Cost of Coverage definition

Cost of Coverage means the amount equal to 100% of the “applicable premium” as defined under Section 4980B(f)(4) of the Code. For purposes of this Agreement, the “Payment Date” means within thirty (30) days immediately following the expiration of the applicable revocation period following the execution of the Release; provided that payment shall be made no later than 2 1/2 months following the end of the calendar year in which the termination occurs; provided, however, that in the event a payment is administratively impracticable to make by the end of the 2 1/2 month period, then such payment shall be made as soon as administratively practicable in accordance with Section 409A of the Code and the regulations thereunder (collectively, “Section 409A”).
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Cost of Coverage means the amount equal to 100% of the “applicable premium” as defined under Section 4980B(f)(4) of the Code. For purposes of this Agreement, the “Payment Date” means within thirty (30) days immediately following the expiration of the applicable revocation period following the execution of the Release (except as otherwise provided in paragraph 4(d) above); provided, that payment shall be made no later than 2 ½ months following the end of the calendar year in which the Termination occurs; provided, however, that in the event a payment is administratively impracticable to make by the end of the 2 ½ month period, then such payment shall be made as soon as administratively practicable in accordance with Section 409A of the Code.
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Cost of Coverage shall be defined as the invoice dollar amount from the primary carrier for medical coverage for the individual employee and/or his family if family coverage is provided.
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Examples of Cost of Coverage in a sentence

  • Clothes washer and dryer,must be checked in the Cost of Coverage Section and additional fee paid for coverage at closing/transfer of title.

  • Employee Cost of Coverage (monthly): PPO 1000 FY 20-22 PPO 1500 FY 20-22 HSA FY 20-22 Employee Only $20.00 $0.00 $0.00 Employee/Spouse $191.00 $151.00 $116.00 Employee/Child $116.00 $76.00 $41.00 Employee/Children $206.00 $166.00 $131.00 Employee/Family $297.00 $257.00 $222.00 Note: Members with at least one tobacco user add $30 more in monthly premium Employee premiums are deducted from 24 pays.

  • Company agrees to pay for the cost of Continuation Benefits (the "Cost of Coverage"), and Executive agrees and understands that the amount of the Cost of Coverage will be considered taxable income to Executive for each year (or partial year) of such coverage and satisfaction of any associated tax obligations is Executive's sole responsibility.

  • Policyholder shall provide HCSC with written notice prior to renewal (and during the plan year, at least sixty (60) days advance written notice) of any changes in its Contribution Rate Based on Cost of Coverage or Contribution Rate Based on a Formula towards the cost of any tier of coverage for any class of Similarly Situated Individuals as such terms are described in applicable regulations.

  • The Cost for Employees electing coverage will be as follows for both the employee and dependents through payroll deduction: HMO 5% of the Cost of Coverage PPO 20% of the Cost of Coverage PPO + HSA 20% of the Cost of Coverage In addition, for those employees electing HSA coverage, the Village will make contributions to the employees’ health savings accounts as follows: $1500 for single coverage, $3000 for dependent coverage.

  • Employee Cost of Coverage (monthly): PPO 1000 FY 17 - 19 PPO 1500 FY 17 - 19 HSA FY 17 - 19 Employee premiums are deducted from 24 pays.

  • Cost of Coverage -- Dental Plan For calendar years 2007, 2008 and 2009, the City will contribute an amount up to $13.00 per month for single enrollment and an amount up to $37.50 per month for family enrollment towards meeting the subscriber cost of the dental plan.


More Definitions of Cost of Coverage

Cost of Coverage. $110 Per Event Please note: Fees are subject to change on July 1 of each year. Previously scheduled events will be billed for amount of increase.
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