Examples of Seller Health Plan in a sentence
Buyer shall use commercially reasonable efforts to credit the Seller Health Plan Participants with payment of any deductibles and payments toward out-of-pocket limits made under Parent’s, Queensgate’s or Beverage’s, as applicable, group health care plan for the plan year in which the Closing occurs, but only to the extent Parent, Queensgate or Beverage, as applicable, or the Employee provides Buyer with reasonable evidence of any such payments and only to the extent permitted by any applicable insurer.
In addition, with respect to Continuing Employees, Buyer shall cause such health care plan to credit all employee payments toward deductible and co-payment obligations limits under the Seller Health Plan for the plan year that includes the Closing Date as if such payments had been made for similar purposes under such health care plan during the plan year that includes the Closing Date.
Purchaser shall provide COBRA continuation coverage to employees, former employees and other qualified beneficiaries (as such term is defined under COBRA) of Seller as well as to the Continuing Employees under the Seller Health Plan and, in the event that the Seller Health Plan is terminated by Purchaser or by Pacificare, Purchaser shall provide COBRA coverage under Purchaser’s group health plan in accordance with COBRA.
In addition, with respect to Continuing Employees, Buyer shall cause its health care plan to credit all employee payments toward deductible and co-payment obligations limits under the Seller Health Plan for the plan year that includes the Closing Date as if such payments had been made for similar purposes under Buyer’s health care plan during the plan year that includes the Closing Date.
Notwithstanding subsection (a), within 14 days after the Closing Date, Seller shall offer each Affected Employee (whether or not hired by Buyer) and his dependents continuation coverage under Section 4980B of the Code for his and/or his dependents' coverage or benefits under Seller's self-insured group health plan (the "Seller Health Plan") or the Seller's flexible spending account plan providing medical reimbursement benefits (the "Seller Medical FSA Plan").