Common use of Premium Amount Clause in Contracts

Premium Amount. The Board shall pay the following premiums for individual employee’s health and dental insurance for the life of this contract. 1. The premiums paid by the Board shall be to provide employee's elected group health insurance plan (HMO or PPO or Consumer Driven Plans) plus a maximum of $10.80 per month toward dental insurance in accordance with the term and schedule of benefits in effect. The parties agree that the current insurance vendors may be deleted or new vendors added as providers as a result of future RFP health insurance awards. a. The Board agrees to pay 100% of the health insurance premiums for HMO and Consumer Driven coverage for the individual employee for the term of this agreement. b. The Board agrees to implement a straight leveling model for the payment of health insurance premiums. 1. The Board’s contribution for the straight leveling model will be determined by dividing the Board’s estimated cost (as established by responses to RFP’s received from insurance vendors) by the number of all school board employees (excluding dependents) enrolled in one of the Board’s health insurance plans. 2. If the monthly premium cost for health insurance coverage elected by an employee is less than the amount of the School Board’s straight leveling contribution amount, the difference will be deposited into a cafeteria plan for the benefit of that employee. The employee shall be responsible for paying any monthly premium cost above the Board’s straight leveling contribution based upon the coverage selected by the employee. This does not include employees on HMO and Consumer Driven plan(s).

Premium Amount. The Board shall pay the following premiums for individual employee’s employees health and dental insurance for the life of this contract. 1. The premiums paid by the Board shall be to provide employee's ’s elected group health insurance plan (HMO or PPO or Consumer Driven Plans) plus a maximum of $10.80 per month toward dental insurance in accordance with the term and schedule of benefits in effect. The parties agree that the current insurance vendors may be deleted or new vendors added as providers as a result of future RFP health insurance awards. a. The Board agrees to pay 100% of the health insurance premiums for HMO and Consumer Driven Plan coverage for the individual employee for the term of this agreement. b. The Board agrees to implement a straight leveling model for the payment of health insurance premiums. 1. The Board’s contribution for the straight leveling model will be determined by dividing the Board’s estimated cost (as established by responses to RFP’s received from insurance vendors) by the number of all school board employees (excluding dependents) enrolled in one of the Board’s health insurance plans. 2. If the monthly premium cost for health insurance coverage elected by an employee is less than the amount of the School Board’s straight leveling contribution amount, the difference will be deposited into a cafeteria plan for the benefit of that employee. The employee shall be responsible for paying any monthly premium cost above the Board’s straight leveling contribution based upon the coverage selected by the employee. This does not include employees on HMO and Consumer Driven plan(sPlan(s).