Contributions by Marvell and Employees

Your Contributions

When you are required to make a contribution toward your coverage, you will make that payment through payroll deductions. Most payroll deductions are made on a “pre-tax” basis, which means they are not taxed. However, your contributions for Supplemental Life and Voluntary AD&D Insurance, Long-Term Disability (Buy-up), Voluntary Benefits and the Employee Stock Purchase Plan are made on an after-tax basis.

Opt-Out Credit

By selecting Opt-Out Credit for Medical, you attest that you and your expected tax family have minimum essential coverage under another group health plan during the period which the Opt-Out Credit applies. Furthermore, you understand that: 

• Coverage through an Individual policy (including through the Exchange) for yourself and your expected tax family does not meet the eligibility qualifications to receive the Opt-Out Credit
• Tax family means individuals for whom you reasonably expect to claim on a personal exemption deduction for the taxable year in which you receive the Opt-Out Credit
• You must attest and confirm each year during the annual open enrollment period
• If you experience a Qualified Family Status Change that impacts your Opt-Out Credit for Medical selection and attestation, you must make your benefit change through the online Enrollment System within 31 days of the event date. 

If you do not meet the Opt-Out Credit requirements, you must select Waive medical coverage if you do not wish to have Marvell medical insurance.

If you qualify for and select the Opt-Out Credit for Medical, you will receive a credit of $250/month (taxable, divided by pay periods). You may remain enrolled in dental and vision insurance and receive the Opt-Out Credit for Medical.  

Imputed Income & Domestic Partners

Due to IRS regulations, contributions for domestic partners and their children cannot be made on a pre-tax basis. In addition, employees will be taxed on the value of the benefit for the domestic partner and the domestic partner’s children.  This may amount to a significant increase in income taxes withheld from your paycheck. For more information and for the calculation based on your benefit selections, please create a case using the HR Service Center.