Group Health Plans. Subject to Sections 2(c) and 2(d), if the Covered Employee properly elects COBRA coverage under the Company’s group health and/or dental plans, then for each month of the Continuation Period, the Company will pay the Covered Employee an amount equal to the excess of (i) the portion of the monthly cost for the Covered Employee’s coverage under the Company’s group health and/or dental plans immediately prior to the Covered Employee’s Termination of Employment or, if greater (and if applicable), immediately prior to the Change in Control (subject to the rule for coverage changes discussed below) over (ii) the portion of the monthly cost for the Covered Employee’s coverage under the Company’s group health and/or dental plans that is actually borne by the Company during the Continuation Period. If the level of the Covered Employee’s coverage changes during the Continuation Period, as, for example, from single to family coverage or to no coverage, the amount which the Company shall pay will be determined as if the new coverage level had been the level of coverage in effect immediately prior to the Termination of Employment or Change in Control, as the case may be. Notwithstanding anything to the contrary contained herein, (A) if any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Code under Treasury Regulation Section 1.409A-1(a)(5), or (B) the Company is otherwise unable to continue to cover the Covered Employee under its group health plans (including without limitation, Section 2716 of the Public Health Service Act), then, in either case, the Company shall in its sole discretion decide to either (i) thereafter pay to the Covered Employee an amount equal to each remaining Company subsidy as currently taxable compensation in substantially equal monthly installments over the continuation coverage period (or the remaining portion thereof) or (ii) provide comparable medical benefits pursuant to an alternative arrangement. Any such reimbursement or payment shall be made on or before the 10th day of the calendar month following the calendar month in which any continuation coverage payment was incurred. In addition, the Company shall pay to the Covered Employee during the Continuation Period an amount equal to any Company contribution that the Company would have made on behalf of the Covered Employee to a health savings account (...
Group Health Plans. During the plan year in which the Effective Time occurs, any group health plan established or maintained by Parent or the Surviving Corporation shall, with respect to any eligible Acquired Employee or, as applicable, a family member of an eligible Acquired Employee, (i) waive any waiting period, (ii) waive any exclusion or limitation for preexisting conditions which were covered under any group health plan maintained by the Company prior to the Effective Time, (iii) grant credit (for purposes of annual deductibles, co-payments and out-of-pocket limits) for any covered claims incurred or payments made prior to the Effective Time, and (iv) accept rollovers of the health flexible spending account and dependent care accounts of eligible Acquired Employees.
Group Health Plans. Genworth shall, or shall cause one of its Affiliates to, cause the Genworth Plans to waive any pre-existing conditions limitation and recognize expenses incurred by a U.S. Employee prior to the Trigger Date for purposes of out-of-pocket maximums and deductibles with respect to the calendar year in which the Trigger Date occurs.
Group Health Plans. 18.1 HEALTHCARE BENEFITS PLAN Effective for the term of this Agreement, the Company agrees to provide employees covered by this Agreement the same group medical insurance (to include prescription drug), group dental, group vision, employee life insurance, dependent life insurance, basic long-term disability insurance, supplemental long-term disability insurance, accidental death and dismemberment, health care flexible spending account and dependent day care flexible spending account, and at the same premiums, as the Company provides for its non-bargaining employees employed by the Company in the exchanges covered by this Agreement. The Company in its sole discretion may provide the coverage and benefits required by this Article through insurance and/or self-funded plans. The Company will make available to employees, upon retirement, the same options for retiree health benefits as are offered to similarly situated non-bargaining employees who retire from the Company. The retiree health benefits will be exclusively governed by the terms of the applicable plan(s). The selection and administration of any plans to provide the coverage and benefits required by this Article shall be within the Company's exclusive control and sole discretion. The Company shall therefore have the unilateral right to make any changes which it deems necessary or desirable, including changes to establish, restore and/or maintain the most favorable qualification or treatment of the plan(s) under federal (or any applicable state) law. The selection of the insurers, carriers, agents and/or plan or claims administrators shall also be in the Company's exclusive control and sole discretion. The Company reserves the right to unilaterally amend, change or terminate any one or more or any combination of these plans or flexible spending accounts or any of their features (including, but not limited to, deductibles, co- payments, maximum out-of-pocket expenses, etc.), or the premiums charged to employees (annually or as otherwise deemed necessary) for any plan(s). However, the Company may do so only so long as the amendments, changes and/or terminations apply equally to all eligible employees, both bargaining unit and non-bargaining unit employees, of the Company. The Company will provide the Union with sixty (60) days advance notice of any changes to the various plans. At the request of the Union, the parties will meet to discuss but not negotiate such changes. During the term of this Agreement,...
Group Health Plans. The Borrowers and each Subsidiary (a) provide COBRA Continuation Coverage under group health plans for separating employees in accordance with the provisions of Code ss.4980B(f) and (b) are in compliance with the provisions of ss.1862(b)(1) of the Social Security Act.
Group Health Plans. Seller acknowledges that it will be responsible for providing COBRA notices and applicable COBRA coverage for those Employees employed in the Business as of the Closing to the extent required by the Department of Treasury regulation Section 54.4980B-9.
Group Health Plans. Effective as of the Closing Date, Buyer shall maintain, cause an ERISA Affiliate of Buyer to maintain, or cause ASFC to continue to maintain, for the benefit of all Transferred Employees and their dependents, any group health plan maintained by ASFC and any of ASFC's Subsidiaries or a group health plan that either (i) provides coverage under the same terms and conditions (within the meaning of proposed Treasury regulation section 1.162-26, Q&A 18) as were applicable to the Transferred Employees immediately before the Closing Date or (ii) satisfies the requirements of Code section 4980B(f)(2)(B)(iv), until at least December 31, 1998. To the extent that Buyer or any of its affiliates has the power and authority to do so without unreasonable cost, Buyer or its affiliates shall cause any waiting period, pre-existing condition exclusion, or evidence-of-insurability requirement under any plan, program or arrangement maintained or contributed to by Buyer and providing health, life insurance or disability coverage to be waived with respect to any Transferred Employee who accepts employment with the Buyer.
Group Health Plans. The Borrower will comply, and cause each Subsidiary to comply, in all material respects with the group health plan COBRA Continuation Coverage requirements of Code ss.4980B(f), with all provisions of ss.1862(b)(1) of the Social Security Act and the provisions of the Health Insurance Portability and Accountability Act of 1996. The Borrower will furnish to Lender, as soon as possible and in any event within thirty (30) days after the Borrower knows or has reason to know, notice that the Borrower or any Subsidiary is not in compliance with any provision of Code ss.4980B(f), ss.1862(b)(1) of the Social Security Act, or the Health Insurance Portability and Accountability Act of 1996.
Group Health Plans. With respect to any group health plan subject ------------------ to the requirements of Section 162(l) the Internal Revenue Code of 1986, as amended (the "Code"), and COBRA, which covers employees of the Companies or any ---- of them: (i) such group health plan has been administered in all material respects in accordance with its governing documents and COBRA; and (ii) all filings, reports, premium payments (if any) and notices as to each such group health plan required to have been made on or before the Closing Date to government agencies, participants and/or beneficiaries have been or will be duly made on or before that date. Schedule 4.18 hereto sets forth a list of all ------------- employees of the Companies who currently are eligible to receive COBRA benefits.
Group Health Plans. Each Seller Plan (i) if a group health plan within the meaning of Section 607(1) of ERISA and Section 5000(b)(1) of the Code, is in compliance with COBRA, and (ii) if a group health plan within the meaning of Section 733(a) of ERISA and Section 9832(a) of the Code, is in compliance with Sections 701 through 734 of ERISA and Sections 4980D and 9801 through 9833 of the Code. Seller shall be liable for the continuation of group health plan coverage in accordance with Sections 601 through 608 of ERISA and Section 4980B(f) of the Code for all Employees and other individuals whose loss of coverage occurred prior to or in connection with the Transaction. For purposes of this provision, "group health plan" has the same meaning as set forth in Section 607(1) of ERISA and Section 5000(b)(1) of the Code.
