Benefit credits means any amount that the Employer, in its sole discretion, may contribute on behalf of each Participant to provide benefits for such Participant, his/her or her Dependents and/or Adult Children, if applicable, under one or more of the Benefit Option(s) offered under the Plan. The amount of employer contribution that is applied towards the cost of the Benefit Option(s) for each Participant and/or level of coverage shall be subject to the sole discretion of the Employer and may be adjusted upward or downward at any time at the contributing Employer's sole discretion. The amount shall be calculated for each Plan Year in a uniform and nondiscriminatory manner and may be based upon the Participant's dependent status, commencement or termination date of the Participant's employment during the Plan Year, and such other factors as the Employer shall prescribe. To the extent set forth in the Summary Plan Description or enrollment material, the Employer may make Benefit credits available to Participants and allow Participants to allocate the Benefit credits among the various Benefit Options offered under the Plan in a manner set forth in the Summary Plan Description or enrollment material. In no event will any Nonelective Contribution be disbursed to a Participant in the form of additional, taxable Compensation except as otherwise provided in the Summary Plan Description or enrollment material.
Benefit credits means the amount set aside for the benefits under Section 3.4 and credited to the Participant’s Benefit Account(s).
Examples of Benefit credits in a sentence
Benefit credits may be used to purchase or pay the price of each insured's benefit selected.
Employees’ Flexible Benefit credits under the “Choices” Flexible Benefit Program will be based upon the following formulas: The flex credit formula for regular full-time employees will be 1.75% of base straight-time annual wages plus $969.00.
Benefit credits are not accumulated or used on other claims.When Wake Forest University is the primary Plan; we will provide the full extent of Benefits under this Summary Plan Description.When Wake Forest University is the secondary Plan, we will pay Benefits coordinated with the primary Plan so that the two Plans will pay up to the amount of the patient’s Allowable Expenses.
Employees’ Flexible Benefit credits under the “Choices” Flexible Benefit Program will be based upon the following formulas: The flex credit formula for regular full-time employees will be 1.75% of base straight-time annual wages plus $925.00.
Xxxx’s reserves the right to restrict the use of Points and Benefit credits in combination with other discounts and promotions.
More Definitions of Benefit credits
Benefit credits means the amount, if any, credited to a non-Grandfathered Officer’s or their Eligible Dependent’s HRA Account in each Plan Year for purposes of determining the amount of benefits for which the Participant is entitled to be reimbursed pursuant to Section 6.2.
Benefit credits means any amount which the Employer may provide to Participants to apply towards the cost of one or more of the Benefit Package Option(s) elected by the Participant. The amount of Benefit Credits allocated to eligible Participants may be adjusted upward or downward on an annual basis before the beginning of each Plan Year in the contributing Employer’s sole discretion. The amount of Benefit Credits, if any, will be calculated each Plan Year in a uniform and nondiscriminatory manner based upon the Participant’s dependent status, commencement date of the Participant’s employment during the Plan Year and/or such other factors as the Employer shall determine. The Benefit Credits, if any, will be set forth in the Adoption Agreement (and/or the enrollment materials). Benefit Credits will not be disbursed to a Participant in the form of additional Compensation if the total cost of the Benefit Package Option(s) elected by the Participant is less than the Benefit Credits allocable thereto or if the Employee declines coverage under the Benefit Package Option(s).
Benefit credits means the amounts set aside for Benefits under Section 3 and credited to the Participant’s Health Reimbursement Arrangement account.
Benefit credits means any amount that the Employer, in its sole discretion, may contribute on behalf of each Participant to provide benefits for such Participant and his or her Dependents, if applicable, under one or more of the Benefit Package Option(s) offered under the Plan. The amount of employer contribution that is applied towards the cost of the Benefit Package Option(s) for each Participant and/or level of coverage shall be subject to the sole discretion of the Employer and may be adjusted upward or downward at any time at the contributing Employer's sole discretion. The amount shall be calculated for each Plan Year in a uniform and nondiscriminatory manner and may be based upon the Participant's dependent status, commencement or termination date of the Participant's employment during the Plan Year, and such other factors as the Employer shall prescribe. To the extent set forth in the Summary Plan Description or enrollment material, the Employer may make Benefit credits available to Participants and allow Participants to allocate the Benefit credits among the various Benefit Package Options offered under the Plan in a manner set forth in the Summary Plan Description or enrollment material. In no event will any Nonelective Contribution be disbursed to a Participant in the form of additional, taxable Compensation except as otherwise provided in the Summary Plan Description or enrollment material.
Benefit credits means the amount set aside for a Benefit Program under Section 3.1 and credited to the Participant's Premium Conversion Account.
Benefit credits means the amounts credited to the Participant’s Healthcare Reimbursement Arrangement Account.
Benefit credits means the total amount