Common use of The Basics Clause in Contracts

The Basics. What should I do with this notice? Read this notice to help you decide if you want to accept the HRA. If you wish to participate in the Individual Coverage HRA that is being offered to you, you MUST complete and mail or fax in the form in this packet. Questions: Contact Cherish HR at (▇▇▇) ▇▇▇-▇▇▇▇ What’s an Individual Coverage HRA? What are the basic terms of the Individual Coverage HRA that my employer is offering? (1) The maximum dollar amount available for each participant in the HRA is the amount paid for individual health insurance (ACA Silver Plan) minus the employee required contribution percent (according to the IRS determined percentage household income (currently 9.83%). Note: You should tell the insurance broker that you (and your dependents) are covered for the plan year. If you apply for health insurance coverage through the Exchange, this is the amount the Exchange will use to figure out if your HRA is considered affordable. You should use your previous year’s income from your W-2 multiplied by the IRS determined percentage to determine the amount of your HRA that you will be responsible to pay. (2) In general, this year your HRA coverage will start on January 1, 2025. However there are life-changing events that could make the enrollment period different for your specific situation. (3) The HRA plan year begins on January 1 and ends on December 31. Yes. If you do not notify Cherish that you are interested in participating the Individual Coverage HRA within 30 days of this notice, you will be considered opting out. You can participate in the ICHRA by sending in writing (the last page of this letter) that you are choosing to opt in to the Cherish office ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ #▇ ▇▇▇▇▇▇▇ ▇▇ Yes. You must be enrolled in individual health insurance coverage or Medicare for each month you are covered by the HRA. You may not enroll in short-term, limited-duration insurance or only in excepted benefits coverage (such as insurance that only provides benefits for dental and vision care) to meet this requirement.

The Basics. What should I do with this notice? Read this notice to help you decide if you want to accept the HRA. If you wish to participate in the Individual Coverage HRA that is being offered to you, you MUST complete and mail or fax in the form in this packet. Questions: Contact Cherish HR at (▇▇▇) ▇▇▇-▇▇▇▇ What’s an Individual Coverage individual coverage HRA? enrolled in individual health insurance coverage or Medicare Part A (Hospital Insurance) and B (Medical Insurance) or Medicare Part C (Medicare Advantage) (collectively referred to in this notice as Medicare) for each month you are covered by the HRA. Only a portion of your insurance premium will be paid by the Cherish in accordance with ACA affordability guidelines. What are the basic terms of the Individual Coverage individual coverage HRA that my employer is offering? (1) The maximum dollar amount available for each participant in the HRA is the amount paid for individual health insurance (ACA Silver Plan) minus the employee required contribution of 9.83 percent of the average income from the employees qualification period (according to the IRS determined percentage household income (currently 9.83%previous calendar year). Note: You should tell Note that the insurance broker that you (and your dependents) are covered self-only HRA amount available for the plan year, which is the amount you should tell the Exchange is available to you, is the self-only HRA minus 9.83% of the lookback period. If you apply for individual health insurance coverage through the Exchange, this is the amount the Exchange will use to figure out if your HRA is considered affordable. You should use your previous year’s income from your W-2 multiplied by the IRS determined percentage 9.83% to determine the amount of your HRA that you will be responsible to pay. (2) Your family members are not eligible for the Cherish LLC paid portion of this HRA. (3) In general, this year your HRA coverage will start on January 1, 20252022. However there are life-changing events that could make However, if you become eligible for the enrollment period different for HRA less than 90 days before the beginning of the plan year or during the plan year, your specific situation.HRA coverage will start on January 1, 2022 (34) The HRA plan year begins on January June 1 and ends on December 31. (5) Amounts newly made available under the HRA will be made available on June 1, 2021. Yes. If you do not notify Cherish that you are interested in participating the Individual Coverage individual coverage HRA within 30 days of this notice, you will be considered opting out. You can participate in the ICHRA individual coverage HRA for yourself by sending in writing (the last page of this letter) that you are choosing to opt in to the Cherish office ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ #▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ Upon Yes. You must be enrolled in individual health insurance coverage or Medicare for each month you are covered by the HRA. You may not enroll in short-term, limited-duration insurance or only in excepted benefits coverage (such as insurance that only provides benefits for dental and vision care) to meet this requirement.

The Basics. What should I do with this notice? Read this notice to help you decide if you want to accept the HRA. If you wish to participate in the Individual Coverage HRA that is being offered to you, you MUST complete and mail or fax in the form in this packet. Questions: Contact Cherish HR at (▇▇▇) ▇▇▇-▇▇▇▇ What’s an Individual Coverage individual coverage HRA? enrolled in individual health insurance coverage or Medicare Part A (Hospital Insurance) and B (Medical Insurance) or Medicare Part C (Medicare Advantage) (collectively referred to in this notice as Medicare) for each month you are covered by the HRA. Only a portion of your insurance premium will be paid by the Cherish in accordance with ACA affordability guidelines. What are the basic terms of the Individual Coverage individual coverage HRA that my employer is offering? (1) The maximum dollar amount available for each participant in the HRA is the amount paid for individual health insurance (ACA Silver Plan) minus the employee required contribution of 9.83 percent of the average income from the employees qualification period (according to the IRS determined percentage household income (currently 9.83%previous calendar year). Note: You should tell Note that the insurance broker that you (and your dependents) are covered self-only HRA amount available for the plan year, which is the amount you should tell the Exchange is available to you, is the self-only HRA minus 9.83% of the lookback period. If you apply for individual health insurance coverage through the Exchange, this is the amount the Exchange will use to figure out if your HRA is considered affordable. You should use your previous year’s income from your W-2 multiplied by the IRS determined percentage 9.83% to determine the amount of your HRA that you will be responsible to pay. (2) Your family members are not eligible for the Cherish LLC paid portion of this HRA. (3) In general, this year your HRA coverage will start on January 1, 20252022. However there are life-changing events that could make However, if you become eligible for the enrollment period different for HRA less than 90 days before the beginning of the plan year or during the plan year, your specific situation.HRA coverage will start on January 1, 2022 (34) The HRA plan year begins on January 1 and ends on December 31. Yes. If you do not notify Cherish that you are interested in participating . (5) Amounts newly made available under the Individual Coverage HRA within 30 days of this notice, you will be considered opting out. You can participate in the ICHRA by sending in writing (the last page of this letter) that you are choosing to opt in to the Cherish office ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ #▇ ▇▇▇▇▇▇▇ ▇▇ Yes. You must be enrolled in individual health insurance coverage or Medicare for each month you are covered by the HRA. You may not enroll in short-termmade available on January 1, limited-duration insurance or only in excepted benefits coverage (such as insurance that only provides benefits for dental and vision care) to meet this requirement2022.