2017 011 Ordinance - Laserfiche WebLink

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SECTION II DEFINITIONS The following words and phrases as used herein shall have the following meanings, unless a different meaning is plainly required by the context: 2.01. "Benefits" means any amounts paid to a Participant in the Plan as reimbursement for Eligible Medical or Prescription Expenses ircurred by the Participant during a Plan Year by him, his Spouse, or his Dependents (as defined by Code Sec. 152). 2.02. "Code" means the Internal Revenue Code of 1986, as amended. 2.03. "Company" means the Employer, or any affiliate or successor thereof that subsequently adopts this Plan. Such term includes any other organization that is a member of a controlled group of businesses within the meaning of Code Secs. 414(b), (c) and (m). Such term shall include any organization that is exempt from federal taxation under Code Sec. 501. 2.04. "Coverage Period" means the Plan Year, during which period the benefits provided by this Plan shall be available to a Participant hereunder. 2.05. "Dependent" means any individual who is a dependent of the Participant within the meaning of Code Sec. 152. 2.06. "Effective Date" means January 1, 2017. 2.07. "Eligible Medical or Prescription Expenses" means those expenses incurred by the Employee, or the Employee's Spouse or Dependents, after the Effective Date of the Employee's participation herein and during the Plan Year otherwise allowable as deductions under Code Sec. 213 (without regard to the limitations contained in Sec. 213(a)), but shall not include an expense incurred for: (a) the payment of premiums under a health insurance plan not sponsored by the Employer. For purposes of this Plan, an expense is "incurred" when the Participant or beneficiary is furnished the medical care or services giving rise to the claimed expense. (b) an illness or injury (or aggravation of an illness or injury) incurred by an Employee during a period of duty with the Uniformed Services. Eligible Medical or Prescription Expenses are further defined to mean those benefits which are eligible for reimbursement under the employer sponsored fully insured health program but are not reimbursed because they are applied to the participant out-of-pocket expense of the fully insured plan. The extent which these expenses are eligible for reimbursement under this plan is outlined in the Schedule of Benefits. 2.08. "Employee" means any individual who is considered to be in a legal employer-employee relationship with the Employer for federal withholding tax purposes. 2.09. "Employer" means the Company creating this Plan, or any affiliate or successor thereof that likewise adopts this Plan. 2.10. "Employer Sponsored Fully Insured Benefit Plan" means the qualified plans offered by the Village as determined annually. 2.11. "Entry Date" means the Effective Date, with respect to those who meet the eligibility requirements of Section III as of such Date, or the effective date for new hires who chose the qualifying plan (currently first of the month following the date of hire), or the first day of any Ma~eld Village HRA Plan 0117.doc 4