2026 Open Enrollment

A person is your spouse if you are legally married to each other, and the marriage has not been legally terminated, and you and your spouse are not legally separated.

You must attest that all the following criteria have been met for your same-sex or opposite-sex domestic partner to qualify for coverage:

• You are both at least 18 years old and live together in the same residence and intend to do so indefinitely. You have resided in the same household for at least 12 months.
• You are engaged in an intimate, committed relationship of mutual caring and support and are jointly responsible for your common welfare and living expenses.
• You are each other’s sole domestic partner, and you intend to remain so indefinitely.
• Neither of you is married nor have you had another domestic partner within the prior 12 months.
• You are not related by blood to such a degree that you would be prevented from marrying in the state in which you live.

A child who is under age 26 who is:

• Your, your spouse’s, or your domestic partner’s natural child, stepchild, or legally adopted child or a child who is in the process of being adopted
• A child for whom you, your spouse, or your domestic partner has been appointed legal guardian (you must provide documentation)
• A child for whom you, your spouse, or your domestic partner is required to provide coverage under a qualified medical child support order
• An unmarried child of any age if he or she is dependent on you, your spouse, or your domestic partner for support due to a physical or mental disability

Add insurance coverage for yourself, above and beyond what you automatically receive from Lam.

For 2026, we’re moving our life and accidental death and dismemberment (AD&D) insurance to New York Life. As part of the transition, New York Life is providing these one-time offers this year only during Open Enrollment:

• If you previously elected only $50,000 coverage for your Lam basic life insurance, you can increase to 2x your base salary without providing evidence of insurability (EOI).
• You can increase your supplemental life insurance up to a total of 3x your salary without EOI. (Coverage of 4x your salary or more requires EOI.)
• The combined total of your basic and supplemental life insurance cannot be more than $2 million.
• You can purchase or increase coverage for your spouse or domestic partner up to $200,000 without EOI.
• Coverage up to these amounts is guaranteed, even if you or your spouse or partner have been denied coverage before or have a preexisting condition.

Medical costs continue to rise, but your Lam medical plan increases for 2026 will be lower than the national average—and less than last year’s increases. You’ll contribute more from each paycheck in 2026 because of the increased costs, but Lam continues to cover about 85% of the cost of medical coverage for you and your family.

The cost for dental coverage is increasing slightly, while the cost of vision coverage is staying the same. In fact, the contribution for employee-only VSP Base Plan vision coverage is going down.

If you enroll in a Consumer Directed Health Plan (CDHP), Lam will make a generous contribution of up to $1,300 to your Health Savings Account (HSA) if you have individual coverage and up to $2,600 if you cover yourself and one or more dependents. Plus, you can contribute even more to your HSA, with higher IRS limits in 2026:

• Up to $3,100 if you have individual coverage (for a total of $4,400 with Lam’s contribution)
• Up to $6,150 if you cover yourself and one or more dependents (for a total of $8,750 with Lam’s contribution)
• Up to an additional $1,000 if you’re age 55 or older in 2026

Your 2025 contribution elections will roll over to 2026, so be sure to increase your contributions during Open Enrollment if you want to hit the new maximum amount.

To meet IRS requirements, the individual-in-family deductible for the Anthem and Kaiser Consumer Directed Health Plans (CDHPs) will increase to $3,400 (from $3,300).

The plan will begin to pay benefits for a family member once that person has met the individual-in-family deductible.

Coverage has increased to three cycles for participants undergoing in vitro fertilization (IVF).

You don’t need to do anything during Open Enrollment, but you should know about these changes taking effect January 1, 2026:

401(k) catch-up contributions

If you’re age 50 or older, the IRS allows you to make additional 401(k) contributions. The SECURE 2.0 Act requires you to make these catch-up contributions as Roth if your 2025 FICA wages are more than $145,000—everyone else can choose pretax or Roth. Lam does not match catch-up contributions. 

SECURE 2.0 also created an additional catch-up opportunity if you’re between 60 and 63.

• Ages 50–59 or over age 63: Make catch-up contributions up to $7,500.
• Ages 60–63: Make catch-up contributions up to $11,250.

New York Life is our new insurance partner

In addition to taking over our life and AD&D insurance plans, New York Life will also manage our short-term and long-term disability plans for a smoother experience when you take a leave of absence. Watch for more information this fall if you’re on a leave now or expect to take one soon.

Your medical plan from Lam (or somewhere else) pays for care to keep you healthy and get you back on your feet when you’re sick or injured. But medical insurance won’t help you pay your rent or other everyday expenses.

That’s where these voluntary supplemental medical benefits from MetLife come in handy. The plans pay money directly to you, which you can use for your out-of-pocket medical expenses, like copays and deductibles—or for household expenses and bills.

You can enroll in the supplemental medical benefit plans only during Open Enrollment. You can purchase coverage for yourself, your spouse or domestic partner, and your children, without answering health questions. You pay for these plans with after-tax payroll deductions, so any benefits you receive are not taxed when a claim is paid.

• Accident insurance pays you a lump-sum payment if you’re injured in an accident. 2026 plan enhancements include:
  • Higher benefits paid for fractures, dislocations, surgery, and therapy
  • Increased benefits for organized sports injuries
  • New companion lodging benefit
• Hospital indemnity insurance pays you a lump-sum payment when you’re admitted to a hospital—plus a per-day payment for each day of your stay. The plan covers hospitalization due to injury, illness, and childbirth. 2026 plan enhancements include:
  • Coverage for up to four admissions per year
  • Newborn nursery benefit increased from $50 to $200
• Critical illness insurance provides you with a lump-sum payment of $15,000, $30,000, or $50,000 (depending on the coverage level you select) when you’re diagnosed with a covered health condition. 2026 plan enhancements include:
  • Total benefit payable increased from 500% to 700%
  • New benefits added for autism, sudden cardiac arrest, TIA, and skin cancer
  • Recurrence benefit of 100% added for paralysis, kidney failure, organ transplant, and bone marrow transplant
  • Recurrence-separation and treatment-free period reduced from 180 days to 30 days
  • Required hospital stay reduced from 5 days to 3 days

See what’s covered by each plan: accident plan summary [PDF], hospital plan summary [PDF], critical illness plan summary [PDF].
 

Earn a $50 screening benefit

If you enroll in the hospital indemnity plan and/or critical illness plan, you and your covered dependents can each earn a $50 annual benefit when you complete one of more than 50 eligible health screenings.

For 2025, you must incur eligible Health Care FSA or Dependent Day Care FSA expenses by December 31, 2025, and file your reimbursement request by March 31, 2026.

You can carry over only up to $660 from your 2025 Health Care FSA to your 2026 FSA. You will forfeit any Dependent Day Care FSA balance that is unused at the end of 2025.

For 2026, you can contribute up to $3,300 to a Health Care FSA. You will be able to carry over up to $680 from your 2026 Health Care FSA to your 2027 FSA.

You can also contribute up to the new IRS limit, $7,500, to Dependent Day Care FSA if you’re single or if you’re married and filing a joint tax return, or $3,750 if you’re married and filing separate tax returns.

You will forfeit any unused Dependent Day Care FSA balance at the end of 2026.

Note: If your projected 2026 earnings are higher than $160,000, you will be permitted to contribute only up to $3,000 to a Dependent Day Care FSA, including the 15% matching contribution from Lam. This limit is intended to help the company comply with IRS regulations regarding plan use by highly compensated employees. If the midyear nondiscrimination test shows that Lam does not meet the IRS requirements, your contribution limit may be further reduced. Lam will notify you if this happens.

During Open Enrollment, you can elect the ARAG legal plan for yourself, your parents, and your grandparents for support with a wide variety of legal concerns. And you can enroll in LifeLock identity theft protection to get proactive identity theft monitoring and expert identity restoration support, if needed.