Benefit Package Option definition

Benefit Package Option means a qualified benefit under Code § 125(f) that is offered under a cafeteria plan, or an option for coverage under an underlying accident or health plan (such as an indemnity option, an HMO option, or a PPO option under an accident or health plan).

Benefit Package Option means a qualified benefit under Code section 125(f) that is offered under a cafeteria plan or an option for coverage under an underlying accident or health plan.

Benefit Package Option means a qualified benefit under Code §125(f) that is offered under a cafeteria plan, or an option for coverage under an underlying accident or health plan (such as an indemnity option, an HMO option, or a PPO option under an accident or health plan). Benefits prohibited under Code §125(f) (such as long-term care insurance and certain Exchange-participating qualified health plans) are not permitted Benefit Package Options.

Examples of Benefit Package Option in a sentence

• If coverage is “significantly curtailed” (as defined below), Participants may elect coverage under another Benefit Package Option that provides similar coverage.

• The Plan Administrator, in its sole discretion and on a uniform and consistent basis, will decide whether there has been an addition of, or a significant improvement in, a Benefit Package Option in accordance with prevailing IRS guidance.

• Coverage under a Benefit Package Option is deemed “significantly curtailed” only if there is an overall reduction in coverage so as to constitute reduced coverage to Participants generally.

• The Employer, in its sole discretion and on a uniform and consistent basis, will decide whether there has been an addition of, or a significant improvement in, a Benefit Package Option in accordance with prevailing IRS guidance.

• If coverage is significantly curtailed (as defined below), Participants may elect coverage under another Benefit Package Option that provides similar coverage.

More Definitions of Benefit Package Option

Benefit Package Option means a qualified Benefit under Section 125(f) of the Code that is offer under the Plan, or an option for coverage under an underlying accident or health plan.

Benefit Package Option means a qualified benefit under Code Section 125 (f) that is offered under the Cafeteria (Flexible) Benefits Plan, or an option for coverage under an underlying health plan (such as an HMO or PPO option under a health plan).

Benefit Package Option means the various insurance coverages that your Employer offers you that can be paid for with pre-tax dollars under this Plan. Group Medical Plan Group Dental Plan Group Vision PlanHospital Indemnity CoverageDread Disease and Catastrophic Illness Coverage Cancer Coverage

Benefit Package Option means a Qualified Benefit offered under the ARCap Program.

Benefit Package Option means each specific benefit paid for under the Plan as the result of a Participant’s election (e.g., as to Insurance Coverage, a health maintenance organization, indemnity, or preferred provider organization, or as to Dependent Care Expenses, the specific dependent care program or provider selected by the Participant).

Benefit Package Option means an Eligible Benefit or Benefit as defined in Section 2.9 above or an option for coverage under an underlying accident or health plan (for example, an indemnity, HMO, or PPO option under an accident or health plan).

Benefit Package Option means the various insurance coverages that your Employer offers you that can be paid for with pre-tax dollars under this Plan.Group Medical Insurance Group Dental Insurance Group Vision Insurance