Common use of VEBA Contribution Clause in Contracts

VEBA Contribution. Effective July 1, 2021, full-time employees who elect to enroll in Low Deductible medical insurance coverage (single or family) will receive an annual VEBA contribution of six-hundred dollars ($600). Full-time employees who elect to enroll in HOOP medical insurance coverage (single or family) will receive an annual VEBA contribution of one-thousand-eight-hundred dollars ($1800). The contributions to the VEBA account shall be available to the Employee for payment of Employee medical expenses. In the event of the employee’s death, distribution of these funds are determined by IRS guidelines.

VEBA Contribution. Effective July 1, 20212019, full-time employees who elect to enroll in Low Deductible medical insurance coverage (single or family) will receive an annual VEBA contribution of six-hundred dollars ($600). Full-time employees who elect to enroll in HOOP medical insurance coverage (single or family) will receive an annual VEBA contribution of one-thousand-eight-hundred dollars ($1800). The contributions to the VEBA account shall be available to the Employee for payment of Employee medical expenses. In the event of the employee’s death, distribution of these funds are determined by IRS guidelines.

VEBA Contribution. Effective July 1, 20212023, full-time employees who elect to enroll in Low Deductible medical insurance coverage (single or family) will receive an annual VEBA contribution of six-hundred dollars ($600). Full-time employees who elect to enroll in HOOP medical insurance coverage (single or family) will receive an annual VEBA contribution of one-thousand-eight-hundred dollars ($1800). The contributions to the VEBA account shall be available to the Employee for payment of Employee medical expenses. In the event of the employee’s death, distribution of these funds are determined by IRS guidelines.