Premium Conversion. As permitted by law, the Employer shall establish a pre-tax medical insurance plan. Each employee who elects coverage under the Employer’s group medical plan shall automatically be considered to have elected participation in the pre-tax medical insurance plan, unless the employee affirmatively elects to receive full compensation.
Premium Conversion. The County shall continue under IRS Code Section 125 to administer a Health Care Premium conversion Plan that allows eligible employees to make their required contributions towards health premiums with pre-tax dollars through payroll deduction. The county will make no contribution to this plan, however, it will bear the cost of administering this benefit.
Premium Conversion. Employees in this Unit authorize the County to make a payroll deduction in the amount of the remainder of the premium required for the CSAC-EIA plans, or other approved County offered medical plan in which the employee and dependents are enrolled. The County Agrees to continue to provide employees with an option to pay their insurance premium contributions on a pre-tax basis, as allowed in the Internal Revenue Code.
Premium Conversion. The Employer agrees to offer premium conversion plans for health, dental, and vision expenditures for insurance premiums and deductibles allowable by law. Premium conversion means that payment of these expenditures can be done on a pre-tax basis.
Premium Conversion. To help minimize your employee contribution for your medical plan, WPS will continue tooffer an IRC (Internal Revenue Code) Section 125 Premium Conversion Plan. This allows you to pay for your employee contribution for the medical coverage on a pre-tax (before tax) basis. As a result, your net take home pay will be higher than if contributions were deducted on a post-tax (after tax) basis. Contributions taken on a pre-tax basis are not subject to federal or state income taxes or FICA taxes. The amount of savings depends onyour individual contribution and tax bracket. Tiers Plan Options Monthly Cost Single CB PPO 100/80% with $150/$300 deductible $168.29 2 Person CB PPO 100/80% with $150/$300 deductible $585.10 Family CB PPO 100/80% with $150/$300 deductible $664.95 Single CB PPO 100/80% with $1,000/$2,000 deductible $85.93 2 Person CB PPO 100/80% with $1,000/$2,000 deductible $387.42 Family CB PPO 100/80% with $1,000/$2,000 deductible $417.86 Single Simply Blue PPO HSA $1,400/$2,800 Plan $0.00 2 Person Simply Blue PPO HSA $1,400/$2,800 Plan $0.00 Family Simply Blue PPO HSA $1,400/$2,800 Plan $0.00 Healthcare Premiums - January 1, 2021 to December 31, 2021 The following chart provides employees with the contributions forthe plans offered this year. Figures listed are subject to change if there isa change to the cost of insurance. Amounts paid by WPS are limited by PA 152; employees are responsible for any amounts above limits set by PA 152. Employee contribution rates effective January 1 , 2021 are: Opt-Out (cash in lieu) Employees who opt out of medical may be eligible for a cash in lieu benefit. Please refer to your collective bargaining agreement for details. Other District Benefits Please note, there is no change to your life and disability benefits provided by the District. For additional information on these benefits, please contact Xxxxx Xxxxxx, Benefits Coordinator, at XxxxxxX@xx.x00.xx.xx or at 000-000-0000. BCBSM Online Access Managing your health plan online has never been easier. With the new member site, you now have access to: One site. One stop. • Personal snapshot of your plan: Check out easy-to-understand graphics that provide a quick snapshot of your deductibles, coinsurance and claims. • Single user ID forlife: Onceregistered,your personalID stays with you, even if you switch plans, change jobs or retire. The power to compare.
Premium Conversion. The County Agrees to continue to provide employees with an option to pay their insurance premium contributions on a pre-tax basis, as provided in the Internal Revenue Code.
Premium Conversion. The City agrees to continue to provide employees with an option to pay their insurance premium contributions on a pre-tax basis, as provided in the Internal Revenue Code.
Premium Conversion. An employee required to pay a portion of the County’s health insurance premium or dental insurance premium may elect to pay the employee share on a pre-tax basis.
Premium Conversion. Article 32 Holidays.............................................
Premium Conversion. Manage documentation, including enrollments and "change in family status" changes to elections, interface with payroll as required.
