Benefit Dollars Sample Clauses
The 'Benefit Dollars' clause defines the specific monetary amount or allowance provided to an individual, typically within an employee benefits plan, to be used toward eligible benefits or services. This clause outlines how much money is allocated, what types of benefits or expenses the funds can be applied to—such as health insurance premiums, dental care, or wellness programs—and any restrictions or conditions on their use. Its core practical function is to clearly establish the scope and limits of financial support available for benefits, ensuring both parties understand the extent of coverage and reducing potential disputes over benefit entitlements.
Benefit Dollars. The College's contribution to health insurance coverage for the Term of this Agreement shall be equal to 100 percent of the Blue Preferred Plan for Employee, Spouse and Children provided through EHA at the current $750 Deductible Plan, or such other Deductible Plan providing substantially equivalent benefits as the College may from time to time select in its sole discretion. These benefit dollars shall first be used in the selection of health insurance coverage. Each member shall have the option of selecting single coverage, single with children coverage, husband and wife coverage, family coverage or no coverage in the event the Member is covered by a spouse's health insurance plan and can show proof of the coverage. Any remaining benefit dollars after making the health insurance selection can be used as follows:
5.1.1.1 Cafeteria Plan (125 plan) options
Benefit Dollars. The Benefit Dollars available to an Educator will equal the total of (1) the cost of single subscriber, Securian Dental Plan, and (2) the amount toward Anthem Blue Cross/Blue Shield Health Insurance determined under the following provisions:
1. Single or adult with child(ren) coverage: 100% of Choice Plus premium rate. Choice Plus Standard
2. Two Person ▇▇▇▇-▇▇▇▇ ▇▇▇% of Single Rate Dollar Amount equal to Choice Plus Single Rate
3. Full Family ▇▇▇▇-▇▇▇▇ ▇▇▇% of Adult With Dollar Amount Equal Child Rate to Choice Plus Adult with Child Rate
4. Educators, other than those described in Subsection 5 below, who elect not to receive medical insurance, will not receive Benefit Dollars based on medical insurance. (They will, however, receive benefit dollars in an amount equal to the cost of single subscriber, Securian Dental Plan, whether or not they elect to receive dental insurance.)
5. In order to receive Benefit Dollars based on Two Person or Family status under the above, the employee must provide evidence to the Board that his/her spouse/domestic partner is not eligible to receive insurance through his/her employment and must notify the Board of any changes to the spouse’s/domestic partner’s eligibility. The form of such evidence shall be determined by the Board. Any allocation or payment of benefit dollars found to have been improperly made shall be deducted from the employee’s pay according to a mutually agreed schedule that does not extend beyond the end of the contract year. A spouse/domestic partner who is eligible for health insurance benefits through his or her own employer but chooses through a cafeteria plan to apply dollars to other than health insurance benefits is considered eligible for health insurance through his/her employer. An employee whose spouse/domestic partner is self-employed who in turn employs other employees who are entitled to health insurance but has declined for him or herself is considered eligible for health insurance through his/her employer. An employee whose spouse/domestic partner is self-employed and may access insurance through a group insurance provider or trade association is considered eligible for it through his/her employer.
6. Educators who were participating in the Board’s medical insurance program prior to September 1, 1993, and who subsequently elected under the flexible benefits plan to reduce coverage in exchange for a payment equal to one-half (½) of the amount saved by the Board, will receive Benefits Dollars...
Benefit Dollars. The Benefit Dollars available to a Teacher will equal the total of (1) the cost of single subscriber, Securian Dental Plan , and (2) the amount toward Anthem Blue Cross/Blue Shield Health Insurance determined under the following provisions:
1. Single or adult with child(ren) coverage: 100% of Choice Plus premium rate. Choice Plus Standard
2. Two Person to Choice Plus Single Rate
3. Full Family ▇▇▇▇-▇▇▇▇ ▇▇▇% of Adult With Dollar Amount Equal Child Rate to Choice Plus Adult with Child Rate
4. Teachers, other than those described in Subsection 5 below, who elect not to receive medical insurance, will not receive Benefit Dollars based on medical insurance. (They will, however, receive benefit dollars in an amount equal to the cost of single subscriber, Securian Dental Plan, whether or not they elect to receive dental insurance.)
5. Teachers who were participating in the Committee’s medical insurance program prior to September 1, 1993, and who subsequently elected under the flexible benefits plan to reduce coverage in exchange for a payment equal to one-half (½) of the amount saved by the Committee, will receive Benefits Dollars equal to one-half (½) of the amount for which they otherwise would be eligible under the Standard Plan, as set out above.
6. Benefit Dollars shall be prorated for part-time Teachers. Teachers whose workdays are reduced involuntarily shall continue to receive Benefit Dollars at the full-time level.
Benefit Dollars