Company-Paid Health Insurance Clause Samples
The Company-Paid Health Insurance clause establishes the employer’s obligation to provide health insurance coverage for employees, typically at the company’s expense. This clause outlines the types of health insurance plans offered, eligibility requirements, and the extent of coverage, such as whether dependents are included or if premiums are fully or partially paid by the employer. Its core function is to ensure employees receive health benefits as part of their compensation package, promoting employee well-being and helping the company attract and retain talent.
Company-Paid Health Insurance. In the event of Executive’s Constructive Termination pursuant to this Section 9(e), from the termination date through the earlier of (A) the date on which Executive becomes eligible for coverage under another group health insurance plan with no pre-existing condition limitation or exclusion, or (B) the date on which Executive becomes entitled to benefits under Medicare, Executive (and any qualified dependents) shall be entitled to group health insurance coverage. Such coverage shall be provided, at the option of Wintrust, either: (x) under the Wintrust group health insurance plan for employees (as such plan is then in effect and as it may be amended at any time and from time to time during the period of coverage) in which Executive was participating immediately prior to termination, at Wintrust’s expense, subject to any normal employee contributions, if any; or (y) under an individual health insurance policy having coverage similar to that provided by the Wintrust group health plan for employees (as such plan is then in effect and as it may be amended at any time and from time to time during the period of coverage), at Wintrust’s expense. Executive shall promptly notify Wintrust if Executive becomes eligible for coverage under another group health plan with no pre-existing condition limitation or exclusion or Executive becomes entitled to benefits under Medicare.
Company-Paid Health Insurance. In the event of Executive’s termination pursuant to this Section 9(d), from the termination date through the earliest of (A) the expiration of the maximum period of COBRA coverage, (B) the date on which Executive becomes eligible for coverage under another group health insurance plan with no pre-existing condition limitation or exclusion, or (C) the date on which Executive becomes entitled to benefits under Medicare, Executive (and any qualified dependents) shall be entitled to group health insurance coverage under the Employer’s group health insurance plan for employees (as such plan is then in effect and as it may be amended at any time and from time to time during the period of coverage) in which Executive was participating immediately prior to termination, at Employer’s expense, subject to any normal employee contributions, if any. The period during which Executive is being provided with health insurance under this Agreement shall be credited against Executive’s period of COBRA coverage, if any. Executive shall promptly notify Employer if, prior to the expiration of the maximum period of COBRA coverage, Executive becomes eligible for coverage under another group health plan with no pre-existing condition limitation or exclusion or Executive becomes entitled to benefits under Medicare.
Company-Paid Health Insurance. Employee’s medical, dental and vision insurance benefits (for Employee and all dependents) shall cease on the last day in which the Separation Date occurs, subject to Employee’s right to continue health insurance under COBRA. Other than as expressly set forth herein, Employee’s participation in all benefits and incidents of employment, including, but not limited to, the accrual of bonuses, vacation, and paid time off, shall cease as of the Separation Date.
Company-Paid Health Insurance. In the event of Executive’s Constructive Termination pursuant to this Section 9(e), from the termination date through the earlier of (A) the date on which Executive becomes eligible for coverage under another group health insurance plan with no pre-existing condition limitation or exclusion, or (B) the date on which Executive becomes entitled to benefits under Medicare, Executive (and any qualified dependents) shall be entitled to group health insurance coverage. Such coverage shall be provided, at the option of Wintrust, either: (x) under the Wintrust group health insurance plan for employees (as such plan is then in effect and as it may be amended at any time and from time to time during the period of coverage) in which Executive was participating immediately prior to termination, at Wintrust’s expense, subject to any normal employee contributions, if any; or (y) under an individual health insurance policy having coverage similar to that provided by the Wintrust group health plan for employees (as such plan is then in effect and as it may be amended at any time and from time to time during the period of coverage), at Wintrust’s expense. The period during which Executive is being provided with health insurance under this Agreement shall be credited against Executive’s period of COBRA coverage, if any. Executive shall promptly notify Wintrust if Executive becomes eligible for coverage under another group health plan with no pre-existing condition limitation or exclusion or Executive becomes entitled to benefits under Medicare.
Company-Paid Health Insurance. As an employee through the Separation Date, you will remain on the Company sponsored health insurance plan through the last day of the month in which your Separation Date occurs. Thereafter, as provided by the federal Consolidated Omnibus Budget Reconciliation Act (COBRA) and by the Company’s current group health insurance policies, you will be eligible to continue your health insurance benefits and, later, to convert to an individual policy. You will be provided with a separate notice of your COBRA rights after your Separation Date.
Company-Paid Health Insurance. As an employee through the Separation Date, you will remain on the Company sponsored health insurance plan through the last day of the month in which your Separation Date occurs. Thereafter, as provided by the federal Consolidated Omnibus Budget Reconciliation Act (COBRA) and by the Company’s current group health insurance policies, you will be eligible to continue your health insurance benefits and, later, to convert to an individual policy. You will be provided with a separate notice of your COBRA rights after your Separation Date.