Page 3 - Marcus & Millichap EE Guide 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 Benefits Plan Year:
As an eligible employee, you may enroll at the following times: April 1– March 31
• 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 indemnity plan, voluntary life/AD&D, long term care, long term
disability buy-up, cancer guardian, and voluntary short term disability benefit you elect is paid for post-tax or after taxes are
withheld.

Changes To Enrollment
Our benefit plans are effective April 1st through March 31st. There is an annual open enrollment period each year, during which
you can make new benefit elections for the following April 1st effective date. Once you make your benefit elections, you cannot
change them throughout 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 benefit
• Birth or adoption of a child options change)
• A qualified medical child support order • Loss of coverage through Medicaid or Children’s Health
• Death of a spouse or child Insurance Program (CHIP)
• A change in your dependent’s eligibility status • Becoming eligible for a federal or state premium assistance
• Loss of coverage from another health plan program under Medicare, Medicaid, or CHIP

Coverage for a new dependent is not automatic. If you experience a qualifying event, you have 30 days to update your coverage.
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 con-
fusing. For a quick video that shows how these work, visit http://video.burnhambenefits.com/terms.

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