Cadillac Plan Excise Tax definition

Cadillac Plan Excise Tax means a tax provided for under the Affordable Care Act (ACA) or any subsequently-enacted federal statute or any subsequently-promulgated federal regulation, and which imposes a tax on employer-provided health coverage in excess of costs above certain thresholds, which are currently provided for in Section 4980I of the Internal Revenue Code, and are currently set at $10,200 for single coverage and $27,500 for coverage other than single coverage.
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Examples of Cadillac Plan Excise Tax in a sentence

  • If an agreement cannot be reached by March 1, 2019, the Board reserves the right to modify the insurance plans in a reasonable manner only to the extent necessary to avoid penalty fees arising under the Cadillac Plan Excise Tax as defined below.

  • However, recommendations of the committee for plan changes to avoid the Cadillac Plan Excise Tax will be implemented to the fullest extent permitted by the Board’s insurance provider and applicable law, including the Affordable Care Act.

  • If the District is projected to become subject to a tax or penalty in the nature of a Cadillac Plan Excise Tax (either directly for self-insured coverage or indirectly through an insurer for fully-insured coverage) under the Affordable Care Act for any calendar year, the Insurance Committee provided for in 6.6 will be convened to consider ways to avoid this tax.

  • If the BOARD becomes subject to a tax or a penalty in the nature of a Cadillac Plan Excise Tax (“the Tax”) due to a choice of health insurance plans, either directly for self-insured coverage or indirectly through an insurer for fully-insured coverage, under the Affordable Care Act for any calendar year during the term of this Agreement, the BOARD shall notify the ASSOCIATION.

  • If an agreement cannot be reached by March 1, 2021, the Board reserves the right to modify the insurance plans in a reasonable manner only to the extent necessary to avoid penalty fees arising under the Cadillac Plan Excise Tax as defined below.

  • For those TEACHERS with dependent care medical insurance coverage in the preferred HSA plan, the BOARD shall contribute to an HRA account an amount equal to the maximum amount allowable without subjecting the District to a Cadillac Plan Excise Tax, but that amount shall not exceed $2,200.

Related to Cadillac Plan Excise Tax

  • CAISO Penalties means any fees, liabilities, assessments, or similar charges assessed by the CAISO for (a) violation of the CAISO Tariff and all applicable protocols, WECC rules or CAISO operating instructions or orders or (b) as a result of Seller’s failure to follow Prudent Electrical Practices. “CAISO Penalties” do not include the costs and charges related to Scheduling and imbalances as addressed in Section 14.1 of this Agreement.

  • Settlement Administration Costs means all costs and fees of the Settlement Administrator regarding Notice and Settlement administration.

  • Societal benefits charge means a charge imposed by an electric

  • Settlement Administration Expenses means the Settlement Administrator’s fee, and the expenses incurred by the Settlement Administrator in providing Notice, processing exclusions and objections, responding to inquiries from members of the Settlement Class, mailing Settlement checks, and related services, paying taxes and tax expenses related to the Settlement Fund (including all federal, state or local taxes of any kind and interest or penalties thereon, as well as expenses incurred in connection with determining the amount of and paying any taxes owed and expenses related to any tax attorneys and accountants).

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Excise Tax means any excise tax imposed under section 4999 of the Code.

  • Allowable emissions means the emission rate of a stationary source calculated using both the maximum rated capacity of the source, unless the source is subject to federally enforceable limits which restrict the operating rate or hours of operation, and the most stringent of the following:

  • Basic health plan services means that schedule of covered

  • PAGA Penalties means the total amount of PAGA civil penalties to be paid from the Gross Settlement Amount, allocated seventy-five percent (75%) to the LWDA and the twenty-five percent (25%) to the Aggrieved Employees in settlement of PAGA claims.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Non-Administrator Dialysis Facility means a Dialysis Facility which does not have an agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan but has been certified in accordance with the guidelines established by Medicare.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • High Deductible Health Plan means a Health Plan as defined by 26 USC § 223(c)(2)(A) that also is a Qualified Health Plan.

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Swiss Federal Tax Administration means the tax authorities referred to in article 34 of the Swiss Withholding Tax Act.

  • Certified Plan means all the terms and benefits (including any Supplement(s)) that form an insurance plan certified by the Government to be compliant with the requirements of the VHIS. This Certified Plan comprises these Terms and Conditions and the Benefit Schedule and the followings –

  • Annual Special Tax means the Special Tax actually levied in any Fiscal Year on any Assessor’s Parcel.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Excise Taxes see Section 5.1.

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Final compensation of a member means:

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).