McKesson 2005 Annual Report Download - page 193

3. Period of COBRA Continuation Coverage.
a. In General. Each Executive or Dependent’s period of COBRA Continuation Coverage shall begin on the date coverage is lost as a
result of the Qualifying Event which made the Executive or Dependent eligible for COBRA Continuation Coverage and shall end on the
earliest of the following dates:
i. The date for which COBRA Contributions were not timely made for the individual, pursuant to Section I.5.; or
ii. The date after the election of COBRA Continuation Coverage when the individual first becomes covered under another group
health plan, as an employee or otherwise, unless the other group health plan contains an exclusion or limitation for any preexisting condition of
that individual; or
iii. The date after the election of COBRA Continuation Coverage when the individual first becomes covered by and entitled to
Medicare; or
iv. The date when the employer ceases to provide any group health plan to any employee; or
v. The date specified in (b), (c), (d), (e), or (f) below, whichever is applicable to the Qualifying Event; or
vi. The last day of the month for which contributions were made when the Executive or Dependent elects to terminate COBRA
Continuation Coverage.
b. Special Rule for Periods of COBRA Continuation Coverage Subject to the Uniformed Services Employment and Reemployment
Rights Act of 1994. Notwithstanding the foregoing, an Executive or Dependent’s period of COBRA Continuation Coverage that is subject to
the Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”) shall begin on the date of the Qualifying Event
which results in the Executive or Dependent becoming eligible for COBRA Continuation Coverage and shall end on the earliest of the
following dates:
i. The 18-month period beginning on the date on which the Executive’s absence begins; or
ii. The period ending on the day after the date on which the Executive fails to apply for or return to a position of employment with the
Company, as determined under § 4312(e) of USERRA.
c. Termination of Employee Status. If the first Qualifying Event of an Executive or a Dependent is the event which causes the
Executive’s loss of status as an Executive as a result of a termination of employment, each individual’s period of COBRA Continuation
Coverage will end 18 months after the date that coverage is lost due to the Qualifying Event (unless an earlier date is required by
Section I.3.a.). Notwithstanding the above
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