{"id":39891,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/executive-medical-reimbursement-plan-the-home-depot-inc.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"executive-medical-reimbursement-plan-the-home-depot-inc","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/executive-medical-reimbursement-plan-the-home-depot-inc.html","title":{"rendered":"Executive Medical Reimbursement Plan &#8211; The Home Depot Inc."},"content":{"rendered":"<pre>\n                      EXECUTIVE MEDICAL REIMBURSEMENT PLAN\n\n                                THE HOME DEPOT(R)\n\n                            EFFECTIVE JANUARY 1, 1992\n\n\nELIGIBILITY\nTo be eligible for EMRP, an employee must be an officer of the Company. The\nemployee must elect coverage for himself\/herself land any eligible dependents\nunder the Company's Group Health Plan.\n\nENROLLMENT\nUpon becoming eligible for the EMRP, an employee will automatically be enrolled\nin the plan provided he\/she is currently enrolled in the Group Health Plan.\n\nCOVERAGE\nCoverage will be extended by the plan for any medical expense which would be a\ndeductible medical expense under Federal Income Tax regulations. This can\ninclude expenses not reimbursed by the Group Health Plan due to deductibles,\nco-insurance, plan exclusions, eyeglasses, orthodontics, or medically necessary\nadditions and alterations to a home. These and other expenses would be covered\nby EMRP if they qualify under applicable IRS regulations.\n\nBENEFITS\nEMRP does not require satisfaction of a deductible. Eligible medical expenses\nwill be reimbursed at 100%.\n\nCLAIM FILING\nBills for medical expenses should be submitted to the Claims Administrator in\nthe special MRP envelopes provided. The administrator will first pay benefits\nunder the Group Health Plan. Reimbursement for expenses not fully covered (or\nnot covered at all) by the Group Health Plan will then be paid for the EMRP.\n\nMAXIMUM ANNUAL BENEFIT\nThe maximum EMRP benefits payable during a calendar year for a covered employee\nand family is $10,000.\n\nTAXES\nUnlike benefit received from the Group Health Plan (which are not taxable\nincome) payments under EMRP are regular income. They are subject to both Federal\nand State income tax, and FICA if the employee's pay falls below the FICA salary\nlimit.\n\n\n\nADDITIONAL REIMBURSEMENT\nIn March of each year while the EMRP remains in effect, the Company will make an\nadditional payment to each employee who received benefits under the plan during\nthe previous year. The amount paid will be a percentage of the EMRP benefits,\ncalculated to cover the taxes generated by such benefit payments. That\npercentage may be changed from time to time in order to reflect changes in\napplicable tax rates. The additional reimbursement is also taxable income, and\nwill be included in the employee's W-2 for the year in which the additional\nreimbursement was paid.\n\nTERMINATION OF COVERAGE\nCoverage will terminate on the earliest of the following dates:\n\n1.       An employee terminates employment with Home Depot.\n\n2.       Coverage under the Company's Group Health Plan terminates, either due\n         to voluntary action on the part of the employee, or because the Company\n         has cancelled the Group Health Plan.\n\n3.       At the end of an approved leave of absence, unless the employee returns\n         to full-time employment with the Company.\n\n4.       The employee is no longer an officer of the Company.\n\n5.       The Company elects to discontinue the Executive Medical Reimbursement\n         Plan.\n\nERISA\nEMRP is a cash bonus plan, not insurance. It is not funded, nor does it come\nunder provisions of the Federal Employee Retirement Income Security Act.\n\n\n\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7786],"corporate_contracts_industries":[9493],"corporate_contracts_types":[9540,9539],"class_list":["post-39891","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-home-depot-inc","corporate_contracts_industries-retail__building","corporate_contracts_types-compensation__benefits","corporate_contracts_types-compensation"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39891"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39891"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39891"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}