SCSS » Topics » COBRA Reimbursement.

This excerpt taken from the SCSS 8-K filed Aug 27, 2008.
COBRA Reimbursement.  Subject to the succeeding provisions of this section, if the Participant timely elects continued coverage under the Participating Employer’s group medical plan or group dental plan pursuant to section 4980B of the Code (“COBRA”), in accordance with ordinary plan practices and provides appropriate documentation of such payment as requested by the Administrator, for the Premium Reimbursement Period the Participating Employer will reimburse the Participant each month during the Premium Reimbursement Period an amount equal to the difference between the amount the Participant pays for such COBRA continuation coverage each such month and the amount paid by a full-time active employee of the Participating Employer each such month for the same level of coverage elected by the Participant.  For purposes of the preceding sentence, the Premium Reimbursement Period is the period that begins on the date of Termination of Employment and ends on the earlier of:
 
(A) the last date of the Premium Reimbursement Period that applies to the Participant based on his or her Qualified Employee Category in the table below;
 
(B) the date on which the Participant’s eligibility for COBRA continuation coverage under the Company’s group medical or group dental plan ends; or
 
(C) the date on which the Participant becomes eligible to participate in another group medical plan or group dental plan, as the case may be, because of reemployment or otherwise, whether or not the Participant elects to participate in such plan and whether or not such plan provides comparable benefits or includes limitations or exclusions (unless such other group medical plan contains a pre-existing condition exclusion that affects the Participant’s coverage under such plan).
 
Other than the Premium Reimbursement Period payments described in this Section 4.2, the Participant’s coverage under any Employer employee benefit plan is subject to the terms of such employee benefit plan and applicable law.
 
Qualified Employee Category
Premium Reimbursement Period
Grade 15
 
Two Years after the date of Termination of Employment
Grade 14
 
One Year after the date of Termination of Employment
Grade 13
 
Six months after the date of Termination of Employment

 
4.3 
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