Board Contribution to Major Medical Insurance Sample Clauses

Board Contribution to Major Medical Insurance. Employees who are regularly assigned .50 FTE and who elect to participate in Board-sponsored major medical insurance (“health premium benefits”) of any type (i.e., HMO, PPO, HDHP, etc.) will receive a Board contribution towards the purchase of such insurance coverage. For the 2021 calendar year, the Board contribution will be equal to ninety percent (90%) of the total cost for the Board-sponsored PPO insurance premium for that calendar year. For the calendar year beginning January 1, 2021, if there is an increase in the premium, the increase will be managed as follows: (1) for premium increases up to and including 8% over the prior year’s premium, the Board and the Employees will split the increases equally (i.e., the Employees’ increased contribution shall be limited to a total of 4% per year); (2) for increases exceeding 8% over the prior year, the Board will be responsible for the balance. ● Example: If the insurance premium for the 2021 calendar year is $10,000, the Board will pay $9,000 and the Employee will pay $1,000. If in the 2022 calendar year, the insurance premium increases to $10,900 (9%), the Board pays $9,500 (5%) and the Employee pays $1,400 (4%).
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Board Contribution to Major Medical Insurance. Employees who are regularly assigned .50 FTE and who elect to participate in Board- sponsored major medical insurance (“health premium benefits”) of any type (i.e., HMO, PPO, HDHP… etc.) will receive a Board contribution towards the purchase of such insurance coverage. That Board contribution will be equal to ninety percent (90%) of the total cost for the Board-sponsored PPO insurance premium for the 2017 calendar year at either the single rate or the family rate dependent upon the Employee’s level of coverage elected for that insurance year (i.e., Employee elects single coverage, the Board contribution will be equal to the PPO premium at the single rate). For future contract years, if there is an increase in the premium, the increase will be managed as follows: (1) for premium increases up to and including 8% over the prior year’s premium, the Board and the HHSTA will split the increases equally (i.e., the Board’s increased contribution shall be limited to a total of 4% per year); (2) for increases exceeding 8% over the prior year the Employee will be responsible for the balance.
Sample 1
Board Contribution to Major Medical Insurance. Employees who are regularly assigned .50 FTE and who elect to participate in Board- sponsored major medical insurance (“health premium benefits”) of any type (i.e., HMO, PPO, HDHP, etc.) will receive a Board contribution towards the purchase of such insurance coverage. That Board contribution will be equal to ninety-two percent (92%) of the total cost for the Board-sponsored PPO insurance premium for the 2017 calendar year at either the single rate or the family rate dependent upon the Employee’s level of coverage elected for that insurance year (i.e., Employee elects single coverage, the Board contribution will be equal to the PPO premium at the single rate). For the 2018 calendar year, the Board contribution will be equal to ninety percent (90%) of the total cost for the Board-sponsored PPO insurance premium for that calendar year. For the calendar year beginning January 1, 2019, if there is an increase in the premium, the increase will be managed as follows: (1) for premium increases up to and including 8% over the prior year’s premium, the Board and the Employees will split the increases equally (i.e., the Employees’ increased contribution shall be limited to a total of 4% per year); (2) for increases exceeding 8% over the prior year, the Board will be responsible for the balance.
Sample 1

Related to Board Contribution to Major Medical Insurance

  • Basic Medical Insurance All regular Employees may choose to be covered by the medical plan for which the British Columbia Medical Plan is the licensed carrier. Benefits and premiums shall be in accordance with the existing policy of the plan. The Employer will pay one hundred percent (100%) of the regular premium.

  • Retiree Medical Insurance Retiree insurance coverage is included within each medical plan for all retirees under the age of 65 years, through self-payment. The Employer shall make available an appropriate medical plan for all eligible retirees ages 65 years or older.

  • Medical Insurance Upon termination of employment, the Executive shall be entitled to all COBRA continuation benefits available under the Company's group health plans to similarly situated employees. To the extent permitted under Code Section 409A, during the applicable Payout Period, the Company shall provide such COBRA continuation benefits to the Executive at the active employee rates similarly situated employees must pay for such benefits. Upon the expiration of such Payout Period, the Executive will be responsible for paying the full COBRA premiums for the remaining COBRA continuation period.

  • Trauma Insurance All employees will be covered by an Incolink administered lump sum insurance policy providing financial compensation in the event of a major work related (ie. WorkCover) accident resulting in death or permanent total disablement. The full and precise conditions of this cover will be in accordance with the terms of the policy, but in general will provide that, in the event of a workplace accident occurring which results in either the death or total permanent disablement of a worker covered by this Agreement, a lump sum payment as specified below will made. The defined payments are: With dependants $250,000 Without dependants $150,000 This benefit has been agreed to by the company on the grounds that premium costs have been set at $7 per week/worker and will not exceed that amount. In the event of insurance costs rising, it is agreed that the table of defined benefits will be reduced so as to maintain the $7 premium figure. To maintain this cover the company agrees to pay the amounts every week for each employee.

  • Group Dental Insurance Not available to part-time Station Attendants. Group insurance coverage for temporary full-time employees will be in accordance with XXX #1. Such benefits, once established, are retained even if an employee's status reverts back to part-time, providing that employment has been continuous.

  • Optical Insurance The Employer shall contribute the full composite premium cost for an optical insurance plan policy premium for each SUCCESS employee deemed eligible (e.g. Vision Service Plan). Participation in the optical insurance benefit is voluntary for each eligible SUCCESS employee. In order to qualify for the Employer’s share of the monthly premium, the SUCCESS employee must qualify under the rules and regulations of the respective carrier and may enroll in one of the following plans:

  • Hospital and Medical Insurance The University shall make available health insurance to the employees covered by this agreement to the same extent and in the same manner as is available to other University employees, such as Faculty and the Executive, Administrative and Professional Staff employees. It is the University's goal to have the same health insurance plans offered uniformly to all University groups and employees.

  • Group Insurance 38.01 The Group Insurance Plan presently in effect shall remain in effect during the term of this Agreement.

  • Retiree Insurance 12.1 Employees who retire must meet the following conditions at the time of retirement in order to be eligible for the Employer contributions, listed in Sections 12.2 through 12.5 below, toward a health insurance plan offered by the Employer:

  • ’ Compensation/Employer’s Liability Insurance If Contractor has employees, it shall maintain workers’ compensation insurance as required by law. Employer’s liability limits shall be not less than $1,000,000 for each accident, $1,000,000 as the aggregate disease policy limit, and $1,000,000 as the disease limit for each employee. If Contractor does not have employees, it shall provide a letter, on company letterhead, to the Judicial Council certifying, under penalty of perjury, that it does not have employees. Upon the Judicial Council’s receipt of the letter, Contractor shall not be required to maintain workers’ compensation insurance.

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