you 3% of your pay—even if you don’t save anything.
- Plus, Magna matches 50% of the first 6% you save. That’s free money for your future!
Create or manage your account:
- Visit www.principal.com
- Click "Invest & Retire"
- Click "Enroll in your 401(k) Plan"
- Click "Get Started"
- Follow the prompts to complete the registration process and make changes to your account
Life Insurance and Disability
Magna provides two (2) times your base annual salary in life insurance and accidental death and dismemberment insurance, along with $5,000 for your spouse and $2,500 for your dependents up to the age of 26 at no cost to you. You can also elect supplemental voluntary life insurance for yourself, your spouse and your dependents.
Magna provides Short-Term Disability to all full-time employees at no cost to you. For more information on your plan design, please see your local HR representative.
Magna offers Long-Term Disability plans and Buy-up Long-Term Disability plans. For more information on your plan design, please see your local HR representative.
This year only: During the Open Enrollment period, employees may elect Supplemental Life Insurance coverage equal to 1, 2, or 3 times their annual earnings, up to a maximum of $750,000, without requiring Evidence of Insurability (EOI). Spouses under age 65 may also elect coverage in increments of $1,000, up to a maximum of $50,000. This is open for all existing Magna employees and spouses in the US during Open Enrollment period.
Disability:
Feel better, live better – Magna has extra benefits just for you! Life gets busy—but we have your back with helpful programs and tools to make things easier, healthier, and less stressful.
TruHearing through VSP:
Magna Perks at Work:
Blue365:
Nationwide Pet Insurance:
Omada
Magna has partnered with Omada to help members lose weight and create healthier habits through one-on-one personal coaching and the tools needed to make long-lasting health changes – for FREE!
Visit omadahealth.com/magna to see if you qualify.
Good For You - Magna Employee Wellness Site
The “Good for You” Magna Wellness program offers fun, interactive, educational health and wellness resources and initiatives to help you achieve optimal health. Get the knowledge and tools to achieve your health goals.