2027 Annual Enrollment
November 9 – 20, 2026
Take a fresh look and explore benefits that help you and your family stay healthy, feel supported, and thrive.
Choose your 2027 benefits with confidence.
Supporting you and your family remains a priority at BMO. That's why we invest in benefits that help protect your health, enhance your well-being, and strengthen your financial future.
As healthcare costs continue to rise, we're making several updates for 2027 to help keep our benefits sustainable and affordable while maintaining valuable coverage and resources.
Here’s a high-level overview of what you need to know for Annual Enrollment. For details, review the 2027 Annual Enrollment Guide.
Questions during enrollment?
Connect with an Enrollment Specialist for assistance. In Workday, navigate to My Benefits & Retirement to schedule an appointment.
What’s changing in 2027
Medical and Prescription Drugs: Coverage and Costs
To help maintain the long-term sustainability of our benefits program, some deductibles, out-of-pocket maximums, and prescription drug cost sharing amounts will change. See page 6 in the 2027 Annual Enrollment Guide to compare medical plan options.
Leave and Disability: Policy Updates
Changes to Short Term Disability, Long Term Disability, military leave, and a new personal leave policy take effect in 2027. Review details on page 11 of the 2027 Annual Enrollment Guide.
Life Insurance: Plan Design Updates
Employer-paid Basic Life Insurance will change from 2x Total Compensation Benefits Base Rule (TCBBR) to 1x TCBBR. During enrollment, you’ll have a one-time opportunity to increase your Supplemental Life Insurance by 1x without Evidence of Insurability (EOI), up to the guaranteed issue limit of $1,000,000 or 5x your pay, whichever is less. Review details on page 10 of the 2027 Annual Enrollment Guide.
Medical Premiums
While medical premiums will increase in 2027, BMO will continue to cover the majority of the cost. Review 2027 premiums.
HSA: Increased Limits
The IRS is increasing the annual HSA contribution limits to $4,500 for employee only coverage and $9,000 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: $4,000
- Family: $8,000
Use the HSA worksheet to determine eligibility and how much you want to contribute.
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.
- Be Ready: Preparing for Medicare with Via Benefits
- Be Ready: Comparing Medical Plans (Coming October 26 at 12:00 p.m. CT)
- Be Ready: Choosing the Right Dental & Vision Coverage (Coming October 28 at 1:00 p.m. CT)
- Be Ready: Making the Most of Tax Savings Accounts (Coming November 3 at 11:00 a.m. CT)
- Be Ready: Understanding Voluntary Benefits (Coming November 5 at 2:00 p.m. CT)
How to enroll
Go to Workday, navigate to My Benefits & Retirement
Select Alight Worklife to make your elections.
After you complete enrollment, check your confirmation statement to make sure your elections are correct, and save it for your records.
Important Enrollment Information
If you want to contribute to a Flexible Spending Account in 2027, you must re-enroll by November 20. This includes the Health Care FSA, Limited Purpose FSA, and/or Dependent Care FSA.
Your current elections will automatically be carried forward, and 2027 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
2027 PPO to HDHP Comparison Chart
2027 HSA Eligibility & Contributions
2027 Express Scripts National Preferred Formulary
(includes exclusions)
2027 Benefits Overview Presentation Video
2027 Benefits Overview Presentation (PDF)
Real Financial Progress with the HSA Video
