MEDICAL INSURANCE OPT-OUT Sample Clauses

MEDICAL INSURANCE OPT-OUT. If an employee eligible for full medical insurance opt not to take the benefit, will receive:
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MEDICAL INSURANCE OPT-OUT. Any employee who voluntarily wishes to forego coverage by the District may do so annually, provided such employee provides the District proof of alternate health insurance coverage. The individual electing to opt out of his or her medical coverage will be reimbursed $750 per year if single coverage or $1,000 per year if family coverage. If two faculty members are married to each other and have children, the District shall be required to provide family coverage under the foregoing plans to only one of them (i.e., the one designated in a statement signed by both of them). The District will pay the then-current insurance buy out to the other spouse (i.e. the one designated in a statement signed by both spouses.) However, if two faculty members are married to each other and do not have children, neither shall be entitled to a family plan, but each shall be entitled to a single plan. In order to receive this payment, an employee must notify the business office of the District during the annual enrollment period of the plan or at the employee’s date of hire. Payment will be made in the last paycheck of the fiscal year after the employee makes known his/her decision not to participate in the District’s health insurance program. Upon written notification to the business office by the employee to forego health insurance coverage, the District will annually continue to pay the annual payment unless the employee informs the District of his/her desire to participate in the District’s health insurance program. Once the employee makes an election not to participate in the health insurance plan, such employee must remain out of the Plan until July 1st of the next fiscal year provided, however, that if such employee provides proof of a loss of alternate health insurance coverage due to a catastrophic event (such as the loss of the employee’s spouse’s employment) such employee shall be permitted to obtain health insurance subject to the terms of the District’s health insurance plan, and any buy-out payment accruing prior to that employee obtaining such coverage shall be prorated. In the event that the individual has not been in the HMO plan for five (5) years, but has been employed by the District in excess of five (5) years, the individual has the option to remain in the HMO or purchase the Traditional plan. Any employee who returns to the District’s health insurance plan as a result of such a catastrophic event shall pay a portion of the health insurance premium pursuant...
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MEDICAL INSURANCE OPT-OUT. A bargaining unit member who is covered by the District health insurance plan and is willing to discontinue that coverage or a new employee who does not enroll in the District health insurance plan shall receive an annual reimbursement of $4,000, prorated per month. To discontinue coverage, the bargaining unit member must notify the Business Office by the 15th of the month. The effective date of discontinuance for this benefit will be the first of the month following proper notification to the Business Office. Payment of cash in lieu of coverage shall be made at the end of June following the discontinuance period. Any bargaining unit member who discontinues this coverage may enroll/re-enroll in accordance with the policy of the existing health insurance carrier.
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Related to MEDICAL INSURANCE OPT-OUT

  • Medical Insurance Upon termination of employment, the Executive shall be entitled to all COBRA continuation benefits available under the Company's group health plans to similarly situated employees. To the extent permitted under Code Section 409A, during the applicable Payout Period, the Company shall provide such COBRA continuation benefits to the Executive at the active employee rates similarly situated employees must pay for such benefits. Upon the expiration of such Payout Period, the Executive will be responsible for paying the full COBRA premiums for the remaining COBRA continuation period.

  • Optical Insurance The Employer shall contribute the full composite premium cost for an optical insurance plan policy premium for each SUCCESS employee deemed eligible (e.g. Vision Service Plan). Participation in the optical insurance benefit is voluntary for each eligible SUCCESS employee. In order to qualify for the Employer’s share of the monthly premium, the SUCCESS employee must qualify under the rules and regulations of the respective carrier and may enroll in one of the following plans:

  • Basic Medical Insurance All regular Employees may choose to be covered by the medical plan for which the British Columbia Medical Plan is the licensed carrier. Benefits and premiums shall be in accordance with the existing policy of the plan. The Employer will pay one hundred percent (100%) of the regular premium.

  • Medical Insurance for Retirees The University will make available a medical insurance plan for official retirees hired prior to January 1, 2014 in the same manner and on the same basis as applies to all the University’s other official retirees. An official retiree (including early retirees) for purposes of this benefit, will be defined as any regular employee who is employed by the University at the time of retirement, who is vested in a University sponsored retirement plan and whose years of University service and age total a minimum of 75. Coverage for the spouse of the retiree or early retiree is available on the same basis as for other University official retirees. The University retains the right to modify or terminate this plan upon reasonable notice to staff and retirees.

  • Retiree Medical Insurance Retiree insurance coverage is included within each medical plan for all retirees under the age of 65 years, through self-payment. The Employer shall make available an appropriate medical plan for all eligible retirees ages 65 years or older.

  • Group Dental Insurance Not available to part-time Station Attendants. Group insurance coverage for temporary full-time employees will be in accordance with XXX #1. Such benefits, once established, are retained even if an employee's status reverts back to part-time, providing that employment has been continuous.

  • Dental Insurance The State agrees to pay one hundred percent (100%) of the employee premium of a dental insurance program for full-time employees. The benefit levels of this program shall provide one hundred percent (100%) coverage for preventive care and eighty percent (80%) coverage for general service care. The State agrees to provide payroll deduction for dental insurance, provided such arrangements are agreed to by the insurance carrier. Dependent coverage will be available provided there is sufficient employee participation in the dental insurance program. Dependent coverage will be at the employees' expense.

  • Dental Insurance Plan 9.9.1 The College will pay one hundred percent (100%) of the premiums for a dental insurance plan, except as per 9.1.4.1.

  • TOOL INSURANCE 278. The City agrees to indemnify employees covered under this Agreement for the loss or destruction of the employee's tools subject to the following conditions:

  • MEDICAL AND HOSPITAL INSURANCE 14.1 Current practices will prevail for the duration of this Agreement, except that any changes in medical or hospital insurance plans, including the premium payable by employees, applicable to the majority of those employed in the Public Service for whom the Treasury Board is the employer, will during the life of this Agreement be applicable to the employees under this Agreement.

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