Amount of Buy-Out. An employee who is eligible for individual or family coverage will receive an amount equivalent to fifty percent of the Employer’s annual premium contribution for individual, “two- person” or family coverage. For example, if the Town is contributing 85% of a $13,000 premium for family coverage, or $11,050, the amount of the buy-out would be 50% of $11,050, or $5,525. The buy- out is subject to applicable taxes.
Amount of Buy-Out. The employee will receive forty percent of the Village’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). For example, if the Village is contributing 86% of a $13,000 premium for family coverage, or $11,180, the amount of the buy-out would be 40% of $11,180, or $4472. The buy-out is subject to applicable taxes.
Amount of Buy-Out. The employee will receive forty percent of the Employer’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). For example, if the Employer is contributing 80% of a $13,000 premium for family coverage, or $10,400, the amount of the buy-out would be 40% of $10,400, or $4160. The buy-out is subject to applicable taxes.
Amount of Buy-Out. If the employee is eligible for individual coverage, the employee will receive thirty percent of the monthly premium for individual coverage. If the employee is eligible for two-person coverage, the employee will receive thirty percent of the monthly premium for two-person coverage. If the employee is eligible for family coverage, the employee will receive thirty percent of the monthly premium for family coverage. The buy-out is subject to applicable taxes.
Amount of Buy-Out. Each year, an eligible employee will receive an amount equal to the annual premium co-payment for the employee’s contribution to the alternate medical insurance plan (excluding dental and vision) multiplied by 1.32 plus one thousand dollars. In no event will the buy-out exceed $10,000. For example, if the annual premium co-pay for the alternate plan is $2800, the amount of the buy-out would be $2800 X 1.32 = $3696 + $1000 = $4696. The buy-out is subject to applicable taxes.
Amount of Buy-Out. If the employee is eligible for individual coverage, the employee will receive an amount equivalent to forty percent of the Town’s annual premium contribution for individual coverage. If the employee is eligible for dependent coverage, the employee will receive an amount equivalent to forty percent of the Town’s annual premium contribution for dependent coverage.
Amount of Buy-Out. 1) An employee will be allowed to receive a percentage of the Town contribution as follows: The amount of the medical insurance buyout will be thirty percent of the Town’s annual premium contribution for the medical insurance coverage the employee is eligible for (individual, two-person, or family). For example, if the Town would be contributing 88% of a $13,000 premium for family coverage, or $11,440, the amount of the buy-out would be 30% of the $11,440, or $3432. The medical insurance buy-out is subject to applicable taxes.
Amount of Buy-Out. An employee who opted out of the medical plan prior to September 1, 2008 will receive forty percent of the Employer’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). For example, if the Employer is contributing 80% of a $13,000 premium for family coverage, or $10,400, the amount of the buy-out would be 40% of $10,400, or $4160. The buy-out is subject to applicable taxes. An employee who did not opt out of the medical plan prior to September 1, 2008 but later opts for single coverage and foregoes two-person or family coverage will receive forty percent of the difference between the Employer’s share of the eligible annual premium coverage level and the selected single coverage. For example, if the Employer would be contributing 80% of a $13,000 premium for family coverage, or $10,400, but now would be contributing 80% of a $5,000 premium for single coverage, or $4,000, the amount of the buy-out would be 40% of $6,400 ($10,400 minus $4,000), or $2,560. The buy-out is subject to applicable taxes.
Amount of Buy-Out. The Town will make available the same Medical Insurance Buy-Out that is is provided to other employees of the Town.
Amount of Buy-Out. The employee will receive forty percent of the Town’s annual premium contribution for the coverage the employee is eligible for (two-person or family).
