Cadillac Plan definition

Cadillac Plan. Taxes: the federal government plans to impose a tax on any health plan an employer offers that has a total value greater than $10,200 for single coverage or $27,500 for family coverage; the premium thresholds for such high value health plans may be modified from time to time by the federal government. To the extent the premiums for any medical plan offered by the Company exceed the government-mandated thresholds and that Plan is subject to this Cadillac Plan tax, employees who enroll in the Plan will be responsible for payments to the Company of amounts equal to the Cadillac Plan tax. These payments will be added to the employee’s premium contributions.
View Source
Cadillac Plan. Taxes: the federal government plans to impose a tax on any health plan an employer offers that has a total value greater than $10,200 for single coverage or $27,500 for family coverage; the premium thresholds for such high value health plans may be modified from time to time by the federal government. To the extent the premiums for any negotiated medical plan offered by the Company exceed the government-mandated thresholds and that Plan is subject to this Cadillac Plan tax, Frontier will consult with its actuaries and make design changes necessary to ensure the total value of the plan remains below the government-mandated Cadillac Plan tax thresholds for all levels of the overage (but only to the extent necessary to ensure the plan is not subject to the Cadillac Plan tax).
View Source

Examples of Cadillac Plan in a sentence

  • However, recommendations of the committee for plan changes to avoid the Cadillac Plan Excise Tax will be implemented to the fullest extent permitted by the Board’s insurance provider and applicable law, including the Affordable Care Act.

  • If the District is projected to become subject to a tax or penalty in the nature of a Cadillac Plan Excise Tax (either directly for self-insured coverage or indirectly through an insurer for fully-insured coverage) under the Affordable Care Act for any calendar year, the Insurance Committee provided for in 6.6 will be convened to consider ways to avoid this tax.

  • During such negotiations it is the intent of the parties to agree upon a Health Plan with a total value below the government-mandated Cadillac Plan tax thresholds for all levels of coverage, and to do so in an expeditious manner.

  • If the BOARD becomes subject to a tax or a penalty in the nature of a Cadillac Plan Excise Tax (“the Tax”) due to a choice of health insurance plans, either directly for self-insured coverage or indirectly through an insurer for fully-insured coverage, under the Affordable Care Act for any calendar year during the term of this Agreement, the BOARD shall notify the ASSOCIATION.

  • If an agreement cannot be reached by March 1, 2019, the Board reserves the right to modify the insurance plans in a reasonable manner only to the extent necessary to avoid penalty fees arising under the Cadillac Plan Excise Tax as defined below.

  • B) The Parties agree that this agreement shall be reopened to negotiations for fiscal year commencing July 1, 20 17 as set out in Chapter 20 Code of Iowa, as amended, if under PPACA (Patient Protection & Affordable Care Act) the Cadillac Plan tax applies to the Employer or major changes in insurance coverage' s or premiums are experienced and shall apply if mutually agreeable impasse procedures have not been adopted.

  • The Parties agree that this agreement shall be reopened to negotiations for fiscal year commencing July 1, 2021 as set out in Chapter 20 Code of Iowa, as amended, if under PPACA (Patient Protection & Affordable Care Act) the Cadillac Plan tax applies to the Employer or major changes in insurance coverage’s or premiums are experienced and shall apply if mutually agreeable impasse procedures have not been adopted.

  • B) The Parties agree that sections pertaining to insurance and wages of this agreement shall be reopened to negotiations for fiscal year commencing July 1, 2021 as set out in Chapter 20 Code of Iowa, as amended, if under PPACA (Patient Protection & Affordable Care Act) the Cadillac Plan tax applies to the Employer or major changes in insurance coverage’s or premiums are experienced and shall apply if mutually agreeable impasse procedures have not been adopted.

  • B) The Parties agree that this agreement shall be reopened to negotiations for fiscal year commencing July 1, 2017 as set out in Chapter 20 Code of Iowa, as amended, if under PPACA (Patient Protection & Affordable Care Act) the Cadillac Plan tax applies to the Employer or major changes in insurance coverage' s or premiums are experienced and shall apply if mutually agreeable impasse procedures have not been adopted.

  • To the extent the premiums for the negotiated “Quemetco Health Insurance Plan” will exceed the government-mandated thresholds and the Plan will be subject to this "Cadillac Plan" tax, or any other tax or fine is imposed on the plan, the Collective Bargaining Agreement between the parties will be "re-opened" for the sole purpose of negotiating modifications to the Plan necessary to ensure the premiums do not exceed the government- mandated thresholds.

Related to Cadillac Plan

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • PEBB program means the program within the HCA that administers insurance and other benefits for eligible employees (as described in WAC 182-12-114), eligible retired employees (as described in WAC 182-12-171 and 182-12-180), eligible survivors (as described in WAC 182-12-180, 182-12-250, and 182-12-265), eligible dependents (as de- scribed in WAC 182-12-250 and 182-12-260) and others as defined in RCW 41.05.011.

  • Nursing Service Plan means the plan that is developed by the registered nurse based on an Individual’s initial nursing assessment, reassessment, or updates made to a nursing assessment as a result of monitoring visits. The Nursing Service Plan must describe all licensed nursing services the Individual shall receive and be pursuant to the Individual’s Service Plan.

  • Company 401(k) Plan has the meaning set forth in Section 6.09(a).

  • EHC plan means an Education, Health and Care plan made under sections 37(2) of the Children and Families Act 2014.