Health Benefit Continuation definition

Health Benefit Continuation means subsidy by the Company of the portion of the Participant’s COBRA premium that exceeds the amount of the premium paid by active employees for the same coverage for the period following the Participant’s termination of employment with the Company designated in Section 5. The Company will include the subsidy in the Participant’s taxable income and no gross-up will be provided.
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Health Benefit Continuation means payment by the Company of the premium for COBRA coverage, if elected by the Participant and his/her eligible dependents, upon loss of coverage under the Company’s group health plan for active employees of the Company due to termination of employment, until the earlier of (i) the end of the Severance Payment Period, (ii) the date that the Participant becomes eligible for coverage under another group health plan, or (iii) the end of the eighteen (18)-month maximum COBRA coverage period.
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Health Benefit Continuation. The Company will pay the COBRA premiums for continuation of healthcare benefits for you and your eligible dependents for so long as you are otherwise eligible for such coverage during the 12-month period following a Qualifying Termination. You will be responsible for all other costs, such as co-payments and deductibles.
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Examples of Health Benefit Continuation in a sentence

  • If, pursuant to this Section, Payments are to be reduced, Payments will be reduced in this order: (1) Cash Severance, (2) Health Benefit Continuation, and (3) equity acceleration (to the extent applicable).

  • Payment of Cash Severance and Health Benefit Continuation is subject to and contingent on the Participant’s satisfaction of the requirements of Section 6(a) (regarding waiver and release of claims) and Section 6(b) (regarding restrictive covenants).

  • If a Participant’s employment with the Company is terminated after the Effective Date and before a Change in Control either (i) by the Company for reasons other than Cause, death, or Disability, or (ii) by the Participant for Good Reason, then the Participant shall receive: (x) payment of the Accrued Obligations, (y) the Cash Severance benefit described in this Section 5(a) based on the Participant’s title, and (z) Health Benefit Continuation described in this Section 5(a) based on the Participant’s title.

  • Statute of Frauds Amendment Act 1828 (Chapter 14) The whole Act, other than section 9, which shall be omitted.

  • Consultant will not be eligible for any of the employee benefits available to active employees but the "Health Benefit Continuation" pursuant to Section 5(c) of the WellCare Severance Plan remains in effect and is not affected in any way by this consulting agreement.

  • Iomega will also pay the equivalent to the cost of COBRA (grossed up so that taxes are not deducted) for the period from the Termination Date through the one-year anniversary of the Resignation Date, based on Employee’s current health insurance benefits (“Health Benefit Continuation”); such Health Benefit Continuation shall cease upon the earlier of one-year from the Resignation Date, and Employee commencing a new employment relationship outside of Iomega Corporation.

  • You can reach the NICB at 800-835-6422 (callers do not have to disclose their names when reporting fraud to the NICB). The Office of the Insurance Commissioner (OIC) at 360-725-7263 or go to www.insurance.wa.gov for more information.Consolidated Omnibus Budget Reconciliation Act (COBRA)Federal Health Benefit Continuation Provision Applicable to the Theatrical and Stage Employees Health and Welfare Trust – Local 15 group health care plan.


More Definitions of Health Benefit Continuation

Health Benefit Continuation. Compaq will pay the COBRA premiums for continuation of healthcare benefits for you and your eligible dependents during the Separation Pay Period. You will be responsible for all other costs, such as co-payments and deductibles.
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Related to Health Benefit Continuation

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Continuation Coverage means the temporary continuation of PEBB benefits available to enrollees under the Consolidated Omnibus Budget Reconciliation Act (COBRA), 42 U.S.C. Secs. 300bb-1 through 300bb-8, the Uniformed Services Employment and Reemployment Rights Act (USERRA), 38 U.S.C. Secs. 4301 through 4335, or the public employees benefits board's policies.

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Dental means of or relating to the teeth and the work of a dentist.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).