For purposes of this subchapter, the term qualifying event means, with respect to any covered employee, any of the following events which, but for the continuation coverage required under this subchapter, would result in the loss of coverage of a qualified beneficiary:
(1) The death of the covered employee.
(2) The termination (other than by reason of such employees gross misconduct), or reduction of hours, of the covered employees employment.
(3) The divorce or legal separation of the covered employee from the employees spouse.
(4) The covered employee becoming entitled to benefits under title XVIII of the Social Security Act [
42 U.S.C.
1395 et seq.].
(5) A dependent child ceasing to be a dependent child under the generally applicable requirements of the plan.
