Contribution Formula Health Coverage Clause Samples
The Contribution Formula - Health Coverage clause defines how the costs of health insurance premiums are divided between an employer and its employees. Typically, this clause specifies the percentage or fixed amount that each party is responsible for, and may outline different contribution levels based on employee classification or coverage type, such as individual versus family plans. Its core practical function is to ensure transparency and predictability in health benefit costs, helping both employers and employees understand their financial obligations and budget accordingly.
Contribution Formula Health Coverage a. Faculty Member Coverage. For faculty member health coverage for the 2018 2022 and 2019 2023 plan years, the Employer contributes an amount equal to ninety-five percent (95%) of the employee- only premium of the Minnesota Advantage Health Plan (Advantage).
Contribution Formula Health Coverage a. ASF Member Coverage. For employee health coverage for the 2020 2022 and 2021 2023 plan years, the Employer contributes an amount equal to ninety-five percent (95%) of the employee-only premium of the Minnesota Advantage Health Plan (Advantage).
Contribution Formula Health Coverage a. ASF Member Coverage. For plan year beginning on January 1, 2014, Ffor ASF Member health coverage, the Employer contributes an amount equal to one hundred (100) percent of the ASF Member premium of the Minnesota Advantage Health Plan (Advantage). Beginning on January 1, 2015, for employee health coverage, the Employer contributes an amount equal to ninety-five percent (95%) of the employee-only premium of the Minnesota Advantage Health Plan (Advantage).
Contribution Formula Health Coverage a. Faculty Member Coverage. For plan year beginning on January 1, 2014, for faculty member health coverage, the Employer contributes an amount equal to one hundred percent (100%) of the faculty member premium of the Minnesota Advantage Health Plan (Advantage). Beginning on January 1, 2015, for faculty member health coverage, the Employer contributes an amount equal to ninety-five percent (95%) of the employee-only premium of the Minnesota Advantage Health Plan (Advantage).
Contribution Formula Health Coverage