Health Insurance Savings Plan Sample Clauses

Health Insurance Savings Plan. Employees who qualify for and are enrolled in the school district medical hospitalization insurance plan for a minimum of 36 months, and who subsequently voluntarily agree to waive such coverage, or who voluntarily agree to change such coverage from dependent to individual coverage, shall be entitled to participate in the health insurance savings plan. Individuals whose waiver or reduction in coverage is effective on or prior to 2/22/2010 shall receive a health insurance savings credit equivalent to 50% of the reduction in cost effected by the waiver or reduction in coverage for that year. Such health insurance savings credit shall be paid to the employee in equal installments spread over regular paychecks. For each additional year or portion of a year in which the employee continues to waive coverage or maintain reduced coverage, an adjustable amount (which will change each year to reflect the dollar amount equivalent to 50% of the reduction in cost, and will be pro-rated for partial years) will be paid each year as the health insurance savings credit. Individuals whose waiver or reduction in coverage is effective after 2/22/2010 shall receive a health insurance savings credit equivalent to 50% of the reduction in cost effected by the waiver or reduction in coverage for that year. Such health insurance savings credit shall be paid to the employee in equal installments spread over regular paychecks. For each additional year or portion of a year in which the employee continues to waive coverage or maintain reduced coverage, an identical, unchanged amount (pro-rated for partial years) shall be paid each year as the health insurance savings credit. The amount credited will be based upon the dollar amount equivalent to 50% of the reduction in cost at the time of the waiver or reduction in coverage and will remain unchanged over time. Employees may re-enroll in the insurance plan for which they qualify at the regular open enrollment period in any year, or in the instance of a qualifying event as defined in Section 4 below, may do so at any time by giving 30 days notice. Upon such action by the employee, the employee shall no longer be eligible for the health insurance savings credit for the year(s) of re-enrollment. The health insurance savings credit shall be paid on a pro-rata year basis in the instance of qualifying event as defined in Section 4 below. Employees may not re-qualify for the health insurance savings credit until they have completed a minimum of...
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Related to Health Insurance Savings Plan

  • Health Insurance Plan (Excluding Summer Students Regardless of Wage Schedule Paid From) These employees shall be considered as a group in order that they may apply to participate in the Supplementary Plan and the Extended Health Benefit Plan at group rates. One hundred percent (l00%) of all premiums will be paid by the employees. The Company will pay one hundred percent (l00%) of the Ontario Health Insurance Plan premium for temporary employees who have four months' accumulated service.

  • Ontario Health Insurance Plan The parties recognize that the method of funding OHIP has been changed from an individually paid premium to a system funded by an employer paid payroll tax. If the government, at any time in the future, reverts to an individually paid premium for health insurance, the parties agree that the Colleges will resume paying 100% of the billed premium for employees.

  • Retirement Health Insurance Subd. 1. Benefit Eligibility for Employees who Retire Before Age 65

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

  • Health Insurance The Couple agrees that: (check one) ☐ - Each Spouse is responsible for THEIR OWN health insurance. ☐ - Health insurance IS PROVIDED by ☐ Husband ☐ Wife (“Health Insurance Paying Spouse”) to ☐ Husband ☐ Wife (“Health Insurance Receiving Spouse”). Health insurance shall include: (check all that apply) ☐ - Medical ☐ - Dental ☐ - Vision Care ☐ - Other. . To facilitate the use of such coverage for the Health Insurance Receiving Spouse, the Health Insurance Paying Spouse shall cooperate fully and in a timely manner, including, but not limited to, obtaining and providing all necessary insurance cards and claim forms, completing and submitting all necessary documents, and delivering all insurance payments.

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 18 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 18 months after the date of Executive’s separation from service.

  • Group Health Insurance Immediately following retirement, the teacher shall have the option of remaining in the Corporation’s current group health insurance plan if all of the following conditions are met as of the date of retirement and thereafter:

  • RETIREE HEALTH SAVINGS PLAN Effective, December 24, 2006, or as soon as administratively possible, the County shall establish a retiree health savings plan (RHSP) by contributing an amount of $25.00 to the employee’s RHSP each biweekly pay period.

  • Health Insurance Committee The UFF-USF-GAU President will appoint one (1) employee to serve on the University's Student Health Insurance Committee.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.

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