Insurance Pools Clause Samples
The Insurance Pools clause establishes a mechanism for grouping multiple parties or risks together to share insurance coverage and costs. In practice, this means that participants contribute to a collective fund or policy, which is then used to cover claims arising from any member of the pool, often resulting in lower premiums and broader coverage than individual policies. The core function of this clause is to distribute risk among several parties, thereby reducing the financial impact on any single participant and promoting more efficient risk management.
Insurance Pools. If the State of Vermont is required by the Vermont Legislature to institute any insurance plan or pool, and the state employees’ health plans are required to participate in such plan or pool, and the plan or pool:
(a) includes a membership larger than the groups currently covered by the state employees’ health plans; or
(b) alters the structure of the state's current health plan offerings or their operating foundations; or
(c) has an impact on plan benefits; or
(d) increases premium rates; the State and VSEA agree to a limited contract reopener for the purpose of negotiating the impacts of such change. Both parties shall retain all statutory impasse rights.
Insurance Pools. If the State of Vermont is required by the Vermont Legislature to institute any insurance plan or pool, pool:
(a) plans; or
(b) alters the structure of the state's current health plan offerings or their operating foundations; or
(c) has an impact on plan benefits; or
(d) increases premium rates; the State and VSEA agree to a limited contract reopener for the purpose of negotiating the impacts of such change. Both parties shall retain all statutory impasse rights.
Insurance Pools. If t he S ▇▇▇▇ of V ermont i s required by t he V ermont Leg islature t o i nstitute any i nsurance pl an or pool, and the state employees’ health plans are required to participate in such plan or pool, and the plan or pool:
(a) includes a membership larger than the groups currently covered by the state employees’ health plans; or
(b) alters the structure of the state's current health plan offerings or their operating foundations; or
(c) has an impact on plan benefits; or
(d) increases premium r ates; t he S ▇▇▇▇ and V SEA ag ▇▇▇ ▇ ▇ ▇ ▇ imited co ntract r eopener f or t he purpose of negotiating the impacts of such change. B oth parties shall retain all statutory impasse rights.