Premium equivalent definition

Premium equivalent means the payments made to the managed care organization by the Oregon Health Authority for providing health services under ORS chapter 414.

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Premium equivalent means a claim for reimbursement of the cost of a health care item or service provided to an eligible employee or family member, other than a dental or vision care item or service, and the administrative costs associated with the claim.

Premium equivalent is defined as the total of all amounts paid by under this Agreement by Clients assigned to Agency.

Examples of Premium equivalent in a sentence

An employee who is required to be on call during the standard work cycle, which includes a statutory holiday, shall be paid an additional On Call Premium equivalent to two (2) hours pay at the employee’s regular hourly rate in addition to the Standard On Call Premium any wages earned for attending to trouble calls.
An employee who is required to be on call during the standard work cycle, which includes a statutory holiday, shall be paid an additional On Call Premium equivalent to two (2) hours pay at the employee’s regular hourly rate in addition to the Standard On Call Premium for any wages earned for attending to trouble calls.
Premium equivalent increases at or under 5% will be shared by the Board and the employees as required by Article XIII, Section M.
In consideration the Reinsurers hereon will release to renewing markets Premium equivalent to 65% of the total Net Ceded Premium (Gross Ceded Premium less applicable ceding commission) derived from such Modified Claims Made Policies attaching during the term of this Agreement.
Premium equivalent increases at or under 5% will be shared by the Board and the employees.
Premium equivalent rates for future years shall be established by the August immediately preceding the next plan year.
In consideration Reinsurers hereon will release to renewing markets Premium equivalent to 65% of the total Net Ceded Premium (Gross Ceded Premium less applicable ceding commission) derived from such Modified Claims Made Policies attaching during the term of this Agreement.
An employee who is required to be on call for a standard week cycle of seven (7) days shall be paid a Standard On Call Premium equivalent to six (6) hours pay at the employee’s regular hourly rate for each standard work cycle that the employee is on call, in addition to any wages earned for attending to trouble calls during that standard work cycle.
Premium equivalent increases at or under 6.25% will be shared by the Board and the employee as required above in subparagraph “1”.
Premium equivalent increase at or under 6.25% will be shared by the Board and the teacher as required above in this Section D.

More Definitions of Premium equivalent

Premium equivalent means the cost per Covered Employee, or the amount Plan Sponsor would expect to reflect the cost of claims paid, administrative costs and stop- loss premiums.

Premium equivalent means the cost per covered employee, or the amount Plan Sponsor would expect to reflect the cost of claims paid, administrative costs, and stop- loss premiums.

Premium equivalent means the total costs of providing and maintaining medical coverage, including claim costs, administrative costs, and stop loss premiums, if applicable. Stop loss reimbursements and any pharmacy rebates should be factored into the calculations and subtracted from the total prior to calculating the premium equivalent.