Enrolling for Coverage

What to Know

Thriving together in 2026. Exelixis is proud to offer a great mix of benefits to support your physical, emotional and financial well-being. Here’s everything you need to know to take full advantage of your benefits in 2026.

This year, Open Enrollment runs November 3–19, 2025. Unless you experience a qualified change in status, like marriage, divorce or the birth/adoption of a child, the next time you can make benefits changes will be Open Enrollment 2027 (next fall).

If you want to keep your current benefits in 2026, no action is needed—with two exceptions:

• If you have a Flexible Spending Account (FSA), you must reenroll during Open Enrollment.
• If you’re currently enrolled in the Blue Shield PPO plan, you must select a new plan or waive coverage during Open Enrollment. Otherwise, you’ll be automatically enrolled into the HDHP with HSA plan. (See below for details.)

What’s New for 2026

Your benefits do more than cover the basics. They also help you stay healthy, feel secure and plan ahead. From wellness resources to financial tools and retirement options, Exelixis provides the flexibility to prioritize what matters most for you and your family. Strong choices today mean a stronger 2026—for you, for your family, for all of us.

Here are highlights of what’s coming next year:

Medical Plans

• As previously announced, the Blue Shield PPO plan will not be available in 2026.
  • You must actively enroll in the Blue Shield EPO or the Kaiser HMO or waive coverage during Open Enrollment.
  • If you don’t actively enroll in a new plan, you’ll be automatically moved to the Blue Shield HDHP with Health Savings Account (HSA) for 2026.
• Blue Shield HDHP with HSA plan deductibles and out-of-pocket maximums will be adjusted to comply with IRS requirements, as follows:
  • Deductibles: $1,700 (employee-only coverage) or $3,400 (employee + spouse, child(ren) or family coverage).
  • Out-of-pocket maximums: $2,500 (employee-only coverage) or $4,500 (employee + spouse, child(ren) or family coverage).
• Employee contributions (see Your Contributions Costs below)
  • Plans with premiums that are increasing: Blue Shield HDHP with HSA, Blue Shield EPO, and Kaiser HMO, and dental, and MetLife Legal plans.
  • Plans with premiums that are staying the same: vision and all voluntary employee-paid plans.

Health Savings Account (HSA)

• If you enroll in the HDHP with HSA, Exelixis contributes to your HSA every calendar year. As previously announced, in 2026 the company’s contributions will return to the same levels as in prior years: $1,000 (employee-only) and $2,000 (employee + dependents).
  • Did you know you can access Exelixis’s entire HSA contribution in January? Learn more about the HSA’s unique features.
• In 2026, your HSA contribution maximums are increasing to $4,400 (employee-only) and $8,750 (employee + dependents coverage). The catch-up contribution for employees age 55+ remains $1,000. (See chart below.)
  • Last year, Exelixis temporarily boosted its HSA contribution when the PPO plan was still being offered.
  • For 2026, the company contribution returns to its regular level (shown above), so if you reached your HSA maximum last year, you may need to increase your own payroll contributions to reach the new IRS limits.
  • Adjusting your contribution ensures that you get the full tax advantage and maximize your HSA savings.

2026 HSA Contribution Maximums

Flexible Spending Accounts (FSAs)

• Contribution maximums for the Health Care Flexible Spending Account (FSA) are increasing to $3,400.
• Contribution maximums for the Dependent Care Flexible Spending Account (FSA) are increasing to $7,500.
• If you’re enrolled in the HDHP with HSA, you cannot enroll in the Health Care FSA, but you can enroll in the Limited Purpose FSA for dental and vision and post-deductible medical expenses.
• Remember, to participate in the Dependent Care FSA and Health Care FSA in 2026 you must reenroll during Open Enrollment.

401(k) Retirement Savings Plan

• The pretax contribution maximum is increasing to $24,500.
• In addition, catch-up contributions are also increasing:
  • Ages 50-59 and 64+: maximum is increasing to $8,000.
  • Ages 60-63: maximum is $11,250, as provided by the SECURE 2.0 Act.
  • If you earn $145,000 and above, all catch-up contributions will now be made as Roth contributions. This means they’re made after tax and grow tax free.

Other Benefits

• We’re introducing the Natural Disaster Program! This new program provides financial support to employees who are impacted by natural disasters, including up to two weeks of extra paid time off and up to $5,000 in relief.
• Kaiser infertility coverage is increasing from two cycles to three cycles, bringing it in line with Blue Shield coverage through Progyny, and making our already generous fertility benefits even stronger!
• A new discount program through Perkspot will replace ACI AllOne Concierge services.

What You Need To Do

Open Enrollment

Exelixis continues to expand and enhance benefits to ensure not only that they meet your needs throughout your career, but also that they’re competitive with those offered by our industry peers. Open Enrollment is your chance to review your Exelixis benefits, make updates, and choose the coverage that will help you flourish in the coming year. When each of us thrives, we all thrive together.

Here are the steps to take between November 3 and November 19:

1. Review all the benefits that are new and changing for 2026, even if you’re not making changes.
2. Attend the Open Enrollment events detailed below.
3. Once you’re ready to enroll, log on to Workday.

Open Enrollment Reminders

• If you want to contribute to an FSA in 2026, you must actively re-enroll during Open Enrollment. If you have an FSA right now, you WILL NOT be automatically reenrolled for 2026.
• If you’re currently enrolled in the PPO plan, you must choose another medical plan option or waive coverage for 2026. Otherwise, you’ll be automatically enrolled in the HDHP with HSA plan.
• If you enroll in the HDHP with (HSA) plan, Exelixis contributes to your HSA every calendar year. Even better, you can access the entire annual contribution in January! Just a reminder: Exelixis’s contribution is returning to the level it was in prior years, so you may need to adjust your contribution election during Open Enrollment.
• Outside of Open Enrollment, you can make benefit changes only if you experience a qualified change in status, like marriage, divorce, or the birth or adoption of a child.
• All changes you make during Open Enrollment will take effect January 1, 2026.

Open Enrollment Events

Open Enrollment Education Sessions

Join live in Alameda or virtually via Zoom. (You’ll receive invitations to the virtual sessions by email. To register, simply click on the Zoom link.)

Monday, November 3, 11 a.m.–12:30 p.m. PT

• Session will cover medical, dental, life insurance, HSAs, FSAs, and MetLife legal plans.
• Location: 1951-1-Training Room B and C or register for Zoom session via email.

Tuesday, November 4, 11 a.m.–12 p.m. PT

• Session will cover mental and physical health, family coverage, and financial benefits.
• This will be virtual only, so register for Zoom session via email.

Thursday, November 13, 10 a.m.–11:30 a.m. PT

• Session will cover medical, dental, life insurance, HSAs, FSAs, and MetLife legal plans.
• Location: 1851-1-Training Room D and E or register for Zoom session via email.

Office Hours

Attend live in Alameda or virtually via Zoom. You’ll receive invitations to virtual sessions by email.

Health Fairs

Attend live in Alameda.

Thursday, November 6, 10 a.m.–1 p.m. PT

• Location: 1951-1-Training Room B and C, 1851-1-1-Training Room D and E.

During Wellness Weeks, November 3-19, we’re offering fun activities to support your overall wellness!

Remember to check out the Life@EXEL calendar regularly to find out about all the great events happening at the company.

Your Contribution Costs

2026

Here are your per-paycheck contributions for each medical, dental, and vision plan. To help you make your decisions, read about each plan’s features and benefits.

New Hires

You have 30 days to enroll starting on the date you were hired. Benefits are effective on your hire date, with two exceptions: Health Savings Accounts (HSAs) and the MetLife Legal coverage, which begin on the first day of the month following your hire date. Once you’ve reviewed the information on this site about your benefits and made your decisions, you can enroll using Workday.

Important things to note about your benefits for 2025 and 2026:

• You have 30 days to enroll in benefits that will be effective through the end of 2025.
• Once your New Hire Benefit Event is completed, the Open Enrollment Benefit Event will appear, and you can make your benefit elections for the 2026 Plan Year. If you make any changes to your New Hire enrollment within the 30 days, it will re-trigger the Open Enrollment Benefit Event, and you can make additional changes for the 2026 Plan Year.

If you don’t enroll within the 30-day period or during the Open Enrollment period, you won’t have another chance to enroll until the next Open Enrollment for 2027. This will be the fall of 2026 for benefits effective January 1, 2027, unless you have a qualified change in status.

Review the HIPAA Privacy Notices.

Eligibility

You and your dependents are eligible for health benefits if you work at least 30 hours per week.

Your eligible dependents include:

• Your legal spouse
• Your qualified domestic partner
• Your children up to age 26, including your natural or adopted children, your stepchildren, and your qualified domestic partner’s children
• Mentally or physically disabled children of any age, as long as they became disabled before age 19

Enrolling Your Domestic Partner

You may enroll your qualified domestic partner in medical, dental, vision, voluntary life, and voluntary Accidental Death & Dismemberment coverage.

Your partner may qualify as a domestic partner if:

• Neither you nor your partner is married or legally separated from any other person
• You and your partner are each other’s sole domestic partner and intend to remain so indefinitely

Domestic partners can qualify for benefits coverage in one of two ways:

• Register your domestic partnership as required by your state. You must also complete the Affirmation of the Existence of Registered Domestic Partnership section of the Affidavit of Domestic Partnership form.
• Apply as non-registered partners. This is for individuals who choose not to register or who are not eligible to register their domestic partnership with their state. You must submit an Affidavit of Domestic Partnership form to the Human Resources department during enrollment.

Note: Domestic partners are not currently recognized as IRS dependents; therefore, the portion of premiums your employer pays on behalf of your domestic partner must be taxed. This is called imputed income. Also, any premiums you pay that are attributable to the domestic partner coverage must be taxed. These premiums are deducted on a post-tax basis versus pretax. Please review the Domestic Partner Policy for more information. You can read more about the Exelixis Domestic Partner Policy and find forms.

Making Changes During the Year

Due to IRS regulations, once you’ve made your elections for the plan year, you cannot change your benefits until the next Open Enrollment period. The only exception is if you have a qualified change in status. Your status change will determine the benefit election changes you can make, when those changes take effect, and the deadline for applying to make the changes.

Examples of qualified status changes include:

• Marriage, legal separation, or divorce
• Birth or adoption of a child
• Change in employment status for you or your spouse that results in gaining or losing coverage
• Change in a dependent’s benefits eligibility status (e.g., a dependent child exceeds the maximum age for coverage)
• Loss of a dependent (death)

If you have a qualified status change, and wish to change your benefits, you must request the change by logging in to your Workday account or by contacting the Benefits Team within 30 days of the life-event change. If you miss the 30-day window, you may not change your benefits until the next Open Enrollment.

Note: If you experience a qualified life event between now and the end of 2025, the 2026 Open Enrollment Benefit Event will re-trigger after the Qualified Life Event Benefit Event is finalized.

Enroll now using Workday.

Questions

Submit your benefits-related questions by logging a ticket through the Exelixis ticketing system.

Resources

Go to Additional Resources to see detailed information about your medical plan options:

• Benefit plan summaries for 2026
• Benefit plan summaries for previous years
• Other benefits-related resources