Page 3 - Marcus & Millichap Benefit Guide 2019-2020

Enrollment Information

Who May Enroll
If you are a regular full‐time employee consistently working 30 plus hours per week, you and your eligible dependents may
participate in Marcus & Millichap’s benefits program. Your eligible dependents include:
• Legally married spouse
• Registered domestic partner
• Children under age 26 regardless of student or marital status
• Eligibility varies for Sales Office Assistants (SOAs), Sales Intern Program (SIPs), and Licensed Assistants (LAs).
Each benefit has been noted accordingly.

When You Can Enroll

As an eligible employee, you may enroll at the following times:
• As a new hire, you must enroll in ADP within 30 days from your date of hire. Your benefits will begin the first of
the month following 30 days from your date of hire.
• Each year, during open enrollment
• Within 30 days of a qualifying event as defined by the IRS (see Changes To Enrollment below)

Paying For Your Coverage
The Basic Life/Accidental Death & Dismemberment (AD&D), Long Term Disability and EAP benefits are provided at no cost to
you and are paid entirely by Marcus & Millichap. You and the company share in the cost of the Medical and Dental benefits
you elect. Any medical, dental, vision and flexible spending account benefits you elect will be paid by you and deducted
before taxes are withheld which saves you tax dollars, resulting in more take‐home pay for you. You cannot drop or change
coverage unless you experience a qualifying event. Any accident, critical illness, hospital plan, voluntary life/AD&D, long term
care, long term disability buy-up and voluntary short term disability benefit you elect is paid for post-tax or after taxes are
withheld.

Changes To Enrollment
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Our benefit plans are effective April 1 through March 31 of each year. There is an annual open enrollment period, during
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which you can make new benefit elections for the following April 1 effective date. Once you make your benefit elections,
you cannot change them during the year unless you experience a qualifying event as defined by the IRS. Examples include,
but are not limited to the following:
• Marriage, divorce, legal separation or annulment • Change in your residence or workplace (if your
• Birth or adoption of a child benefit options change)
• A qualified medical child support order • Loss of coverage through Medicaid or Children’s
• Death of a spouse or child Health Insurance Program (CHIP)
• A change in your dependent’s eligibility status • Becoming eligible for a state’s premium assistance
• Loss of coverage from another health plan program under Medicaid, CHIP or Medicare

Coverage for a new dependent is not automatic. If you experience a qualifying event, you have 30 days to update your cover-
age. Please contact our Benefits Team immediately to find out how to enroll a new dependent . If you do not update your
coverage within 30 days from the qualifying event, you must wait until the next annual open enrollment period to update
your coverage.

Video – Learn About Medical Plan Terms
Medical plan terms, such as deductibles, copays, coinsurance and out-of-pocket maximums, can sometimes
be confusing. For a quick video that shows how these work, visit http://video.burnhambenefits.com/terms

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