Common use of Premium Cost Sharing Clause in Contracts

Premium Cost Sharing. Employees shall pay the following percentages of the premium cost for the medical and dental plans. Effective Date Medical HDHP Dental September 1, 2024 16% 16% Employees may elect to participate in the PPO plan; however, such employees shall be responsible for the difference in cost between the Board’s costs for the HDHP/HSA plan exclusive of the Board’s contribution toward the deductible and the PPO plan. Should any Federal Statute or Regulation pertaining to §4908I be mandated triggering the imposition of an excise tax with respect to any of the contractually agreed upon insurance plans offered herein, the parties agree to commence mid-term negotiations on the excise tax in accordance with the Employee Negotiation Act, in which the parties agree to open negotiations over an insurance plan(s) that will reduce the cost of the plan(s) to under the excise tax thresholds or reduce the amount of any applicable excise tax and to negotiate over the employee monetary contributions towards the costs of their insurance coverage. The Board shall pay actively employed employees enrolled in the High Deductible Health Plan who are precluded from participating in an HSA, a cash equivalent in the same amount each year that it contributes into the accounts of employees who do qualify for an HSA. The parties acknowledge that the Board’s contribution toward the funding of the HSA is not an element of the underlying insurance plan, but rather relates to the manner in which the deductible shall be funded for actively employed employees. The Board shall have no obligation to fund any portion of the HDHP deductible for retirees or other individuals upon their separation from employment. A. Group Life Insurance coverage of $75,000, per employee.

Premium Cost Sharing. Employees shall pay the following percentages of the premium cost for the medical and dental plans. Effective Date Medical HDHP Dental September 1, 2024 1621% 1621% Employees may elect to participate in the PPO plan; however, such employees shall be responsible for the difference in cost between the Board’s costs for the HDHP/HSA plan exclusive of the Board’s contribution toward the deductible and the PPO plan. Should any Federal Statute or Regulation pertaining to §4908I be mandated triggering the imposition of an excise tax with respect to any of the contractually agreed upon insurance plans offered herein, the parties agree to commence mid-term negotiations on the excise tax in accordance with the Employee Negotiation Act, in which the parties agree to open negotiations over an insurance plan(s) that will reduce the cost of the plan(s) to under the excise tax thresholds or reduce the amount of any applicable excise tax and to negotiate over the employee monetary contributions towards the costs of their insurance coverage. The Board shall pay actively employed employees enrolled in the High Deductible Health Plan who are precluded from participating in an HSA, a cash equivalent in the same amount each year that it contributes into the accounts of employees who do qualify for an HSA. The parties acknowledge that the Board’s contribution toward the funding of the HSA is not an element of the underlying insurance plan, but rather relates to the manner in which the deductible shall be funded for actively employed employees. The Board shall have no obligation to fund any portion of the HDHP deductible for retirees or other individuals upon their separation from employment. A. Group Life Insurance coverage of $75,000, per employee.