Elect Plan Clause Samples
The 'Elect Plan' clause establishes the right or obligation for a party to choose from among different available plans or options, typically within the context of a contract or agreement. In practice, this clause may specify the process by which a party must notify the other of their selected plan, set deadlines for making the election, and outline any consequences of failing to make a timely choice. Its core function is to provide flexibility and clarity by allowing parties to tailor certain terms of the agreement to their specific needs or preferences, thereby reducing ambiguity and potential disputes over which plan applies.
Elect Plan. The lesser of the Employer’s contribution for the Choice Passport Plan for 2018; or the actual cost of the Elect Plan premium. Employees shall be responsible for the difference between the monthly premium and the Employer’s monthly contribution. Based on a 0.3% premium increase for the Choice Passport Plan, this results in the following Employer contributions:
Elect Plan. The lesser of the Employer’s contribution for the Choice Passport Plan for 2020; or the actual cost of the Elect Plan premium. Employees shall be responsible for the difference between the monthly premium and the Employer’s monthly contribution. Based on a 6.0% premium increase for the Choice Passport Plan, this results in the following Employer contributions: Employee share: $0.00/month. Employee share: $86.98/month.
Elect Plan. The lesser of the Employer’s contribution for the Choice Passport Plan for 2020; or the actual cost of the Elect Plan premium. Employees shall be responsible for the difference between the monthly premium and the Employer’s monthly contribution. Based on a 6.0% premium increase for the Choice Passport Plan, this results in the following Employer contributions: $75 per month in a VEBA for completion of 2019 Wellness Program). Employee share: $0.00/month. $75 per month in a VEBA for completion of 2019 Wellness Program). Employee share: $86.98/month.