COBRA Insurance Coverage Sample Clauses
The COBRA Insurance Coverage clause outlines an employee's right to continue their group health insurance benefits after leaving employment, as mandated by federal law. Typically, this clause specifies the conditions under which former employees and their dependents can elect to maintain health coverage, the duration of continued coverage (usually up to 18 or 36 months), and the responsibility for paying premiums. Its core function is to ensure that individuals do not experience a sudden loss of health insurance due to job loss or other qualifying events, thereby providing a safety net during periods of transition.
COBRA Insurance Coverage. If Employee elects any insurance coverage under COBRA following the Term, then Employee shall be responsible for all amounts due for such insurance coverages under COBRA.
COBRA Insurance Coverage. For the period beginning on the Termination Date (or if later, the date health insurance for the Employee and Employee’s dependents ends during the Consulting Period) and ending on the later of the dates on which either Employee or his spouse qualifies for full Medicare healthcare benefits (the “Medicare Eligibility Date”), Employee and Employee’s dependents shall be entitled to maintain health insurance under the Company’s group medical and dental insurance plans to the extent, if any, permitted under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (“COBRA”). Employee will be provided with applicable COBRA forms and Employee shall timely and properly complete such forms. The Company shall reimburse Employee for any COBRA premiums he incurs for health insurance for Employee and Employee’s dependents. From and after the Medicare Eligibility Date, the Company shall reimburse Employee for the costs associated with a Medicare supplemental policy; provided, however, that the Company’s obligations under this Section 4 shall terminate June 30, 2009.
COBRA Insurance Coverage. If Employee elects any insurance coverage under COBRA, Employee shall be responsible for all amounts due for such insurance. During the Severance Pay period the Company will continue to subsidize the insurance coverage and Employee will pay the same rates as current Company employees for such COBRA benefits elected. The full COBRA rate will automatically be charged to Employee the first month following the end of the Severance Pay period.
COBRA Insurance Coverage. In addition to such payment, Company and Parent will, for a period of six (6) months following the Separation Date, continue to provide Executive with health insurance coverage in the same manner as currently provided by Company or Parent to Executive. If Executive elects any insurance coverage under COBRA beyond such 6-month period, then Executive shall be responsible for all amounts due for such insurance coverage under COBRA.
COBRA Insurance Coverage. For the period beginning on the Termination Date, Employee and Employee’s dependents shall be entitled to maintain health insurance under the Company’s group medical and dental insurance plans to the extent, if any, permitted under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (“COBRA”). Employee will be provided with applicable COBRA forms and Employee shall timely and properly complete such forms. The Company shall reimburse Employee for the value of any COBRA premiums that would be incurred for health insurance for Employee and Employee’s dependents for the one-year period following the Termination Date. Nothing contained herein shall require Employee to pay applicable COBRA payments to the Company’s and Employee’s current health insurer.