– Medical Insurance Buyout Clause Samples
– Medical Insurance Buyout. Bargaining unit members who are enrolled in the ▇▇▇▇▇▇▇▇ CSD C Plan or the ▇▇▇▇▇▇▇▇ CSD Active and Family Plan during the school years between July 1, 2016 and June 30, 2020 may participate in a one-time opt out of the District provided medical insurance coverage. This opt out must occur prior to July 1 of the upcoming school year for which the unit member is eligible. Proof of other coverage will be required. Between July 1, 2016 and June 30, 2020, bargaining unit members who were covered by the District’s medical insurance during the previous school year that choose to opt out of coverage during the entire upcoming school year shall be paid a stipend of $1,000 in June of that school year.
– Medical Insurance Buyout. For an employee not taking medical insurance, on an annual basis the Employer shall pay $2,500.00 on or before September 1st. The amount shall be prorated on a monthly basis not to exceed the annual amount of $2,500.00.
– Medical Insurance Buyout. A full-time employee who is eligible for medical insurance coverage made available through the Town may receive a cash buy-out in lieu of receiving medical insurance benefits. To be eligible for the medical insurance buy-out, the employee must provide documentation of comparable medical insurance coverage in a manner and form to be determined by the Town and sign an appropriate waiver of medical insurance coverage and waiver of liability to the Town. If two employees are married, they must enroll in the same plan (two-person or family) and will not be eligible for this buy- out.