COBRA Premiums for any given period means the amount, if any, Executive pays (or is obligated to pay) for continuation of health insurance coverage under the group health plan of the Company pursuant to his rights provided by the Consolidated Omnibus Budget Reconciliation Act.
COBRA Premiums has the meaning set forth in Section 6.5(a).
COBRA Premiums means the amount of the premiums due for Executive and Executive’s covered dependents (as defined under COBRA) under any so-called COBRA continuation coverage under any of the Company’s group health insurance programs in which Executive is eligible and elects to be covered thereunder. The Company shall make such COBRA Premiums payments within thirty (30) days of the Executive’s furnishing such documentation concerning coverage under such contract or premium amounts as the Company reasonably requires.
Examples of COBRA Premiums in a sentence
For the avoidance of doubt, the taxable payments in lieu of COBRA Premiums may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.
The Health Care Benefit Payment shall be paid in monthly installments on the same schedule that the COBRA Premiums would otherwise have been paid to the insurer.
Loss of other coverage due to an individual’s failure to pay Premiums (including COBRA Premiums) on a timely basis, or termination of coverage for cause (fraud or intentional misrepresentation of material fact) will not trigger a special enrollment period.
The Health Care Benefit Payment shall be equal to the amount that the Company would have otherwise paid for COBRA 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 CIC COBRA Period or the Severance COBRA Period, as applicable.
The Health Care Benefit Payment shall be paid in monthly installments on the same schedule and over the same time period that the COBRA Premiums would otherwise have been paid on behalf of the Executive.
More Definitions of COBRA Premiums
COBRA Premiums means a taxable one-time lump sum cash payment equivalent to the Eligible Executive’s elected health coverage monthly premiums at the time of termination multiplied by the specified number of months. Does not include the COBRA administrative fee.
COBRA Premiums for purposes of this Agreement are the COBRA premiums that Executive would have to pay to continue for a certain period of time, the medical, dental, and/or vision coverage that Executive had immediately prior to terminating employment. Executive’s existing coverage under Sun’s group health plan (and, if applicable, the existing group health coverage for Executive’s enrolled eligible dependents) will end on the date on which Executive’s employment terminates. Executive and his eligible dependents may then be eligible to elect temporary continuation coverage under Sun’s group health plan in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). Upon the conclusion of any Sun-paid coverage, Executive (and, if applicable, Executive’s eligible dependents) may continue COBRA coverage at Executive’s own expense in accordance with COBRA. No provision of the Agreement will affect the continuation coverage rules under COBRA. Therefore, the period during which Executive must elect to continue Sun’s group health plan coverage under COBRA, the length of time during which COBRA coverage will be made available to Executive, and all other rights and obligations under COBRA will be applied in the same manner that such rules would apply in the absence of the Agreement.
COBRA Premiums means the premium cost for COBRA Coverage provided pursuant to the Employee Orders (as defined in the Plan) for PCMC employees terminated on or prior to the SSA Termination Date.
COBRA Premiums. The Company will also pay the COBRA premiums for you and, if applicable, your dependents, for your continued group health coverage to the appropriate health insurer, for up to twelve (12) months after your Separation Date, provided you elect COBRA coverage. However, the Company will discontinue any such payment of COBRA premiums upon the earlier of (i) the date when you become eligible for substantially equivalent health insurance in connection with new employment, or (ii) the expiration of your continuation coverage under COBRA. You agree to immediately notify the Company in the event of (i) above.
COBRA Premiums means applicable insurance premiums for continuation coverage under any Plan pursuant to Section 4980B(f) of the Code.
COBRA Premiums means, to the extent permissible under the Company’s group health plan, continuation, during the Severance Period (or if earlier, until the date that Executive becomes eligible to receive any health benefits as a result of subsequent employment or service during the Severance Period), of health benefits provided to Executive and Executive’s dependents immediately prior to such termination, at the same cost applicable to active employees of the Company. Notwithstanding the foregoing, if the Company’s obligations for payment of COBRA Premiums would result in the imposition of excise taxes on the Company for failure to comply with the nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and the Health Care and Education Reconciliation Act of 2010, as amended (to the extent applicable) or to the extent such continuation is not permissible under the Company’s group health plan, the Company shall discontinue the COBRA Premium payments and shall instead pay to Executive a lump-sum payment equal to the employer portion of premium costs of health benefits (calculated based on the premiums for the first month of such benefits following the date of Executive’s termination) provided to Executive and Executive’s dependents for the remainder of the Severance Period no later than thirty (30) days after such determination by the Company.