Similar Coverage definition

Similar Coverage means coverage for the same category of benefits for the same individuals (e.g. family to family or single to single). For example, two plans that provide coverage for major medical care are considered Similar Coverage. Similar Coverage may be offered by a qualified plan of the Participant’s Spouse’s or other Dependent’s employer. The Administrator, in its sole discretion, will determine whether coverage is “similar” based on all the facts and circumstances.
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Similar Coverage means coverage for the same category of benefits for the same individuals. Plans offering comprehensive medical insurance coverage (e.g., HMO, POS, PPO) are considered similar coverage, but a Health Care FSA is not similar coverage to any health plan that is not a Health Care FSA and family coverage is not similar to employee-only.
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Similar Coverage means coverage under the same type of Benefit Option for the same individuals.
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Examples of Similar Coverage in a sentence

  • In the event the Executive or his Spouse is ineligible under the terms of the Bank's health, dental, and vision plans to continue to be so covered or if such plans shall have been modified to reduce the coverage so that it is no longer Similar Coverage, the Bank shall provide, through other sources, coverage for health, dental and vision expenses at Similar Coverage levels.

  • The Executive and his Spouse are responsible to timely reimburse the Bank 17% of the cost of the Similar Coverage provided under this Section and are also responsible to timely submit any insurance application documentation, claim documentation or any other information required by the Bank or any third party in connection with the benefit provided pursuant to this Section.

  • Such Similar Coverage shall be subject to the payment by the Executive or by his Spouse, as the case may be, of his or her portion of the cost of such coverage in the same proportion as in effect on November 17, 2005, which was 17% of such cost.

  • Such Similar Coverage shall be subject to the payment by the Executive or his Spouse, as the case may be, of his or her portion of the cost of such coverage, in the same proportion as was in effect on November 17, 2005, which was 17% of such cost.

  • Similar Coverage 127 Section 10.10 .................................


More Definitions of Similar Coverage

Similar Coverage means coverage for the same category of benefits for the same individuals (e.g., family to family or single to single). Plans offering medical insurance coverage (e.g., HMO, PPO) are considered similar coverage, but a Health Care FSA is not similar coverage to any health plan that is not a Health Care FSA. The Plan may treat coverage by another employer, such as a Spouse’s or Dependent’s employer, as similar coverage.
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Similar Coverage means two or more health benefit plans
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Similar Coverage means two or more health benefit plans whose differences in plan or benefit structure cause no major differences in the rate schedules associated with the benefit plans. Carriers may define two or more coverage plans as being dissimilar and separate coverage if the structure of the benefits, payment methods, or other aspect of the coverage plans results in actuarial rate differences of more than fifteen percent, as filed by the carrier with the commissioner. A fully insured association plan in existence on July 1, 1992, and meeting the requirements of this chapter as of July 1, 1993, may be considered dissimilar and separate coverage.
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Similar Coverage means coverage for the same category of benefits for the same individuals (e.g., family to family or single to single). For example, two plans that provide major medical coverage provide Similar Coverage. A health flexible spending arrangement is not Similar Coverage with respect to an accident or health plan that is not a health flexible spending arrangement. Coverage provided by another employer, such as a spouse’s or Dependent’s employer, may be treated as providing Similar Coverage if it satisfies the requirements of this section.
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Similar Coverage means coverage underfor the same typecategory of Benefit Optionbenefits for the same individuals.
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Similar Coverage means coverage for the same category of benefits for the same individuals (e.g., family to family or single to single). For example, two plans that provide major medical coverage are considered to be similar coverage. For purposes of this definition, a medical care spending account (MSA) is not similar coverage with respect to a health plan that is not an MSA; an HMO and PPO are considered to be similar coverage; and coverage by another employer, such as a spouse’s or dependent’s employer, is treated as similar coverage.
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Similar Coverage means coverage for health, dental and vision care expenses at substantially the same level as was in effect on November 17, 2005, as it applied to the Executive and his Spouse, to the extent Similar Coverage is commercially available for purchase, including: the types of covered expenses; the amount of the deductible payable by the Executive or his Spouses; the amounts of the co-pays payable by the Executive or his Spouse; and the percentage of the premium or cost to the Bank of the coverage, which shall be 17% the responsibility of the Executive or his Spouse.
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