Common use of Insurance Refunds/Rebates Clause in Contracts

Insurance Refunds/Rebates. Any insurance refunds shall first be used to reduce the cost of future insurance premiums. If, for any reason, the district receives a cash refund for group health insurance, the amount of refund shall be distributed to the participating employees (including employees not subject to this agreement) and the board in proportion to the contribution of each. Any payroll deduction or salary reduction amount shall be considered employee contribution. Any amount paid as a defined benefit shall be Board contribution. The employees entitled to a distribution shall be those employees participating in the district plan in the year the refund is actually received by the district.

Insurance Refunds/Rebates. Any insurance refunds shall first be used to reduce the cost of future insurance premiums. If, for any reason, the district District receives a cash refund for group health insurance, the amount of refund shall be distributed to the participating employees (including employees not subject to this agreement) and the board in proportion to the contribution of each. Any payroll deduction or salary reduction amount shall be considered an employee contribution. Any amount paid as a defined benefit shall be a Board contribution. The employees entitled to a distribution shall be those employees participating in the district District plan in the year the refund is actually received by the districtDistrict.