Opt-Out Provision. 1. The Board agrees to establish a Section 125 (I.R.S. Code) Plan for the purpose of making available a cash option. If an employee selects the cash option, it shall be included in the employee’s gross income as compensation. If an employee selects the insurance coverage, the value of such coverage is excludable in the employee’s gross income as compensation.
Opt-Out Provision. Employees receiving employee only health insurance coverage may exercise their option to opt-out of such health insurance coverage if they have alternative coverage through another source. In such a case, the employee will receive $200 per month. Employees must opt-out prior to the 15th of the month preceding the month on which the opt-out will be effective. The Hospital will establish a Health Insurance Advisory Committee to include two (2) representatives of the bargaining unit. The purpose of the committee will be to review claims experience, utilization and trends in the insurance industry. The committee will be a forum to ask questions, to address concerns and to make recommendations regarding the insurance plan. The committee will meet quarterly.
Opt-Out Provision. An MBU who elects to not participate in the District’s medical coverage shall receive an annual payment of Four Hundred Fifty Dollars ($450.00) in April of the following year. This amount will be prorated for new hires.
Opt-Out Provision. The County will provide a contribution to a VEBA account in the amount of $125 per month (paid on the first two pay periods of the month) for eligible employees that choose to opt out of the County’s medical, dental and vision insurance plans. In order to qualify for the Opt Out contribution, the employee must provide proof that they are covered by another qualified group health plan that meets the minimum value requirements set forth in the Affordable Care Act.
Opt-Out Provision. Nurses receiving “employee only” health 4 insurance coverage may exercise their option to “opt-out” of such health insurance 5 coverage if they have alternative coverage through another source. In such a case, the 6 nurse will receive two hundred dollars ($200) per month. Nurses must opt out prior to 7 the 15th of the month preceding the month on which the opt-out will be effective.
Opt-Out Provision. Full-time school district employees who currently carry medical insurance coverage through the school district or newly hired full-time employees may choose to opt out of the Board medical insurance program and receive an annual stipend of $1,500 to be paid by February 20 following the declining of medical insurance during open enrollment in each policy year (policy year runs from January 1 through December 31). Payment of the opt-out stipend shall be made through payroll with applicable deductions made. Full-time school district employees with a spouse may choose the opt-out provision for the spouse only, and carry a single or employee plus children plan and receive the annual stipend of $1,500. Those employees who work less than a full work day will receive an equivalent percentage of the stipend (example: a teacher who works ½ day would receive $750). The employee who intends to exercise the opt-out provision must notify the District Treasurer prior to the end of the open enrollment period of the applicable year or must notify the District Treasurer within 30 days of employment with the District. In order to be reinstated in the school district plan, one of the following conditions must be met:
Opt-Out Provision. 4.1. While the Parties intend that Xxxxxx shall act as mediator and if necessary, arbitrator of their dispute, each of the Parties and the Mediator-Arbitrator shall have the option at the end of the meditation phase to opt out of him continuing on as arbitrator.
Opt-Out Provision. Employees who are eligible to be covered by insurance through their spouse’s employer, or elsewhere, may opt-out of the City’s health and prescription drug insurance and receive $250.00 per month in lieu of coverage. If such an election is made and the employee’s eligibility for the alternative coverage ceases for any qualifying reason, the employee and their eligible dependents may immediately re-enroll into the City’s health insurance plan then available. The opt-out payment will be made in arrears on the first payroll of each month. An employee may receive the monthly opt-out payment as a taxable, cash benefit, or they may elect to deposit the payment into their deferred compensation account. The opt-out payment shall not be considered as income for fringe benefit purposes (including, but not limited to, pension contributions, computation of final average compensation, or determination of salary for life insurance). Effective January 1, 2019, employees who are eligible to be covered by insurance through their spouse’s employer, or elsewhere, may opt-out of the City’s health and prescription drug insurance and receive an amount equivalent to the premium sharing amount that would apply for the level of coverage being waived. In the event an employee electing to opt-out is covered by insurance through the City of Trenton, either as a spouse or dependent, the opt-out rate for single coverage shall apply.
Opt-Out Provision. An employee otherwise entitled to health insurance coverage shall have the option to voluntarily not participate in any or all such plans, including Prescription and Dental and withdraw from any such coverage. IT is understood that the decision to exercise this option rests solely with the employee. In the event an employee makes such election, the Board shall compensate such employee fifty percent (50 %) of the yearly premium cost for the plan(s) under which the employee would have been covered. Such cash payment shall be in form of a stipend and shall be paid in two (2) equal installments, the first on December 1st and the second on June 30th of the school year in which the non-participation occurs.
Opt-Out Provision. YOU SHALL HAVE THE RIGHT TO OPT OUT OF THIS ARBITRATION AGREEMENT AND CLASS ACTION WAIVER BY PROVIDING WRITTEN NOTICE OF YOUR INTENTION TO DO SO TO US WITHIN THIRTY (30) DAYS OF THE PURCHASE OF THIS AGREEMENT (THE DATE OF PURCHASE BEING INDICATED ON YOUR SALES ORDER AND RECEIPT FROM THE SELLING RETAILER). To
