Fidelity Investments published a guide warning that millions of Americans are leaving workplace benefits and tax advantages behind, costing them thousands of dollars each year. The firm identifies specific categories of savings that workers routinely leave on the table, from retirement plan matches to health accounts with triple tax advantages.
Each category represents compensation or tax relief already available to you, and the only barrier is knowing it exists and acting before deadlines pass.
Fidelity calls the 401(k) employer match one of the most powerful overlooked benefits
If your employer offers a 401(k) match, it works as additional compensation deposited into your retirement account every time you contribute. Fidelity’s guide describes the match as one of the most powerful ways to accelerate retirement savings, because the money costs you nothing beyond what you are already setting aside from your paycheck.
There’s a fair amount of health care you can expect to pay for in retirement, and this is simply a more efficient way to pay for it
Many employees miss out by not contributing enough to capture the full match, the guide warns. Fidelity recommends saving 15% of pre-tax income annually for retirement, including employer contributions, but says workers who cannot meet that target should start by saving enough to secure the full match.
“A match is essentially a guaranteed return on your savings,” said Bethany Dever, vice president and relationship manager at Rockland Trust, to Money.com. Denver also said, “Failing to claim it is equivalent to accepting a smaller salary.”
Health savings accounts and FSAs offer tax-sheltered savings that workers should reassess
Fidelity highlights health savings accounts as one of the most tax-efficient vehicles available to workers enrolled in HSA-eligible health plans. HSAs offer a triple tax advantage: contributions are made pre-tax, investment earnings grow tax-free, and withdrawals for qualified medical expenses are never taxed.
The firm suggests contributing the maximum allowed and paying current health care costs from other savings to let the account compound. Flexible spending accounts use a similar pre-tax principle for medical and dependent care expenses but operate on a use-it-or-lose-it basis, meaning unspent funds may vanish at the end of the plan year, according to Fidelity.
Workers cannot contribute to both a health care FSA and an HSA simultaneously, but they can pair an HSA with a dependent care FSA or a limited-purpose FSA in the same year.
Employee stock purchase plans and tax credits add to overlooked savings
Employee stock purchase plans let workers buy company shares through payroll deductions, often at a discount of up to 15% below market price, the guide explains. Many ESPPs also include a lookback feature that lets participants purchase at the lower price from the start or end of the offering period.
Fidelity recommends workers research their plan terms before enrolling, since too much employer stock can leave a portfolio concentrated in a single investment. Tax credits reduce your tax bill dollar-for-dollar rather than simply lowering taxable income the way deductions do, the guide notes.
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Common examples include the Child Tax Credit, the Saver’s Credit for low-to-moderate-income retirement savers, and the American Opportunity Tax Credit. Many taxpayers miss out because they never check whether their income or family situation qualifies them.
Beyond the individual benefits, Fidelity’s guide highlights how the gap between available savings tools and actual participation often widens as workplace complexity increases, as employees juggle multiple enrollment windows, eligibility rules, and contribution limits across plans that rarely communicate with one another.
Workplace perks and rewards cards stretch your everyday dollars further
Many employers offer supplemental benefits, including commuter subsidies, tuition reimbursement, gym memberships, and student loan repayment assistance, Fidelity notes.
The guide recommends reviewing your full benefits package during annual enrollment and checking throughout the year, because employers frequently add offerings without notifying every worker.
Rewards credit cards round out the list as tools for converting everyday spending into cash back or travel points. The benefits only hold if you pay your balance in full each month and remain aware of annual fees, Fidelity warns, since interest on carried balances can quickly erase any rewards you earn.
The compounding cost of ignoring these benefits grows every year you wait
Fidelity’s guide underscores how modern compensation extends far beyond a paycheck, with retirement contributions, tax-advantaged accounts, workplace perks, and credits all shaping a worker’s long-term financial picture.
The largest issue is not necessarily a lack of available benefits, but how often employees overlook them because enrollment rules, deadlines, and plan details receive little attention after hiring or during annual enrollment periods.
The research cited throughout the report shows that even relatively small missed opportunities can accumulate into sizable gaps over time, particularly when employer matches or tax-advantaged savings are involved.
At the same time, programs such as HSAs, ESPPs, and workplace reimbursement benefits illustrate how employers increasingly package compensation in ways that many workers may not fully recognize.
Fidelity’s findings ultimately reflect a broader reality of workplace finance in 2026: many Americans already have access to savings tools and incentives through their jobs, yet a significant share of those benefits remains underused year after year.
Related: Fidelity sounds alarm on 401(k)s, IRAs, Social Security
