Insured Plans Sample Clauses
The 'Insured Plans' clause defines which benefit or insurance plans are covered under an agreement and clarifies their status as insured rather than self-funded. Typically, this clause specifies that certain health, dental, vision, or other employee benefit plans are provided through third-party insurance carriers, meaning the insurer assumes the financial risk for claims. By distinguishing insured plans from self-funded arrangements, this clause ensures clarity regarding financial responsibility and regulatory compliance, helping both parties understand their obligations and the scope of coverage.
Insured Plans. Coverage of ▇▇▇▇▇▇▇ Individuals under any insured welfare benefit plans sponsored by FHP will continue until the Expiration Date, pursuant to the terms of such plans, and will then terminate.
Insured Plans. The Seller Plans that are fully insured and that will continue to provide coverage for Transferred Employees and their dependents during the Transition Period are medical insurance for Sellers Headquarters and Sellers Distribution Facility employees, and life insurance. To the extent that Buyer deducts employee contributions for the employee share of such coverages with respect to coverage provided during the Transition Period, Buyer will pay the amounts so deducted to Sellers within three Business Days following each payroll date on which such amounts are deducted. Sellers will be responsible for the employer share of the premiums for such coverages during the portion of the month of July 2008 from July 1 until the Effective Time. Buyer will be responsible for the employer share of the premiums for such coverages during the Transition Period. Within three Business Days following the payroll date on which the employee share of said premiums are deducted (or would have been so deducted, it being Buyer’s option as to whether so deducted) with respect to coverage provided for a portion of the Transition Period, Buyer will pay to Sellers an amount equal to the employer share of the premium for the coverage provided during that portion of the Transition Period. Sellers will transmit to the respective insurance carriers all premium amounts received from Buyer pursuant to this clause (1), which payments will occur not later than the payment date for each such premium under the historical practices of Sellers.
Insured Plans o
a. The qualified pre-retirement survivor annuity plus the proceeds of insurance policies purchased on the Participant's life; provided that any death benefit in addition to the qualified pre-retirement survivor annuity shall be reduced to the extent necessary so that the sum of such additional benefit and the Present Value of the qualified pre-retirement survivor annuity does not exceed 100 times the Participant's anticipated monthly benefit. For purposes of this requirement, the total face amount of policies purchased will be (fill in the amount) times the Participant's anticipated monthly benefit. o
b. The qualified pre-retirement survivor annuity plus, if a positive amount, the proceeds of insurance policies purchased on the Participant's life plus the Theoretical ILP Reserve minus the sum of the Present Value of the qualified pre-retirement survivor annuity and the cash value of the policies purchased. For purposes of this requirement, the face amount of the insurance policies will be that purchasable by (fill in the amount but not greater than 66% if whole life and not greater than 33% if term and/or universal life) percent of the Theoretical Contribution. o
c. The qualified pre-retirement survivor annuity plus the proceeds of insurance policies purchased on the Participant's life, and the Present Value of the Participant's Accrued Benefit minus the sum of the Present Value of the qualified pre-retirement survivor annuity and the cash value of the policies purchased. o
d. The Theoretical ILP Reserve. For purposes of the above, the calculations for Present Value of any benefit shall be determined in accordance with Section III(C) of this Adoption Agreement.
Insured Plans. The Weekly Indemnity plan and the Long Term Disability Plan will be of standard nature underwritten by an insurance carrier and will include an offset clause for integrating statutory payments such as Canada Pension Plan, Unemployment Insurance, and in the case of Long Term Disability, will also include an offset clause for integrating Workers' Compensation.
Insured Plans. ▇▇▇▇▇▇▇▇▇ is responsible for payment of all premiums attributable to ▇▇▇▇▇▇▇▇▇'▇ plans. To extent these are not paid by ▇▇▇▇▇▇▇▇▇ directly, ▇▇▇▇▇▇▇▇▇ will reimburse National for any premium payments made by National.