Common use of Waiver of Benefits Clause in Contracts

Waiver of Benefits. a. For each plan year (January 1 – December 31) in which an eligible employee does not participate in any of the insurance coverages (medical/Rx, dental and vision), that employee shall receive the sum of one thousand dollars ($1,000) if the employee is waiving single coverage and two thousand dollars ($2,000) if the employee is waiving family coverage. This waiver program is not available to an employee whose spouse also is employed by the Board and enrolled in the insurance coverages.