38 applicable federal laws regarding requirements for timing and content of such notices. Moreover, the Plan Administrator may select or appoint another entity or individual to handl e COBRA administration, where applicable. COBRA Definitions For purposes of this Section only, the following definitions shall apply: (a) “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. (b) “COBRA Continuation Coverage” means the coverage elected by a Qualified Beneficiary as of the date of a Qualifying Event. This coverage shall be the same as the health coverage provided to Similarly Situated Beneficiaries who have not experienced a Qualifying Event as of the date the Qualified Beneficiary experiences a Qualifying Event. If the provisions of this Plan are modified for Similarly Situated Beneficiaries, such coverage shall also be modified in the same manner for all Qualified Beneficiaries as of the same date. Open enrollment rights extended to active Employees will also be extende d to Similarly Situated Qualified Beneficiaries. (c) “Continuation Coverage Contribution” means the amount of premium contribution required to be paid by or on behalf of a Qualified Beneficiary for COBRA Continuation Coverage. (d) “Continuation Coverage Period” means the applicable time period for which Continuation Coverage may be elected. (e) “Covered Employee” means an Employee covered under this Plan on the day prior to the Qualifying Event. If an individual who otherwise would be a Covered Employee is denied coverage under the Plan in violation of applicable law, including HIPAA, the individual is considered a Covered Employee. (f) “Annual Enrollment Period” means a period during which an Employee covered under the Plan can choose to be covered under another Plan or under another benefit option within the same plan, or add or eliminate coverage of family members. (g) “Qualified Beneficiary” means a Covered Employee or Qualifying Dependent. (h) “Qualifying Dependent” means: i. a Covered Employee’s Spouse or Dependent child covered under this Plan on the day prior to the Qualifying Event; or ii. a Dependent child who is born to, adopted by or placed for adoption with a Covered Employee during the Covered Employee’s period of COBRA Continuation Coverage. (i) “Qualifying Event” means any of the following events which would otherwise result in a Covered Employee’s or a Qualifying Dependent’s loss of health coverage in the absence of this provision: i. a Covered Employee’s Termination of Employment, for any reason other than gross misconduct;
2026 Benefits Guide by Snellings Walters Page 85 Page 87