Health Insurance Buyout a. Effective January 1, 2015 professionals that are eligible for Health Insurance (except leave of absence replacements that are less that a full school year) who submit satisfactory proof of alternate health insurance coverage, shall have the option of withdrawing from the District’s health insurance plan. Such professional shall execute any District documents required to effect such withdrawal.
Health Insurance Buyout. Employees may opt out of the Employer’s health insurance program in whole or in part for periods of a full year by completing the appropriate form furnished by the Employer. In order to be eligible for this option a member of the bargaining unit must certify that he or she has health insurance through another source other than the Employer. An employee opting out of the Employer’s health insurance program in whole or in part shall be paid 40% of the premium savings, provided he or she maintains his or her waiver (remains out) for a full year. Payments shall be subject to all usual payroll deductions and shall be made on the first Friday in December which is not a payday. Employees electing to waive coverage must do so by filing their forms no later than April 30 in any year, with the provisions of this Section taking effect on July 1. Once a waiver form has been filed with the Employer, the waiver shall continue to be in effect from year to year thereafter until the employee elects to reenroll; and the employee shall be entitled to the applicable payment for waiver for each full year his or her waiver is in effect. It is understood that once an employee has waived coverage for a particular year, he or she may not reinstate coverage for that year except in the event of an emergency causing the loss of insurance through another and consistent with the rules and regulations of the City’s flexible spending plan and applicable regulations. Emergency shall include loss of employment, or termination of insurance for, a spouse whose employer had provided the alternative insurance. Emergency shall not include the change of any such alternative insurance from a non-contributory to a contributory plan, or the voluntary declination of the spouse of insurance offered by the spouse’s employer. Reinstatement of coverage for the succeeding year may be made by notifying the Employer in writing no later than April 30 to be effective the succeeding fiscal year. This deadline shall not apply to emergency reinstatement of insurance as provided for in the above paragraph, but such reinstatement shall be subject to whatever requirements or deadlines are imposed by the Employer’s carrier(s). If reinstatement occurs during a waived year due to emergency, the employee will repay, prorate, any amount already forwarded to him or her in return for the waiver, by payroll deduction. In the event that the IRS or a court of competent jurisdiction finally determines that employees not rece...
Health Insurance Buyout. Unit members who are otherwise insured may voluntarily opt out of the College’s health insurance program and receive a payment of $450 for the year. Eligibility for participation in the buy-out requires submission of the Vassar College Cash-Out Form and proof of alternate coverage by no later than April 1st of the preceding fiscal year. The buyout payment shall increase to $500 effective July 1, 2020, and to $550 effective July 1, 2021. Re-entry into the District’s health insurance program shall be limited to persons who have lost alternative coverage and shall be allowed at any time, subject only to the waiting period, if any, or the health insurance program’s rules and regulations. Upon re-entry, the unit member must refund the pro-rated amount of the buy-out paid for the remaining months of the applicable year.
Health Insurance Buyout. The District shall pay each eligible employee, who elects not to participate in the Health Insurance Plan identified in this Article a fixed sum of money or prorated portion thereof, as follows: The buy-out for those who elect not to participate in the Health Insurance Plan shall be five thousand four hundred dollars ($5,400) for the life of the contract for those eligible unit members hired on or before June 30, 2009. The buy-out for those who elect not to participate in the Health Insurance Plan shall be three thousand dollars ($3,000) for the life of the contract for those eligible unit members hired on or after July 1, 2009. An employee who elects this alternative instead of participating in the Health Insurance Plan shall inform the District in writing by the 15th day preceding the month they intend to participate. An employee who elects this alternative to the Health Insurance Plan shall receive the sum of money, or part thereof, on the last day of September, December, March, and June for those months in which they elected this alternative. A nem p loyeew holaterelectstop articip ateinthe H ealth Xxxx xxxxx Planshall inform the District in writing by the 15lh day preceding the month they intend to participate. Payment of the fixed sum of money, or prorated portion thereof, shall cease upon electing to participate in the Health Insurance Plan. The District reserves the right to restrict the number of times an employee elects to participate in the Health Insurance Plan or this alternative in any one (1) school year.
Health Insurance Buyout. 1. A full-time employee who is insured under another health insurance plan may elect to refuse participation in the Employer’s health insurance plan. Such employee shall receive one-twelfth of 33-1/3 percent of the Employer's savings (but not less than $100) for each month the employee is eligible but does not elect coverage. Payment shall be made the first pay period of the following month.
Health Insurance Buyout. In the event an employee chooses to retain medical coverage through the spouse, other employment of the employee, or a private insurance plan, the Employer will provide an annual health insurance buyout of two thousand five hundred dollars ($2,0500.00) whether the employee would have opted for single coverage or family coverage; provided that an employee who opts out of health insurance will retain his or his/her Health Reimbursement Account balance. The employee shall be compensated in the last paycheck of each month with a separate check in the amount of $166.67 208.33 less taxes. The employee shall notify the Employer, in writing, during the Employer’s annual option period and shall provide written verification of medical coverage elsewhere. The employee will have his/her full health insurance benefits restored as a result of death of spouse, a court action requiring him/her to do so, loss of spousal benefit, other employment, or private insurance, or at said time the employee chooses to do so in conjunction with the Employer’s annual option period, the first of the month following his/her election to return to the Employer’s coverage.
Health Insurance Buyout. A. Upon full compliance with the provision of (B) below, an eligible full-time teacher who does not participate in the health insurance plan of the District shall be eligible to receive a cash payment of $2000 subject to applicable withholdings if the teacher does not participate in the plan for the entire school year. (July 1 - June 30). The amount will be pro-rated for those teachers hired after the year has begun or leaving the employment of the district before the school year ends. In Tinmouth, the amount of said payment shall be $1,500 except for those teachers who were receiving more than $1,500 as of 3/12/12. They shall continue to be paid that higher amount unless they enroll in a District insurance plan; after such enrollment they will no longer be eligible for the higher payment amount when or if they subsequently withdraw from the insurance plan.
Health Insurance Buyout. A. An employee who is eligible for health insurance, but elects not to enroll, and works her/his full contract will be paid one thousand dollars ($1,000), if the employee submits proof of insurance, for the employee and others who the employee expects to claim as tax exemptions, from another source that provides minimum essential insurance coverage (other than in the individual market). A prorated amount will be returned to the District in the event the employee begins to work less than thirty (30) hours a week or through a qualifying event, need to enroll in the District Plan.
Health Insurance Buyout. The district will agree to the following which will go into effect ONLY IF TEN (10) OR MORE EMPLOYEES CURRENTLY ENROLLED IN A DISTRICT HEATLH PLAN OPT OUT OF THE PLAN. Effective July 1, 2003, and annually thereafter, current unit members or new employees who elect not to enroll in any of the District health plans may “opt out” of the plans under the following conditions and circumstances:
Health Insurance Buyout. A. Candidate must demonstrate and maintain adequate coverage with another Health Insurance Program.
