Eligibility for Medical and/or Dental Insurance at Group Rates Sample Clauses

Eligibility for Medical and/or Dental Insurance at Group Rates. 1. The RN who was hired by the Hospital prior to July 1, 1994 will be eligible for medical and/or dental insurance under the Retiree Insurance Program at group rates when the following requirements are met: a. Attainment of age fifty-five (55); b. Twenty
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Eligibility for Medical and/or Dental Insurance at Group Rates. 1. The RN who was hired by the Hospital prior to July 1, 1994, will be eligible for medical and/or dental insurance under the Retiree Insurance Program at group rates when the following requirements are met: a. Attainment of age fifty-five (55); b. Twenty (20) years of credited service, as defined in Section 1, C.1 above; c. Enrollment in one (1) of the Hospital’s medical and/or dental insurance programs for twenty (20) years and enrollment at the time of the RN’s retirement; d. Enrollment in Medicare Part A and B, if retired and eligible to enroll in Medicare Part A and B. e. If the RN does not elect to participate in the Retiree Insurance program, they will be ineligible for future participation in the program. 2. The RN’s spouse will be eligible for spousal insurance coverage under the Retiree Insurance Program if the RN has been enrolled as the RN’s dependent in one (1) of the Hospital’s insurance program for the above stated twenty (20) years. If the RN does not elect spousal participation in the Retiree Insurance program, the spouse will be ineligible for future participation in the program.

Related to Eligibility for Medical and/or Dental Insurance at Group Rates

  • Agreement with Respect to Continuation of Group Health Plan Coverage for Former Employees of the Failed Bank (a) The Assuming Institution agrees to assist the Receiver, as provided in this Section 4.12, in offering individuals who were employees or former employees of the Failed Bank, or any of its Subsidiaries, and who, immediately prior to Bank Closing, were receiving, or were eligible to receive, health insurance coverage or health insurance continuation coverage from the Failed Bank ("Eligible Individuals"), the opportunity to obtain health insurance coverage in the Corporation's FIA Continuation Coverage Plan which provides for health insurance continuation coverage to such Eligible Individuals who are qualified beneficiaries of the Failed Bank as defined in Section 607 of the Employee Retirement Income Security Act of 1974, as amended (respectively, "qualified beneficiaries" and "ERISA"). The Assuming Institution shall consult with the Receiver and not later than five (5) Business Days after Bank Closing shall provide written notice to the Receiver of the number (if available), identity (if available) and addresses (if available) of the Eligible Individuals who are qualified beneficiaries of the Failed Bank and for whom a "qualifying event" (as defined in Section 603 of ERISA) has occurred and with respect to whom the Failed Bank's obligations under Part 6 of Subtitle B of Title I of ERISA have not been satisfied in full, and such other information as the Receiver may reasonably require. The Receiver shall cooperate with the Assuming Institution in order to permit it to prepare such notice and shall provide to the Assuming Institution such data in its possession as may be reasonably required for purposes of preparing such notice. (b) The Assuming Institution shall take such further action to assist the Receiver in offering the Eligible Individuals who are qualified beneficiaries of the Failed Bank the opportunity to obtain health insurance coverage in the Corporation's FIA Continuation Coverage Plan as the Receiver may direct. All expenses incurred and paid by the Assuming Institution (i) in connection with the obligations of the Assuming Institution under this Section 4.12, and (ii) in providing health insurance continuation coverage to any Eligible Individuals who are hired by the Assuming Institution and such employees' qualified beneficiaries shall be borne by the Assuming Institution. (c) No later than five (5) Business Days after Bank Closing, the Assuming Institution shall provide the Receiver with a list of all Failed Bank employees the Assuming Institution will not hire. Unless otherwise agreed, the Assuming Institution pays all salaries and payroll costs for all Failed Bank Employees until the list is provided to the Receiver. The Assuming Institution shall be responsible for all costs and expenses (i.e. salary, benefits, etc.) associated with all other employees not on that list from and after the date of delivery of the list to the Receiver. The Assuming Institution shall offer to the Failed Bank employees it retains employment benefits comparable to those the Assuming Institution offers its current employees. (d) This Section 4.12 is for the sole and exclusive benefit of the parties to this Agreement, and for the benefit of no other Person (including any former employee of the Failed Bank or any Subsidiary thereof or qualified beneficiary of such former employee). Nothing in this Section 4.12 is intended by the parties, or shall be construed, to give any Person (including any former employee of the Failed Bank or any Subsidiary thereof or qualified beneficiary of such former employee) other than the Corporation, the Receiver and the Assuming Institution any legal or equitable right, remedy or claim under or with respect to the provisions of this Section.

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