Common use of Opt-Out Payment Clause in Contracts

Opt-Out Payment. A. Bargaining unit members eligible for an insurance opt-out payment include all current and new full-time employees who are eligible to enroll in the Board’s health insurance plan. However, if an employee and his spouse are employed by the District, neither the employee nor the spouse shall be eligible for any opt-out payment. B. Each eligible employee must notify the Board Treasurer in writing of his/her intent to opt-out of the Board’s insurance plan by December 20 of each year to receive the full amount of the opt-out payment, if triggered. Each such employee must maintain a copy of the opt-out notice provided to the Treasurer, which copy must show that it was emailed to the Treasurer. To opt-out of the Board’s health insurance plan, the employee must obtain health insurance elsewhere. C. Each eligible member opting out of the Board’s health insurance plan shall be paid the Opt-Out Amount of $1,000, in January following the health insurance plan year in which the member provided advance notice to the Treasurer of the decision to opt-out. D. Any employee who elected to opt-out of the Board’s health insurance plan who involuntarily loses other insurance coverage will be permitted to re- enroll in the Board’s health insurance plan subject to the provisions of the contract with the health insurance carrier. E. The Opt-Out Payment provisions of this Article shall automatically expire on June 30, 2024.

Opt-Out Payment. A. Bargaining unit members eligible for an insurance opt-out payment include all current and new full-time employees who are eligible to enroll in the Board’s health insurance plan. However, if an employee and his spouse are employed by the District, neither the employee nor the spouse shall be eligible for any opt-out payment. B. Each eligible employee must notify the Board Treasurer in writing of his/her intent to opt-out of the Board’s insurance plan by December 20 of each year to receive the full amount of the opt-out payment, if triggered. Each such employee must maintain a copy of the opt-out notice provided to the Treasurer, which copy must show that it was emailed to the Treasurer. To opt-out of the Board’s health insurance plan, the employee must obtain health insurance elsewhere. C. Each eligible member opting out of the Board’s health insurance plan shall be paid the Opt-Out Amount of $1,000, in January following the health insurance plan year in which the member provided advance notice to the Treasurer of the decision to opt-out. D. Any employee who elected to opt-out of the Board’s health insurance plan who involuntarily loses other insurance coverage will be permitted to re- enroll in the Board’s health insurance plan subject to the provisions of the contract with the health insurance carrier. E. The Opt-Out Payment provisions of this Article shall automatically expire on June 30, 20242021.