Opt-Out Provision Sample Clauses
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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.
1. In order for an employee to be eligible to elect this cash option, for the health insurance plan as per Section A above, an employee must provide documentation to the Board that he/she is covered under an alternative health insurance plan.
2. All withdrawals shall be for a full year (July 1 through June 30). Written notification of an employee’s intent to elect this withdrawal option must be filed with the Board during the normal re-opener period. Employees may either re-elect the option of withdrawal during each re-opener period or elect to re-enroll in the insurance plan(s) offered by the District. Prior to each re-opener period, the Board’s insurance carrier and/or representative shall hold a meeting with employees considering to elect to withdraw from the District’s insurance plan and shall apprise them of any and all benefits and/or risks involved should the employee elect such waiver.
3. Notwithstanding the above, an employee who has a change in status (e.g., termination of employment, death, separation, divorce, etc.) which causes the employee to lose his alternate health insurance coverage shall be entitled to re-enroll in the health plan during the year provided the employee provides the Board with notice of the change of status with sixty (60) days of the event causing such change. The Board’s obligation for the cash option shall be prorated for the employee subject to a change in status. If the District’s health plan does not accept the employee, the District will find a comparable plan and pay the premium up to the current amount paid for employees in the District’s plan. Additional costs above the current cost incurred will be the responsibility of the employee. The employee will be re-enrolled in the District’s plan at the first permissible d...
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. 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. Eligible employees’ may elect to “Opt Out” of the County provided health/dental/vision coverage and shall receive $250.00 per month.
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. 16.3.1 So long as the District’s insurance benefits practices/providers allow it, bargaining unit members (full-time and part-time) who can prove government or employer provided group coverage from an employer may opt out of $1800 (prorated for part- time bargaining unit members).
Opt-Out Provision. Bargaining unit members who work 20 or more hours per week, and therefore qualify for the Board-sponsored health insurance plan,(if hired before 12/31/2004 they qualify if they work 15 hours or more and if hired after 12/31/2012 they must work 25 hours to qualify) who choose not to enroll in the Board-sponsored health insurance shall be paid $500 if the bargaining unit member qualifies for a family plan or $250 if the bargaining unit member qualifies for a single plan. Such payment shall be made one time per year. This cash, in lieu of insurance coverage option, is not available to bargaining unit members who are receiving retirement benefits through SERS or any other state sponsored retirement plan or those employees whose spouse is employed by the Board and is currently receiving health insurance coverage through a Board- sponsored plan. To be eligible for this opt-out payment, the employee must provide proof of other insurance coverage that is not through the Insurance Marketplace.
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.
a. An employee otherwise entitled to health insurance coverage shall have the option to voluntarily not participate in the health insurance plan 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 according to the chart below. Such cash payment shall be in form of a stipend and shall be paid in two
Opt-Out Provision. 4.1. While the Parties intend that ▇▇▇▇▇▇ 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.
4.2. If either Party or the Mediator-Arbitrator exercises the option to opt out of his acting as mediator and arbitrator, the parties appoint ** as the substitute arbitrator and will continue the arbitration process as set out in this Agreement.
4.3. If either Party or the Mediator-Arbitrator exercise the option to opt out of his acting as mediator and arbitrator, the parties will each provide him with a list of three names of individuals who would be acceptable as the substitute arbitrator. If one name is on both lists, then the Mediator-Arbitrator shall select that person as the substitute arbitrator. If there are no common names on the lists, The Mediator-Arbitrator shall chose one name from the lists as the substitute arbitrator and subject to that person accepting appointment as arbitrator, the arbitration process shall proceed as set out in this Agreement or as modified in conjunction with the substitute arbitrator.
4.4. The Parties deciding to exercise the opt out provision above shall not relieve them from their obligation to continue with the process as set out in this Agreement.
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.