What's New for 2025

Review this page to find out what you need to know and do during Open Enrollment. Then enroll in your 2025 benefits between November 11 and November 22. After Open Enrollment ends, you can’t change your benefit elections until the next Open Enrollment unless you experience a qualifying life event.

Your enrollment checklist

Use this checklist to make the most of your Open Enrollment opportunity:

• Learn about your benefit options, paying special attention to what’s changing for next year.
• Use the tools and resources available, including the Medical Plan Cost Estimator, to help you make informed benefit decisions.
• Update your Flexible Spending Account (FSA) enrollment and/or Health Savings Account (HSA) contribution amount — they don’t automatically carry over to the next year.
• Make sure your dependent information is correct and all your dependents are still eligible.
• Review your beneficiary information and make updates as needed.
• Complete your benefits enrollment by November 22. Learn how to enroll.

Please review the eligibility requirements for MarketAxess health and welfare benefits below.

For you

You are eligible for health and welfare benefits if you are a full-time employee regularly scheduled to work at least 30 hours per week (or the minimum number of hours to comply with state mandates).

For your dependents

Your dependents become eligible for coverage on the same date you do. Documentation for dependent eligibility will be required. Eligible dependents are your:

• Legal spouse/domestic partner
• Dependent child(ren) as follows:
• For medical benefits: Children under age 26, including stepchildren, foster children and adopted children
• For dental and vision benefits: Unmarried children under age 26 who depend on you for support, including stepchildren, foster children, and adopted children
• For medical, dental, and vision benefits: Disabled child of any age (with documentation) who is dependent on you for support due to a mental or physical handicap that began before reaching age 19

Each year, we carefully review our benefits program to ensure we continue offering comprehensive and competitive benefits. For 2025, there are no provider and no plan design changes to your medical, dental, and vision plans. You’ll have the same great options you’ve come to rely on, with only a few minor changes:

2025 Coverage Costs

• As the cost of health care continues to rise, so does the cost of providing quality health benefits. For 2025, MarketAxess is absorbing the majority of this increase, keeping the increase in your premiums to a minimum. Contributions for the PPO and EPO will be increasing by 6%. Contributions for the HDHP medical plan, dental, and vision plans are remaining the same as in 2024. View your 2025 contributions.

Increased Health Savings Account (HSA) Limits

• Save more through the Health Savings Account (HSA) when you are enrolled in the HDHP medical plan for 2025. You will elect your HSA pre-tax contribution amount during Open Enrollment but can change it anytime during the year by reaching out to HRTeam@marketaxess.com. Next year, the annual IRS HSA maximum contribution amount will increase as follows:
  • Employee only coverage: $4,300 (an increase of $150)
  • All other coverage levels: $8,550 (an increase of $250)
  Keep in mind that these amounts include MarketAxess’ contribution ($650 of employer funding for employees with individual coverage, and $1,300 for those that elect employee plus dependent coverage). As a reminder, all HSA dollars are yours to keep and can be used to save for retirement health care needs. You must take action if you want to contribute to an HSA next year.

Increased Health Care Flexible Spending Account (FSA) Limits

• You’ll be able to set aside more in the Health Care Flexible Spending Account (FSA) for qualified health care expenses. You will elect your FSA contribution amount during Open Enrollment, but unlike with an HSA, you won’t be able to change it during the year unless you experience a qualifying life event such as marriage or the birth of a child. The Health Care FSA contribution limit is projected to increase by $100 to $3,300, and the Dependent Care FSA limit will remain unchanged at $5,000. You must take action if you want to contribute to an FSA in 2025.

Increased 401(k) Limits

• For 2025, you can increase your contributions to your 401(k) retirement savings. The annual contribution limit is increasing from $23,000 to $23,500.
• If you will be age 50 to 59 or 64 or older by December 31, 2025, you can contribute an additional $7,500 in catch-up contributions (up to $31,000 total). If you will be between age 60 and 63, you can contribute up to $11,250 in catch-up contributions (up to $34,750 total).
• Note that participation in the 401(k) is not part of the Open Enrollment process — you can change your payroll contribution amount anytime during the year by logging in to UKG and selecting Myself > Life Events > Change my 401(k).
• Remember, MarketAxess matches 100% of your 401(k) contributions up to $17,500 per year.

Commuter Benefits Limits

• Save more toward eligible parking and/or transit costs next year when you enroll in MarketAxess’ Commuter Benefits. Contribution limits are expected to increase to $325 per month in 2025. You don’t have to wait until Open Enrollment to start participating; you can enroll and make changes to your payroll contribution amount anytime during the year through UKG.

Choosing the right benefits is important. Our decision support resources can help you understand your options and select the right coverage for you and your family.

• Browse this website to see how your benefits are changing for 2025 and watch the 2025 Benefit Presentation learn about the many health, financial, and other benefits available to you.
• Use the Medical Plan Cost Estimator to quickly see which medical plan may be best for you and how much you could save with a Health Savings Account (HSA) or Health Care Flexible Spending Account (FSA).
• View your 2025 Contribution Rates. Your costs will also be shown in UKG as you enroll.

Your bi-monthly costs for health coverage are shown below. Your benefit costs will also be shown in UKG as you enroll.

2025 per-paycheck medical plan premiums

2025 per-paycheck dental plan premiums

2025 per-paycheck vision plan premiums

To enroll in benefits, you will need to make your elections in UKG. Here’s what you need to do:

Step 1: Log in to UKG
You will need to log in to OKTA to access UKG. If you need help with Open Enrollment, contact the HR Team.

Step 2: Select an Open Enrollment Session
Under Myself/Open Enrollment, select a session on the Open Enrollment page.

Step 3: Review & Submit Elections

• Click "Draft" to continue making your elections at a later time or click "Submit" to complete your elections now.
• For Open Enrollment, you will be able to access and change your elections after you submit them until the Open Enrollment period ends on November 22. When you access an election you've already submitted, the Confirmation page appears with a "Modify Election" button.