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Insurance Premiums
Insurance Premiums contract clause examples

COBRA Premiums. If you (and any of your eligible dependents) are participating in the Company’s medical, dental, vision and prescription drug plans as of the date of termination and you timely elect COBRA coverage under such plans, the Company shall reimburse you for the full amount of such COBRA premiums (on a monthly basis) for a period of up to eighteen (18) months following the January 3, 2018

if Employee timely elects such continued coverage under COBRA (as defined in the Severance Plan), reimbursement from the Company for the employer-portion of Employee’s medical, vision, prescription and/or dental coverage for continued coverage under COBRA for 18 months following the Termination Date, and then, starting in the nineteenth (19th) month after the Termination Date and continuing for up to six (6) months, pay to the Employee in cash for each month an amount equal to # the documented cost of the Employee’s medical, vision, prescription and/or dental coverage, as applicable, (to the extent such coverage is comparable to the Company’s coverage) for the month, minus # the amount Employee would have been required to pay for medical, vision, prescription and/or dental coverage, as applicable, under the Company’s plans if he was an active employee for such month; provided that such reimbursements or payments under this Section 4(iv) will cease as of the date on which Employee becomes eligible for medical, vision, prescription and/or dental coverage from another employer;

if you elect to continue your current medical, dental and vision insurance coverage under the law known as COBRA, the Company will pay for such coverage through the earlier of # twelve (12) months after the Termination Date, # the date upon which you have healthcare benefits through other employment, or # the date upon which you are otherwise no longer eligible for COBRA continuation coverage. The Company will pay these premiums directly to the Company’s insurance providers; if you do not elect continuation coverage under COBRA for any reason, the Company will not be obligated to make any payments and you will not receive these amounts in cash or in any other form of compensation.

if you elect to continue your current medical, dental and vision insurance coverage under the law known as COBRA, the Company will pay for such coverage for the period from the Termination Date through August 31st, 2019 (the Company will pay these premiums directly to the Company’s insurance providers; if you do not elect for continuing coverage under COBRA the Company will not be obligated to make any payments and you will not receive these amounts in cash or in any other form of compensation).

If at the time of your employment termination you participate in health care coverage through the Company’s plan, then provided that you timely elect continued coverage under COBRA, the Company will pay your COBRA premiums (less your standard employee contribution) to continue your coverage (including coverage for eligible dependents, if applicable) (“COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on the termination date and ending on the earliest to occur of the date: # twelve (12) months after the termination date; # you become eligible for group health insurance coverage through a new employer; or # you cease to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such event.

If you timely elect to continue your Company-provided health insurance coverage pursuant to federal COBRA law, the Company will pay directly or, at its election, reimburse you for the cost of such COBRA premiums, at the same level as you maintain as of the date of termination, through the end of the COBRA period (18 months), or until such time as you qualify for health insurance benefits through a new employer, whichever occurs first (the “COBRA Period”). The reimbursement shall be for 100% of your COBRA premiums, as well as for your eligible dependents’ COBRA premiums, and the coverage to be provided on this basis shall be health and dental coverage. Notwithstanding the foregoing, if # any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) under Treasury Regulation Section 1.409A-1(a)(5), or (y) the Company is otherwise unable to continue to cover you under its group health plans without incurring penalties (including without limitation, pursuant to the Patient Protection and Affordable Care Act or Section 2716 of the Public Health Service Act or any other health care law), then, in either case, an amount equal to each remaining COBRA premium under such plans shall thereafter be paid to you in substantially equal monthly installments over the COBRA Period (or the remaining portion thereof) (the benefits under this Section 6(b)(v), the “COBRA Benefit”).

If you timely elect to continue your Company-provided health insurance coverage pursuant to federal COBRA law, the Company will pay directly or, at its election, reimburse you for the cost of such COBRA premiums, at the same level as you maintain as of the date of termination, through the end of the COBRA period (18 months), or until such time as you qualify for health insurance benefits through a new employer, whichever occurs first (the “COBRA Period”). The reimbursement shall be for 100% of your COBRA premiums, as well as for your eligible dependents’ COBRA premiums, and the coverage to be provided on this basis shall be health and dental coverage. Notwithstanding the foregoing, if # any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) under Treasury Regulation Section 1.409A-1(a)(5), or (y) the Company is otherwise unable to continue to cover you under its group health plans without incurring penalties (including without limitation, pursuant to the Patient Protection and Affordable Care Act or Section 2716 of the Public Health Service Act or any other health care law), then, in either case, an amount equal to each remaining COBRA premium under such plans shall thereafter be paid to you in substantially equal monthly installments over the COBRA Period (or the remaining portion thereof) (the benefits under this [Section 6(b)(v)], the “COBRA Benefit”).

Benefits. Provided that Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA, the Company will reimburse Employee for the cost of COBRA premiums for continued health (i.e., medical, dental and vision) coverage at the same level of coverage as was provided to Employee immediately prior to the date of Employee’s termination by the Company for reasons other than Cause (the “Termination Date”) and at the same ratio of Company premium payment to Employee premium payment as was in effect immediately prior to the Termination Date (“Company Paid Coverage”). If Company Paid Coverage included Executive’s eligible dependents immediately prior to the Termination Date, such reimbursement will cover dependents in the same proportion as provided above. Company Paid Coverage shall continue until the earlier of # twelve (12) months following the Termination Date, and # the date upon which Employee or Employee’s dependents become covered under another employer’s group health, dental and vision insurance benefit plans. For purposes of Title X of COBRA, the date of the qualifying event for Employee and her dependents shall be the Termination Date.

subject to Employee timely and properly electing coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), Employer shall provide Employee access to continued medical, dental, and vision coverage for a period of up to eighteen (18) months beginning the first day of the calendar month following Executive’s termination of employment and ending on the first to occur of the last day of the eighteenth (18th) month, the date Executive ceases to be eligible for COBRA or the date Executive, his spouse and eligible dependents become eligible to be covered under another employer’s medical, dental and vision plans, whichever is sooner(with the cost of such coverage to Employee equal to the active employee rate for the coverage plus applicable tax withholdings on the difference between the full COBRA premium for the coverage and the active employee rate), provided that, if the Employer determines in its sole discretion that it cannot provide the foregoing subsidy of COBRA coverage without potentially violating or causing the Employer to incur additional expense as a result of noncompliance with applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Employer instead will pay Employee a taxable lump sum payment in an amount equal to the monthly COBRA premium (or an equivalent monthly payment in the event the Employee is no longer eligible for COBRA) that Employee would be required to pay to continue the group health coverage in effect on the date of Employee’s termination of employment for eighteen (18) months for Employee and Employee’s eligible dependents pursuant to the Employer’s health insurance plans in which Employee or Employee’s eligible dependents participated as of the day of Executive’s termination (which amount shall be based on the premium for the first month of COBRA coverage).

COBRA. The Company shall pay directly to the applicable plan administrator the full cost for continuation of medical, dental and vision insurance coverage for Employee, Employee’s spouse and other eligible dependents under COBRA or similar federal, state or local law for a period of nine (9) months commencing on March 1, 2021, or until Employee has secured health insurance coverage through another employer, whichever occurs first, provided Employee timely elects such continuation coverage within the time period prescribed by applicable law. Notwithstanding the preceding, if the Company determines, in its sole discretion, that it cannot provide the foregoing COBRA benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or having the COBRA benefit be subject to tax, the Company will, in lieu thereof, instead provide the Employee a taxable payment in an amount equal to the monthly COBRA premium that the Employee would be required to pay to continue the Employee’s group health coverage in effect on the date of termination of employment (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether the Employee elects COBRA continuation coverage and will commence in the month following the month of the Termination Date and continue for the period of months indicated in this section.

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