Common use of Level of Benefit Clause in Contracts

Level of Benefit. During the term of this agreement, the level of benefit of the University’s medical, prescription drug, dental and vision plans shall be maintained at a cumulative value of not less than ninety percent (90%) of the cumulative value of those plans as of July 1, 2014. The cost of these plans will be determined by the University prior to the start of each plan year based on the premiums for fully insured plans (or for self-insured plans rates equivalent to fully insured rates, e.g. COBRA rates) if available, the claims experience of each plan, enrollment, and fixed costs during the most recent 12 month period and projected forward with generally- accepted health care inflation assumptions to the next benefit plan year. The University will determine the plan design and resulting level of benefit of its various health plan offerings (medical, prescription drug, dental and vision plans) for each plan year. Prior to determining the amount, allocation and differentiation of employee premium contributions and changes in plan design and level of benefit of its various health plan offerings (medical, prescription drug, dental and vision plans), the University will confer with and consider the recommendations of the labor-management healthcare committee.

Level of Benefit. During the term of this agreement, the level of benefit of the University’s medical, prescription drug, dental and vision plans shall be maintained at a cumulative value of not less than ninety percent (90%) of the cumulative value of those plans as of July 1, 2014. The cost of these plans will be determined by the University prior to the start of each plan year based on the premiums for fully insured plans (or for self-insured plans rates equivalent to fully insured rates, e.g. COBRA rates) if available, the claims experience of each plan, enrollment, and fixed costs during the most recent 12 12-month period and projected forward with generally- accepted health care inflation assumptions to the next benefit plan year. The University will determine the plan design and resulting level of benefit of its various health plan offerings (medical, prescription drug, dental and vision plans) for each plan year. Prior to determining the amount, allocation and differentiation of employee premium contributions and changes in plan design and level of benefit of its various health plan offerings (medical, prescription drug, dental and vision plans), the University will confer with and consider the recommendations of the labor-management healthcare committee.