Program Benefit Amount. For employees participating in the Cash Back Option Program, the employee will receive cash back equal to fifty percent of the highest single active health benefit premium amount. This shall be allocated to the employee on a monthly basis, prorated for part-time unit members. For employees participating in the Cash Back Option Program, the cafeteria fund defined in Section 1.5 of this Article shall be reduced by the amount of the highest two-party or family HMO premium, as applicable.
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