Retiree Medical Coverage definition

Retiree Medical Coverage means continued medical coverage for the Executive and the Executive’s eligible dependents at a level that is materially equivalent to the coverage provided by the Company to similarly situated retired executives pursuant to the Company’s post-retirement medical plan (or any applicable plan maintained by a successor or any of its Affiliates). Such coverage (i) shall be provided through any reasonable method selected by the Company (including (A) through an individual policy purchased by the Company or (B) through an individual policy purchased by the Executive and reasonably acceptable to the Company for which the Executive is entitled to reimbursement from the Company), and the Company shall retain the discretion to change the method of providing such coverage at any time so long as the Company otherwise complies with its obligations hereunder, and (ii) shall be provided by the Company at no greater after-tax cost to the Executive than that applicable to similarly situated retired executives of the Company who are receiving materially equivalent coverage under the Company’s post-retirement medical plan (or any applicable plan maintained by a successor or any of its Affiliates).
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Retiree Medical Coverage means medical insurance coverage for each of Executive's and his spouse's lifetime (or solely for his spouse's lifetime in the case of a termination pursuant to Section 6(b)) that, in conjunction with the coverage available to Executive and his spouse pursuant to Medicare Part B, if any, is substantially similar in the aggregate to the coverage provided to Executive and his spouse immediately prior to the Termination Date. The Company will use its reasonable best efforts to provide the Retiree Medical Coverage in a manner that results in the exclusion of such benefits from the income of Executive and his spouse. The Company will use its reasonable best efforts to provide the Retiree Medical Coverage such that Section 105(h) will not apply. If such Retiree Medical Coverage is provided through reimbursement of premiums paid by Executive and/or his spouse (as a result of agreement of Executive and the Company), Executive and/or his spouse shall provide to the Company evidence of coverage under any applicable health insurance policy or Medicare supplemental health policy.
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Retiree Medical Coverage. Your eligibility for retiree medical coverage and the monthly amount payable for such coverage will be determined based on your age and years of service as of your Separation Date. If on your Separation Date, you (1) have at least 30 years of eligible service, (2) are at least age 50, have at least 5 years of eligible service with combined age and service of 65 years or more, or (3) otherwise satisfy the eligibility requirements under the OPC medical plan, you will be eligible to receive retiree medical coverage beginning on the first day of the month following your Separation Date if you are then age 55 or older (if you are not then age 55, you will be eligible on the first day of the month on or after your 55th birthday) under the terms of the OPC medical plan in effect at that time, subject to any future changes. Immediately prior to commencing retiree medical coverage under the OPC medical plan, you must be enrolled in an OPC-sponsored medical plan or covered under another group medical plan.
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Examples of Retiree Medical Coverage in a sentence

  • If Executive has satisfied the requirements for receiving Retiree Medical Coverage on his Date of Termination or will satisfy such requirements prior to the last day of the CIC Severance Period, Executive (and his dependents) shall be covered by, and receive benefits under, the Company’s Retiree Medical Coverage program for executives at his level.

  • Executive’s Retiree Medical Coverage shall commence on the date his group health care coverage terminates under section 4.3 above, and shall continue for the life of the Executive (i.e., the coverage shall be vested and may not be terminated), subject only to such changes in the level of coverage that apply to executives at his level generally.

  • Any rights such qualified Spinco Employees has under the PNX Retiree Medical Coverage before November 1, 2008 shall remain subject to and shall be governed by the terms and conditions of the PNX Retiree Medical Coverage.

  • Any Spinco Employee who is not eligible for PNX Retiree Medical Coverage on October 31, 2008 is not eligible for nor entitled to PNX Retiree Medical Coverage.

  • PNX shall retain all obligations and Liabilities under, or with respect to, the PNX Retiree Medical Coverage for Spinco Employees covered by paragraph (a) above.

  • If you elect to continue medical coverage under the immediately preceding provision and not the CBS Retiree Medical Plan, you must complete a CBS Retiree Medical Coverage Waiver Form in order to commence continuation of your CBS medical coverage under COBRA.

  • Notwithstanding any provision of this Section 4.4, however, the Company expressly reserves the right to amend or terminate the Company's Retiree Medical Coverage program to the extent set forth therein.

  • Executive’s Retiree Medical Coverage shall commence on the date his group health care coverage terminates under Section 4.3 above, and shall continue for the life of Executive (and his dependents) (i.e., the coverage shall be vested and may not be terminated except as described below), subject only to such changes in the level of coverage that apply to executives at his level generally.

  • Please review the sections below on COBRA and Retiree Medical Coverage for your post-employment medical coverage options.

  • Xxxxx & Co. Dental Plan · Retiree Medical Coverage In addition, during your employment with the Company, you shall also be entitled to participate in all other employee/executive perquisites, pension and welfare benefit plans and programs made available to the Company’s executives or to its employees generally, as such plans or programs may be in effect, and amended, from time to time.


More Definitions of Retiree Medical Coverage

Retiree Medical Coverage means continued medical coverage for you and your eligible dependents at a level that is materially equivalent to the coverage provided by United to similarly situated retired executives pursuant to United’s post-retirement medical plan (or any applicable plan maintained by a successor or any of its affiliates). Such coverage (i) will be provided through any reasonable method selected by United (including (A) through an individual policy purchased by United or (B) through an individual policy purchased by you and reasonably acceptable to United for which you are entitled to reimbursement from United), and United will retain the discretion to change the method of providing such coverage at any time so long as United otherwise complies with its obligations hereunder, and (ii) will be provided by United at no greater after-tax cost to you than that applicable to similarly situated retired executives of United who are receiving materially equivalent coverage under United’s post-retirement medical plan (or any applicable plan maintained by a successor or any of its affiliates).
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Related to Retiree Medical Coverage

  • Continuation Coverage means coverage under a COBRA continuation provision or a similar state program. Coverage provided by a plan that is subject to a COBRA continuation provision or similar state program, but that does not satisfy all the requirements of that provision or program, will be deemed to be continuation coverage if it allows an individual to elect to continue coverage for a period of at least 18 months. Continuation coverage does not include coverage under a conversion policy required to be offered to an individual upon exhaustion of continuation coverage, nor does it include continuation coverage under the Federal Employees Health Benefits Program.

  • Retiree Health Plan means an "employee welfare benefit plan" within the meaning of Section 3(1) of ERISA that provides benefits to individuals after termination of their employment, other than as required by Section 601 of ERISA.

  • Retiree means any person who has begun accruing a retirement

  • Period of Coverage means the Plan Year, with the following exceptions: (a) for Employees who first become eligible to participate, it shall mean the portion of the Plan Year following the date on which participation commences, as described in Section 3.1; and (b) for Employees who terminate participation, it shall mean the portion of the Plan Year prior to the date on which participation terminates, as described in Section 3.2.

  • Coverage means the types of persons to be eligible as the beneficiaries of the Scheme to health services provided under the Scheme, subject to the terms, conditions and limitations.

  • Health care coverage means any plan providing hospital, medical or surgical care coverage for

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Creditable coverage means, with respect to an individual, coverage of the individual provided under any of the following:

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • COBRA Continuation Coverage means the health care benefit continuation coverage mandated by the Consolidated Omnibus Budget Reconciliation Act and similar provisions of state law.

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Fraud Coverage During the period prior to the first anniversary of the Cut-Off Date, 2.00% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date (the "Initial Fraud Coverage"), reduced by Fraud Losses allocated to the Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third and fourth anniversaries of the Cut-Off Date, 1.00% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Fraud Coverage over cumulative Fraud Losses allocated to the Certificates since the Cut-Off Date. The Fraud Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.

  • Site Coverage means ratio expressed in percentage between the area covered by the ground floor of building and the area of the site;

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.