Benefit Payment definition

Benefit Payment means a payment issued by the Contract Administrator to a provider or Participant based on the Maximum Allowable Fee Schedule for an in-network service or supply. The Maximum Allowable Fee Schedule is a payment system that reimburses up to a specified dollar amount for services rendered. Payment will never exceed the Maximum Allowable Charge.

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Benefit Payment. The long-term disability benefit payment is 66 2/3 percent of the employee’s base weekly wages calculated on average earnings in the previous six months. The benefit may be paid for the period of disability or until age 65, whichever is sooner. Payments are made once a month. The benefit is taxable income and does not count as hours worked. • Return to work: The employee must return to work when permitted by his or her health care provider. The employee must submit a fitness-to-return-to-duty clearance to the Director of Human Resources.

Benefit Payment means the payment of a benefit determined in terms of the registered Rules of the Fund, which includes a retirement, retrenchment, resignation and death benefit in respect of a Member, or divorce award payment to a non-member spouse. "Benefit Payments" shall have a corresponding meaning.

Examples of Benefit Payment in a sentence

• The Health Care Benefit Payment shall be paid in monthly or bi-weekly installments on the same schedule that the COBRA premiums would otherwise have been paid to the insurer.

• For the avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated tax payments, including, without limitation, federal estimated income tax payments.

• The Health Care Benefit Payment shall be equal to the amount that the Company otherwise would have paid for COBRA insurance premiums (which amount shall be calculated based on the premium for the first month of coverage), and shall be paid until the expiration of the COBRA Payment Period.

• For the avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated tax payments, including, without limitation, federal income tax payments.

• Each such Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank account previously designated by such TRA Party to the Corporate Taxpayer or as otherwise agreed by the Corporate Taxpayer and such TRA Party.

More Definitions of Benefit Payment

Benefit Payment. The Annuity Benefit or Death Benefit payable under a settlement option. Variable Dollar Benefit payments may vary in amount. Fixed Dollar Benefit payments remain constant except under certain joint and survivor settlement options.

Benefit Payment. The short-term disability benefit payment is 66 2/3 percent of the employee’s base weekly wages calculated on average earnings in the previous year. The benefit may be paid for a maximum of 12 weeks per calendar year. Payments are made once a week. The benefit is taxable income. • Return to work: The employee must return to work as soon as permitted by his or her health care provider. The employee must submit a fitness-to-return-to-duty clearance to the Human Resources Director. An employee whose absence has been designated as FMLA (Family and Medical Leave Act) leave is eligible for reinstatement as provided by the FMLA.

Benefit Payment means the amount designated as “Estimated Pension” in the working capital statement delivered by Seller, and payable to certain past or current employees of the Company (and included as a current liability of the Company as of the Closing Date) to be paid in 2020.

Benefit Payment means the amount equal to the excess of the monthly COBRA premium charged by the Company to terminated employees, as in effect at the Effective Date of Termination, over the monthly premium for such benefits charged to active employees, applicable to the medical, dental and/or vision benefits for which Participant (and his or her eligible dependents) was enrolled at the Effective Date of Termination.

Benefit Payment or “cash benefit” means a monetary amount which that the Department pays to an assistance unit for a particular benefit month.

Benefit Payment. The benefit accrued by an employee shall not be payable until retirement at the earlier of: (1) Rule of 90 (sum of age and eligibility service must equal 90); (2) Age 65 with 10 years of eligibility service; or (3) Age 60 with 15 years eligibility service.

Benefit Payment means the Paypal payment, negotiable check or other payment instrument to be sent to the members of the Settlement Class pursuant to the provisions of this Agreement.