Platinum Plan definition

Platinum Plan. Maximum out of pocket (OOP) costs of $2,800 single coverage, $5,600 other coverages. Teachers are responsible for the first $400 of OOP costs required for single coverage, the first $800 for two persons or parent-child coverage and the first $1,000 for family coverage. The District will fund the next OOP costs of $2,100 (single coverage), $4,200 two persons or parent child coverage and $4,000 family coverage through a Health Reimbursement Account (HRA). Teachers will then be responsible for the last $300 of OOP costs required for single coverage, the last $600 for two persons or parent-child coverage and the last $600 for family coverage. Gold Plan: Maximum out of pocket (OOP) costs of $3,100 single coverage, $6,200 other coverages. Teachers are responsible for the first $400 of OOP costs required for single coverage, the first $800 for two persons or parent-child coverage and the first $1,000 for family coverage. The District will fund the next OOP costs of $2,100 (single coverage), $4,200 two persons or parent child coverage and $4,000 family coverage through a Health Reimbursement Account (HRA). Teachers will then be responsible for the last $600 of OOP costs required for single coverage, the last $1,200 for two persons coverage or parent-child coverage and the last $1,200 for family coverage. Silver Plan: Maximum out of pocket (OOP) costs of $4,000 single coverage, $8,000 other coverages. Teachers are responsible for the first $400 of OOP costs required for single coverage, the first $800 for two persons or parent-child coverage and the first $1,000 for family coverage. The District will fund the next OOP costs of $2,100 (single coverage), $4,200 two persons or parent child coverage and $4,000 family coverage through a Health Reimbursement Account (HRA). Teachers will then be responsible for the last $1,500 of OOP costs required for single coverage, the last $3,000 for two persons or parent-child coverage and the last $3,000 for family coverage. Funds in the HRA will be available and may be used solely to pay for qualified medical and prescription drug expenses that track towards the annual deductible, co-payment or co-insurance expenses required by the Plan selected. The District will be responsible for the administrative costs of operating the HRA plan. Any substantive or procedural issue related to the operation or administration of the HRA Plan not specified herein is left to the discretion of the District. The District’s contribution toward premiu...
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Platinum Plan means any of the Platinum Plans set forth on Exhibit O.
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Platinum Plan. List of Covered Products: Built-in microwave, kitchen exhaust fan, range/oven/cooktop, dishwasher, refrigerator (EXCLUDES ICE MAKER), garbage disposal, whole house humidifier, and water heater.
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Examples of Platinum Plan in a sentence

  • Acts as a Series 6 “registered representative” with respect to the sale or services with respect to mutual funds and variable products only.Must have a CLU, CHFC or CFP designation to qualify for this plan.Coverage Option “B-1” - “Gap Coverage” for the coverage provided under Coverage Option “B”.Coverage Option “C” - Platinum Plan.


More Definitions of Platinum Plan

Platinum Plan. Maximum out of pocket (OOP) costs of $2,800 single coverage, $5,600 other coverages. The Board will have the same monetary obligation to fund the first dollar of OOP costs required under the Platinum Plan that the Board has under the Gold CDHP Plan, based on the level of coverage selected. ESPs will be financially responsible to pay the difference in last dollar OOP costs associated with the Platinum Plan, based on the level of coverage selected. The Board will fund its share of the OOP costs under the Platinum Plan through an HRA. Gold Plan: Maximum out of pocket (OOP) costs of $3,100 single coverage, $6,200 other coverages. The Board will have the same monetary obligation to fund the first dollar of OOP costs required under the Gold Plan that the Board has under the Gold CDHP Plan, based on the level of coverage selected. ESPs will be financially responsible to pay the difference in last dollar OOP costs associated with the Gold Plan, based on the level of coverage selected. The Board will fund its share of the OOP costs under the Gold Plan through an HRA. Silver Plan: Maximum out of pocket (OOP) costs of $4,000 single coverage, $8,000 other coverages. The Board will have the same monetary obligation to fund the first dollar of OOP costs required under the Silver Plan that the Board has under the Gold CDHP Plan, based on the level of coverage selected. ESPs will be financially responsible to pay the difference in last dollar OOP costs associated with the Silver Plan, based on the level of coverage selected. The Board will fund its share of the OOP costs under the Silver Plan through an HRA. There will be no pro-ration of the District’s contribution toward HRA funding for ESPs who become employed or eligible for insurance after January 31 of any Plan Year. Funds in the HRA will be available and may be used solely to pay for qualified medical and prescription drug expenses that track towards the annual deductible, co-payment or co-insurance expenses required by the Plan selected. There shall be no payments caps on a “per participant” basis other than the maximum HRA contribution made by the District. Payments for eligible OOP charges incurred will be made automatically to the Provider. The WCSU Flexible Benefits Plan document will allow employees to roll over funds from one calendar year to the next to the extent allowed by law. Unspent funds in the District’s HRA will not roll over or accumulate from year to year, but will revert to the District, subject ...
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Platinum Plan. Bargaining unit members who participate in the Platinum Plan will be eligible for the following funding to a Health Reimbursement Account (HRA). During the 2021-2022 contract year, the District will fund up to $1,500.00 annually for single coverage and up to $3,000.00 annually for all other coverage levels in a Health Reimbursement Account (HRA). The HRA funding may be used for the deductible, medical copayments, out of network claims, and prescription copayments. During the 2022-2023 contract year, the District will fund up to $1,500.00 annually for single coverage and up to $3,000 annually for all other coverage levels in a Health Reimbursement Account (HRA). The HRA funding may be used for the deductible, medical copayments, out of network claims, and prescription copayments. During the 2023-2024 contract year, the District will fund up to $1,500.00 annually for single coverage and up to $3,000.00 annually for all other coverage levels in a Health Reimbursement Account (HRA). The HRA funding may be used for the deductible, medical copayments, out of network claims, and prescription copayments. During the 2024-2025 contract year, the District will fund up to $1,200.00 annually for single coverage and up to $2,700.00 annually for all other coverage levels in a Health Reimbursement Account (HRA). The HRA funding may be used for the deductible, medical copayments, out of network claims, and prescription copayments.
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Related to Platinum 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.

  • Indigenous Peoples Plan or “IPP” means any of the plans prepared and carried out following the requirements of the Indigenous Peoples Planning Framework.

  • AIP means the Nucor Corporation Senior Officers Annual Incentive Plan and any successor plan.

  • Opium poppy means the plant of the species Papaver somniferum L., except its seeds.

  • Incentive Plans means any incentive, bonus, deferred compensation or similar plan or arrangement currently or hereafter made available by Employer in which Executive is eligible to participate.

  • MIP has the meaning set forth in Section 3(b) of the Agreement.

  • BCDR Plan means the plan consisting of general business continuity and disaster recovery principles, the Business Continuity Plan and Disaster Recovery Plan as further described in paragraph 1.2 of Schedule 2- 14.

  • Seller 401(k) Plan has the meaning set forth in Section 5.5(e).