Common use of Waiver of Insurance Clause in Contracts

Waiver of Insurance. Any member of the bargaining unit who is eligible for health insurance benefits may elect to withdraw from the insurance program. The insurance program is defined as Hospitalization, Major Medical, Prescription, Dental, and Vision. Opting Out of Health Insurance An employee may elect to “opt-out” of the Board-provided hospitalization and major medical insurance coverage. An employee who elects to opt-out shall be compensated as follows: • An employee whose spouse is also an Akron Public Schools employee, and is eligible for group health benefits as provided by the Board, is not eligible to participate in the “opt-out” program and shall not be eligible for any “opt-out.” • An employee who can show proof of other insurance coverage may elect not to participate in coverage as offered by the Board insurance. The employee shall be compensated in the amount of $2,500.00, less appropriate tax deductions, per year at the end of an entire year for which he/she did not have coverage. • Employees may elect to opt-out of the Board-provided coverage during an approved open enrollment period and/or within thirty (30) days of eligibility for group health benefit coverage and/or within thirty (30) days from a qualifying life event (i.e. marriage, loss of coverage from another source)(loss of coverage from the other source). It shall be the responsibility of the employee to notify the Insurance Office in writing during the annual Open Enrollment Period for Insurance Coverage (currently October) of the desire to withdraw from the insurance program for the next enrollment year. Payment shall be made to the employee in a separate check at the end of the year of non- participation. However, if employment is severed prior to the end of the year of non- participation, or if re-enrollment occurs per the provision stated above, the employer will pro-rate the amount of the stipend to reflect the number of months of non-participation.

Waiver of Insurance. Any member of the bargaining unit who is eligible for health insurance benefits may elect to withdraw from the insurance program. The insurance program is defined as Hospitalization, Major Medical, Prescription, Dental, and VisionVision Insurance. Opting Out of Health Insurance An employee may elect to “opt-out” of the Board-provided hospitalization and major medical insurance coverage. An employee who elects to opt-out shall be compensated as follows: • An employee whose spouse is also an Akron Public Schools employee, and is eligible for group health benefits as provided by the Board, is not eligible to participate in the “opt-out” program and shall not be eligible for any “opt-out.” • An employee who can show proof of other insurance coverage may elect not to participate in coverage as offered by the Board insurance. The employee shall be compensated in the amount of $2,500.00, less appropriate tax deductions, per year at the end of an entire year for which he/she did not have coverage. • Employees may elect to opt-out of the Board-provided coverage during an approved open enrollment period and/or within thirty (30) days of eligibility for group health benefit coverage and/or within thirty (30) days from a qualifying life event (i.e. marriage, loss of coverage from another source)(loss of coverage from the other source). It shall be the responsibility of the employee to notify the Insurance Office in writing during the annual Open Enrollment Period for Insurance Coverage (currently October) of the desire to withdraw from the insurance program for the next enrollment year. Payment shall be made to the employee in a separate check at the end of the year of non- participation. However, if employment is severed prior to the end of the year of non- participation, or if re-enrollment occurs per the provision stated above, the employer will pro-rate the amount of the stipend to reflect the number of months of non-participation.