Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.
Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.
Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Partnership, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost (including any applicable administrative fee) to the Employee as if the Employee elected COBRA continuation coverage at the level of coverage in effect at such time for the Employee and the Employee’s dependents at their own expense.
Examples of Medical Benefits in a sentence
It gives definitions of terms and explains the rules you will need to follow to get the medical treatments, services, and other medical care that are covered by the plan.For the details on what medical care is covered by our plan and how much you pay when you get this care, use the benefits chart in the next chapter, Chapter 4 (Medical Benefits Chart, what is covered and what you pay).
For the details on what medical care is covered by our plan and how much you pay when you get this care, use the benefits chart in the next chapter, Chapter 4 (Medical Benefits Chart, what is covered and what you pay).
For more information, see the Medical Benefits Chart in Chapter 4 of this booklet.
It includes a Medical Benefits Chart that lists your covered services and shows how much you will pay for each covered service as a member of our plan.
In this instance providers should indicate the appropriate other insurance indicator or complete the Explanation of Medical Benefits form, as applicable.
More Definitions of Medical Benefits
Medical Benefits means that the Company shall pay the cost to Executive, as such costs become due, for continuing medical and dental coverage under COBRA or other applicable statutes from the date of termination through the earlier of: (A) Executive becomes employed by another employer; or (B) twelve (12) months after the date of such termination.
Medical Benefits means, for two years after your termination of employment (the “Benefit Continuation Period”), the Company shall provide health care and life insurance benefits to you and/or your family substantially similar to, and at the same after-tax cost to you and/or your family, as those that would have been provided to them in accordance with the plans, programs, practices and policies providing health care and life insurance benefits and at the benefit level provided to you immediately prior to the Change in Control or, if more favorable to you, as in effect generally at any time thereafter with respect to other peer executives of the Company and their families; provided, however, that, the health care benefits provided during the Benefit Continuation Period shall be provided in such a manner that such benefits (and the costs and premiums thereof) are excluded from your income for federal income tax purposes and, if the Company reasonably determines that providing continued coverage under one or more of its health care benefit plans contemplated herein could be taxable to you, the Company shall provide such benefits at the level required hereby through the purchase of individual insurance coverage; provided, however, that if you become re-employed with another employer and are eligible to receive health care and life insurance benefits under another employer-provided plan, the health care and life benefits provided hereunder shall be secondary to those provided under such other plan during such applicable period of eligibility. Following the end of the Benefit Continuation Period, you will be eligible for continued health coverage as required by Section 4980B of the Code or other applicable law (“COBRA Coverage”), as if your employment with the Company had terminated as of the end of such period, and the Company shall take such actions as are necessary to cause such COBRA Coverage not to be offset by the provision of benefits under this paragraph and to cause the period of COBRA Coverage to commence at the end of the Benefit Continuation Period.
Medical Benefits means the reimbursement for continued medical coverage for Executive and Executive's dependents described in Section 5(d) hereof.
Medical Benefits means the medical, dental, health, hospital, disability and vision benefits provided under any and all benefit policies, plans, programs or arrangements of the Company that may now exist or any successor policies, plans, programs or arrangements that may be adopted hereafter by the Company in which the Executive is entitled to participate or in which the Executive becomes entitled to participate.
3. Section 4(a)(i) is hereby amended to read as follows:
(i) pay to the Executive, within five (5) business days after the Termination Date, a lump sum payment in an amount equal to $15,899,901 as satisfaction in full for Executive's severance pay and loss of certain perquisites and benefits that would otherwise have been enjoyed by the Executive and for the execution of the Executive's non-competition covenant in Section 10 hereof. The parties agree that twenty-five (25) percent of the lump sum payment shall be allocable to, and deemed as consideration for, the Executive's non-competition covenant in Section 10 hereof.
4. Section 4(a)(ii) is hereby amended in its entirety to read as follows:
Medical Benefits means that Company shall pay the gross cost to Executive, on and as of the date of separation of employment, equal to the costs for continuing medical and dental coverage under COBRA through twelve months after the date of such termination.
Medical Benefits means the right of an Executive to elect to continue to participate in any medical plan (including dental or vision but not including any flexible spending account) in which he or she was participating at the time of termination upon timely payment of the same premiums that would be charged to a similarly situated active employee for the period of time specified in Section. Medical Benefits shall be considered continuation coverage as defined in §4980B of the Internal Revenue Code (“COBRA”), and shall be subject to all of the requirements and limitations applicable to COBRA coverage except for amount of premium charged. Eligible dependents of the Executive may continue to be covered under Medical Benefits, but if any dependent independently elects COBRA coverage, either because the Executive does not elect coverage, or because of the occurrence of an separate qualifying event, such dependent shall be required to pay the full premium otherwise charged under COBRA
Medical Benefits means and includes allowances for all reasonable expenses, up to a limit of not less than $4,500, for necessary health care rendered by practitioners licensed by the state board of healing arts to practice any branch of the healing arts or licensed psychologists, surgical, x-ray and dental services, including prosthetic devices and necessary ambulance, hospital and nursing services; and such term also includes allowances for services recognized and permitted under the laws of this state for an injured person who relies upon spiritual means through prayer alone for healing in accordance with such person's religious beliefs.