Page 24 - Marcus & Millichap EE Guide 2020

Important Information

Annual Notices ACA

Marcus & Millichap plans are partially arranged by Marcus & Even though the Affordable Care Act (ACA)’s
Millichap and governed by it’s plan rules and documents. ERISA and penalty for not having health coverage (known as
various other state and federal laws require that employers provide the individual mandate) has been reduced to zero,
disclosure and annual notices to their plan participants. Marcus & if you are a taxpayer in California, you will still be
Millichap distributes annual notices to new-hires, and each year required to have health coverage (unless you
during open enrollment. You may also request a copy by contacting qualify for an exemption) or pay a penalty for the
the Human Resources Department. 2020 tax year. In addition, several other states,
including Massachusetts, New Jersey, and Vermont,
The following are a list of Annual Notices: as well as the District of Columbia, have reinstated
• Medicare Part D Notice of Creditable Coverage: Plans are an individual mandate requirement, and others are
required to provide each covered participant and dependent a considering doing so.
Certificate of Creditable Coverage to qualify for enrollment in
Medicare Part D prescription drug coverage when qualified You may consider these options below to satisfy
without a penalty. this requirement:
• HIPAA Notice of Privacy Practices: This notice is intended to • Enroll in a medical plan offered by Marcus &
inform employees of the privacy practices followed by Marcus & Millichap or another group medical plan
Millichap’s group health plan. It also explains the federal privacy meeting the requirements for minimum
rights afforded to you and the members of your family as plan essential coverage;
participants covered under a group plan. • Purchase coverage through a health insurance
• Women's Health and Cancer Rights Act (WHCRA): This act marketplace;
contains important protections for breast cancer patients who • Enroll in coverage through a government-
choose breast reconstruction with a mastectomy. sponsored program if eligible.
• Newborns’ and Mothers’ Health Protection Act: This act affects
the amount of time a mother and her newborn child are covered However, if you choose to purchase coverage
for a hospital stay following childbirth. through the marketplace, because Marcus &
• Special Enrollment Rights: Plan participants are entitled to Millichap’s medical plans are considered affordable
certain special enrollment rights outside of Marcus & Millichap’s and meet minimum value under the Affordable
open enrollment period. This notice provides information on Care Act, you may not be eligible for a subsidy, and
special enrollment periods for loss of prior coverage or the you may not see lower premiums or out-of-pocket
addition of a new dependent. costs through the marketplace. In addition,
• Medicaid & Children’s Health Insurance Program: Some states employer contributions to your medical benefits
offer premium assistance programs for those who are eligible for will be lost and your portion of medical premiums
health coverage from their employers, but are unable to afford will no longer be paid via payroll deductions on a
the premiums. This notice provides information on how to pre-tax basis.
determine if your state offers a premium assistance program.

For More Information
Summary of Benefits and Coverage (SBC) Go to www.healthcare.gov.

Health insurance issuers and group health plans are required to
provide you with an easy-to-understand summary about your health
plan’s benefits and coverage, referred to as a Summary of Benefits
and Coverage (SBC). This guide is designed to help you understand
the medical plan options offered to you by Marcus & Millichap.
Please refer to the SBC and carrier contracts provided by Kaiser and
Anthem Blue Cross for additional plan details.

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