Common use of Cash in Lieu of Medical Benefits Clause in Contracts

Cash in Lieu of Medical Benefits. In lieu of subscribing to the Board provided health insurance, an employee who works at least thirty (30) hours a week and at least thirty-eight (38) weeks per year may select the cash in lieu option. Cash option is based on 75% of the single-subscriber Versatile plan. The cash option will be disbursed over twenty- four (24) pay periods. Cash in lieu will not be paid on the 3rd pay of the month. Eligible employees may waive vision and dental coverage and receive cash in lieu of 75% of the single subscriber WMHIP Versatile Plan premium.

Cash in Lieu of Medical Benefits. In lieu of subscribing to the Board provided health insurance, an employee who works at least thirty (30) hours a week and at least thirty-thirty- eight (38) weeks or more per year may select the cash option equal in lieu option. Cash option is based on 75% dollar amount to the “single” subscriber premium rate of the singleSelect Plan, minus the 4% employee contribution, for 2010-subscriber 11 only; and in 2011-12 and 2012-13 the Versatile planPlan. There will be an 8% cap for increased insurance premiums for those opting for the cash in-lieu of benefits. The cash option will be disbursed over twenty- four (24) pay periods. Cash in lieu will not be paid on the 3rd pay of the month. Eligible employees may waive vision and dental coverage and receive cash in lieu of 75% of the single subscriber WMHIP Versatile Plan premium.eighteen