Waiver of Health Benefits Sample Clauses

Waiver of Health Benefits. An employee who has health benefit coverage through a spouse, civil union partner, or from another source other that the SEHBP or SHBP, who was hired prior to 1/1/2021, and who can demonstrate same to the Business Administrator, may elect to forego all or a portion of his/her health benefit coverage for a full school year and receive a cash payment of twenty five percent (25%) to a maximum of: School Year Maximum Reimbursement 2023-2024 2,000 2024-2025 1,500 2025-2028 1,000 of the premium savings to the Board of Education; one half on January 15 and the other half on July 15 of the following school year. An employee who has health benefit coverage through a spouse, civil union partner, or from another source other than the SEHBP or SHBP, who was hired or eligible for benefits on or after 1/1/2021 and through June 30, 2023 shall be eligible for a maximum waiver payment of 500. Employees hired on or after July 1, 2023 are not eligible for a health benefits waiver from the district. Said payment will not be considered salary, nor will it be considered pensionable. Employees can also forego their dental and/or prescription insurance for a full school year and receive a cash payment of twenty five percent (25%) of the premium savings to the Board on the same schedule as described above. The Board shall establish an IRS Section 125 plan. The individual unit member shall be responsible for any tax liability.
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Waiver of Health Benefits. An employee who has health benefit coverage through a spouse, civil union partner, or from another source other that the SEHBP or SHBP, and who can demonstrate same to the Business Administrator, may elect to forego all or a portion of his/her health benefit coverage for a full school year and receive a cash payment of twenty five percent (25%) to a maximum of $5,000 of the premium savings to the Board of Education; one half on January 15th and the other half on July 15th of the following school year. Said payment will not be considered salary, nor will it be considered pensionable. Employees can also forego their dental and/or prescription insurance for a full school year and receive a cash payment of twenty five percent (25%) of the premium savings to the Board on the same schedule as described above. The Board shall establish an IRS Section 125 plan. The individual unit member shall be responsible for any tax liability.
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Waiver of Health Benefits i. Employees who provide proof of insurance may waive health benefits separate from the opt-out provision above. Employees must elect this option during the open enrollment period or upon experiencing a qualifying event through the submission of the Medical Insurance Waiver statement to the District’s Payroll Department. Employees do not receive financial compensation for electing to waive health benefits.
Sample 1
Waiver of Health Benefits. The District will pay a $1000 stipend once a year to bargaining unit members who choose to waive their medical benefits (does not include dental, vision or life insurance).
Sample 1
Waiver of Health Benefits. An employee who has health benefit coverage through a spouse, civil union partner, or from another source other that the SEHBP or SHBP, who was hired prior to 1/1/2021, and who can demonstrate same to the Business Administrator, may elect to forego all or a portion of his/her health benefit coverage for a full school year and receive a cash payment of twenty five percent (25%) to a maximum of: $5,000 (in the 2020-2021 school year); $4,000 (in the 2021-2022 school year); and, $3,000 (in the 2022-2023 school year) of the premium savings to the Board of Education; one half on January 15th and the other half on July 15th of the following school year. An employee who has health benefit coverage through a spouse, civil union partner, or from another source other than the SEHBP or SHBP, who was hired or eligible for benefits was on or after 1/1/2021 shall be eligible for a maximum waiver payment of $500. Said payment will not be considered salary, nor will it be considered pensionable. Employees can also forego their dental and/or prescription insurance for a full school year and receive a cash payment of twenty five percent (25%) of the premium savings to the Board on the same schedule as described above. The Board shall establish an IRS Section 125 plan. The individual unit member shall be responsible for any tax liability.
Sample 1

Related to Waiver of Health Benefits

  • Continuation of Health Benefits An eligible employee who is on an approved FML Leave shall be entitled to continue participation in health plan coverage (medical, dental, and optical) as follows:

  • Retiree Health Benefits 1. There is currently in effect a retiree health benefit program for retired members of LACERS under LAAC Division 4, Chapter 11. All covered employees who are members of LACERS, regardless of retirement tier, shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits as provided by this program. The retiree health benefit available under this program is a vested benefit for all covered employees who make this contribution, including employees enrolled in LACERS Tier 3.

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

  • Extended Health Benefits The extended health benefits coverage for CUPE and Fire will be amended to include:

  • Workplace Safety Insurance Benefits (WSIB) Top Up Benefits If the employee is in a class of employees that, on August 31, 2012, was entitled to use unused sick leave credits for the purpose of topping up benefits received under the Workplace Safety and Insurance Act, 1997;

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

  • PORTABILITY OF BENEFITS The following benefits are portable:

  • Health & Welfare Benefits Executive shall be eligible to participate in all health and welfare benefits provided generally to other employees of the Company.

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 12 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 12 months after the date of Executive’s separation from service.

  • Limitation on Benefits Notwithstanding anything to the contrary contained in this Agreement, to the extent that any of the payments and benefits provided for under this Agreement or any other agreement or arrangement between the Company and the Executive (collectively, the “Payments”) (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this Section 9(i), would be subject to the excise tax imposed by Section 4999 of the Code, then the Payments shall be payable either (i) in full or (ii) as to such lesser amount which would result in no portion of such Payments being subject to excise tax under Section 4999 of the Code; whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the Executive’s receipt on an after-tax basis, of the greatest amount of benefits under this Agreement, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. Unless the Executive and the Company otherwise agree in writing, any determination required under this Section shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon the Executive and the Company for all purposes. For purposes of making the calculations required by this Section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely in reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Executive shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section. If the limitation set forth in this Section 9(i) is applied to reduce an amount payable to the Executive, and the Internal Revenue Service successfully asserts that, despite the reduction, the Executive has nonetheless received payments which are in excess of the maximum amount that could have been paid to the Executive without being subjected to any excise tax, then, unless it would be unlawful for the Company to make such a loan or similar extension of credit to the Executive, the Executive may repay such excess amount to the Company as though such amount constitutes a loan to the Executive made at the date of payment of such excess amount, bearing interest at 120% of the applicable federal rate (as determined under section 1274(d) of the Code in respect of such loan).

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