Examples of COBRA in a sentence
Under Federal COBRA you may be eligible to continue your same group health insurance for up to 18 months if your job ends or your hours are reduced.
Subject to Paragraph 5.e below, if Employee timely elects continuation of health and welfare benefits pursuant to the COBRA, Energy Vault agrees to reimburse Employee for COBRA premiums Employee pays for such coverage for up to five (5) months (May 1, 2024 through September 30, 2024), so long as Employee is not eligible for group medical coverage through another source, such as another employer or spousal coverage.
From and after the Transition Date, the Executive will not be eligible to continue to receive health care benefits (e.g., health, dental and vision) offered by the Company and instead will be eligible to elect COBRA at Executive’s sole expense.
COBRA benefits will only be available if the COBRA benefit period (normally 18 months) extends beyond the other benefits coverage periods, as COBRA coverage periods run concurrently with other benefits provided after termination of employment, including termination of the transition year, if applicable.
For purposes of clarity, Employee acknowledges and agrees that Energy Xxxxx’s obligation to pay the COBRA reimbursement shall cease in the event Employee becomes eligible for other group health insurance coverage.