Cost of Continued Coverage Clause Samples

The 'Cost of Continued Coverage' clause defines who is responsible for paying for ongoing insurance or benefit coverage after a certain event, such as termination of employment or the end of a contract. Typically, this clause outlines whether the employer, employee, or another party must bear the costs associated with maintaining health insurance, COBRA, or similar benefits during a transition period. Its core practical function is to clarify financial responsibility for continued coverage, thereby preventing disputes and ensuring that all parties understand their obligations regarding post-termination benefits.
Cost of Continued Coverage. The monthly charge for continued coverage will be determined by the Company, and will be the same for all similarly situated individuals electing the same type of coverage under this provision. If any single period of Qualified Uniformed Service is for a period of less than 31 days, the only amount required to be paid by the employee is the amount, if any, the employee would pay if he or she had not entered Qualified Uniformed Service. In other cases, the employee's charge will reflect both the employee's portion and the employer's portion, determined in the same manner as COBRA charges.
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Related to Cost of Continued Coverage

  • Continuing Coverage If a letter of assurance is obtained from any insurer under a Hazard Insurance policy or a Flood Insurance policy that the insurance coverage shall continue in full force and effect, the Servicer shall deposit such letter in the appropriate Servicer Mortgage Loan File.

  • Longer/Shorter Length of Coverage If none of the above rules determine the order of benefits, the benefits of the plan that covered a member or subscriber longer are determined before those of the plan that covered that person for the shorter term.

  • Interest Coverage The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to 1.00 at any time.

  • REPORT OF CONTRACT USAGE All fields of information shall be accurate and complete. The report is to be submitted electronically via electronic mail utilizing the template provided in Microsoft Excel 2003, or newer (or as otherwise directed by OGS), to the attention of the individual shown on the front page of the Contract Award Notification and shall reference the Group Number, Award Number, Contract Number, Sales Period, and Contractor's (or other authorized agent) Name, and all other fields required. OGS reserves the right to amend the report template without acquiring the approval of the Office of the State Comptroller or the Attorney General.

  • ELIGIBILITY and COVERAGE The following ETFO represented employees are eligible to receive benefits through this Trust: