Example ContractsClausesHealth Continuation Coverage
Health Continuation Coverage
Health Continuation Coverage contract clause examples

Provided that Executive is eligible and has made the necessary elections for continuation coverage pursuant to COBRA under a health, dental, or vision plan sponsored by the Company, the Company shall pay the applicable premiums (inclusive of premiums for Executive’s dependents for such health, dental, or vision plan coverage as in effect immediately prior to the date of the Covered Termination) for such continued health, dental, or vision plan coverage following the date of the Covered Termination for up to twelve (12) months (such period, the “COBRA Payment Period”) but in no event after such time as Executive and Executive’s dependents are no longer eligible for COBRA coverage. Such coverage shall be counted as coverage pursuant to COBRA. If Executive and Executive’s dependents continue coverage pursuant to COBRA following the conclusion of the period that the Company makes premium payments hereunder, Executive will be responsible for the entire payment of such premiums required under COBRA for the remainder of the applicable COBRA period.

Provided that Executive is eligible and has made the necessary elections for continuation coverage pursuant to COBRA under a health, dental, or vision plan sponsored by the Company, the Company shall pay the applicable premiums

Continuation of Health Care Coverage. The Executive (and his eligible dependents) shall be entitled to continued participation in the Bank’s or the Company’s medical, dental and vision plans, as in effect from time to time, at then-existing participation and coverage levels, for twelve (12) months immediately following Executive’s Qualifying Termination. For the avoidance of doubt, the Participant (and his eligible dependents) shall be responsible for paying all deductibles and other cost sharing items under such plans but shall not be responsible for the payment of premiums. If and to the extent that any benefit described in this paragraph # is not or cannot be paid or provided under a Bank or Company plan or arrangement, then the Bank will pay or provide for the payments to Executive of such employee benefits. Nothing in this paragraph # shall be construed to impair or reduce Executive's rights under Consolidated Omnibus Reconciliation Act “COBRA” or other applicable law.

The Employer shall provide you (and your dependents, if applicable), until the last day of the calendar month in which the Benefits Continuation Period ends, continued medical, dental and vision coverage under the Employer’s health plans through COBRA at the active employee rate, provided that you elect COBRA coverage; provided, however, such subsidized coverage may be provided to you on an after-tax basis (i.e., the Employer contributions to your coverage may be taxable to you). Following the Benefits Continuation Period any COBRA continuation coverage will be at the full COBRA rate for any period remaining under COBRA. Notwithstanding the foregoing, the Employer reserves the right to restructure the foregoing continued coverage arrangement in any manner as determined by the Employer in its sole and absolute discretion, which shall include a reimbursement arrangement [[Address A:Address]] a lump sum payment equal to the value of the benefits you would otherwise have received. The COBRA health care continuation coverage period under Section 4980B of the Code shall run concurrently with continued health coverage pursuant to this Section IV.F. (Health Coverage).

Continuation Coverage. After the Closing Date, the Seller shall maintain a group health plan and provide COBRA continuation coverage to all “M&A qualified beneficiaries,” if any, as the term is defined by Treas. Reg. § 54.4980B-9, who are receiving COBRA continuation coverage from the Seller as of immediately prior to the Closing Date. The Seller shall maintain a group health plan for at least the maximum period that COBRA continuation coverage must be available to such M&A qualified beneficiaries.

elect health care coverage under COBRA, or under any applicable state law concerning continuation of health coverage, unless she/he is ineligible for such coverage;

To continue your health, dental and vision coverage after the Separation Date, you must be eligible for and elect COBRA continuation coverage. If you elect COBRA continuation coverage and provided that you and your beneficiaries remain eligible for COBRA continuation coverage, the Company shall continue to pay for health, dental and vision premiums for coverage of you and your beneficiaries to the same extent as if you had remained employed through the earlier of # the end of the Salary Continuation Period; or # the date you become employed or otherwise ineligible for COBRA (as applicable, the “Health Benefits Continuation Period”).

continued health insurance coverage for the Severance Period following Executive’s last day of employment, if Executive elects to continue health insurance coverage under Company’s group health insurance plans pursuant to the federal health care continuation law commonly known as COBRA (“COBRA Coverage”); and

COBRA Health Insurance Coverage. Notwithstanding any provision of this Agreement to the contrary, nothing in this Agreement shall be interpreted to require Bank to extend COBRA health insurance coverage benefits to Executive in violation of applicable law. In the event that, following termination of Executive’s employment with Bank, Executive shall be entitled to receive extended insurance benefits pursuant to the terms of this Agreement, Executive shall be required to elect COBRA health insurance coverage and, thereafter, Bank shall provide such coverage to Executive through a COBRA subsidy; provided, however, that at such time as Bank is no longer permitted to extend COBRA health insurance coverage benefits to Executive under applicable law, Bank shall provide a cash payment to Executive in lieu of such subsidy (with each cash payment being equal to the amount of the last COBRA subsidy provided to Executive prior to Executive’s termination pursuant to the terms hereof) , and Executive shall elect and obtain his own health insurance coverage.

Post-Employment Health Coverage. During the portion, if any, of the 18-month period following the Termination Date that Executive elects (or, in the case of Executive’s death or Disability, Executive’s spouse or Executive’s eligible dependents timely elect) to continue coverage in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will promptly reimburse Executive, Executive’s spouse or Executive’s eligible dependents, as applicable, on a monthly basis for the amount paid to effect and continue such coverage (the “COBRA Reimbursement Amounts”); provided, however, that payment of the COBRA Reimbursement Amounts will cease immediately upon the date that Executive begins providing services to a subsequent employer (and any such provision of services shall be promptly reported to the Company by Executive); and provided, further, that the election of COBRA continuation coverage and the payment of any premiums due with respect to such COBRA continuation coverage shall remain the sole responsibility of Executive or Executive’s spouse or eligible dependents, as applicable, and the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage. Nothing contained herein is intended to limit or otherwise restrict any rights to continued group health plan coverage pursuant to COBRA following the period described in the preceding sentence.

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