Benefit Reserve definition

Benefit Reserve means the savings recorded by a plan for claims paid for an Insured Person as a Secondary Plan rather than as a Primary Plan.
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Examples of Benefit Reserve in a sentence

  • That portion of the group medical insurance premium normally paid by the District shall be continued during the Sabbatical Leave, but no other employee benefits may be paid during the period of the Sabbatical Leave with the exception that up to one-half (1/2) of the Benefit Reserve Program (BRP) be paid.

  • The issuance of said check will depend upon the availability of an accumulation of fifty percent (50%) of the actuarially determined net annual book value investment returns in excess of eight percent (8%) from Benefit Reserve Funds.

  • The additional 0.16% increase will be paid from the Employee Benefit Reserve described in Municipal Code section 24.1507 until the Reserve is exhausted.

  • Benefit Reserve When we are secondary we often will pay less than we would have paid if we had been primary.

  • When the Health Plan does not have to pay full benefits, or recovers the reasonable cash value of the Services provided because of COB, the savings will be credited to the Member in a Benefit Reserve Account.

  • The additional 0.16% increase will be paid from the Employee Benefit Reserve described in San Diego Municipal Code section 24.1507 until the Reserve is exhausted.

  • The Fringe Benefit Reserve Contribution shall apply to all Journeymen and shall be paid on hours paid.

  • A Member may request detailed information concerning their Benefit Reserve Account from our Patient Accounting Department.

  • When the Health Plan does not have to pay full benefits, or it recovers the reasonable cash value of the services provided because of coordination of benefits, the savings will be credited to the Member in a Benefit Reserve Account.

  • Each April, the Union and Association shall meet for the purpose of determining where the Fringe Benefit Reserve Contribution will be directed the following July 16.The bargaining parties shall direct the Fringe Benefit Reserve Contribution to the Define Benefit Pension Trust, Health and Welfare Trust, or JATC Trust, and this redirection of contributions shall remain in effect for a period of no more than one year and shall therefore sunset on July 15 the following year.

Related to Benefit Reserve

  • Pension reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any retirement allowance or benefit in lieu of any retirement allowance, granted to a member or beneficiary under this chapter.

  • Cash Reserve means the monies standing to the credit of the Cash Reserve Account at any given time.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Unfunded Benefit Liabilities means with respect to any Plan at any time, the amount (if any) by which (i) the present value of all benefit liabilities under such Plan as defined in Section 4001(a)(16) of ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan (on the basis of assumptions prescribed by the PBGC for the purpose of Section 4044 of ERISA).