Amount of Buy-Out. The employee will receive forty percent of the Employer’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). For example, if the Employer is contributing 90% of a $14,500 premium for family coverage, the amount of the buy-out would be 40% of $13,050, or $5220. The buy-out is subject to applicable taxes.
Amount of Buy-Out. The employee will receive twenty percent of the Town’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). The buy-out is subject to applicable taxes.
Amount of Buy-Out. The employee will receive forty percent of the Village’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). For example, if the Village is contributing 86% of a $13,000 premium for family coverage, or $11,180, the amount of the buy-out would be 40% of $11,180, or $4472. The buy-out is subject to applicable taxes.
Amount of Buy-Out. If the employee is eligible for individual coverage, the employee will receive thirty percent of the monthly premium for individual coverage. If the employee is eligible for two-person coverage, the employee will receive thirty percent of the monthly premium for two-person coverage. If the employee is eligible for family coverage, the employee will receive thirty percent of the monthly premium for family coverage. The buy-out is subject to applicable taxes.
Amount of Buy-Out. Each year, an eligible employee will receive an amount equal to the annual premium co-payment for the employee’s contribution to the alternate medical insurance plan (excluding dental and vision) multiplied by 1.32 plus one thousand dollars. In no event will the buy-out exceed
Amount of Buy-Out. If the employee is eligible for individual coverage, the employee will receive an amount equivalent to twenty-five percent of the Town’s annual premium contribution for individual coverage under the indemnity plan. If the employee is eligible for family coverage, the employee will receive an amount equivalent to twenty-five percent of the Town’s annual premium contribution for family coverage under the indemnity plan.
Amount of Buy-Out. 1) An employee will be allowed to receive a percentage of the Town contribution as follows: The amount of the medical insurance buyout will be thirty percent of the Town’s annual premium contribution for the medical insurance coverage the employee is eligible for (individual, two-person, or family). For example, if the Town would be contributing 88% of a $13,000 premium for family coverage, or $11,440, the amount of the buy-out would be 30% of the $11,440, or $3432. The medical insurance buy-out is subject to applicable taxes.
2) Or, the employee will be paid for the cost of the alternate coverage plus an incentive as follows: Each year, an eligible employee will receive an amount equal to the annual premium co-payment for the alternate medical insurance plan (excluding dental and vision) multiplied by 1.32 plus one thousand dollars. In no event will the buy-out exceed $10,000 in the total. For example, if the annual premium co- pay for the alternate plan is $2800, the amount of the buy-out would be $2800 X 1.32 = $3696 + $1000 = $4696. The buy-out is subject to applicable taxes. For another example, if there is no annual premium co-pay for the alternate plan, the amount of the buy-out would be $0 X 1.32 = $0 + $1000 = $1000. The buy-out is subject to applicable taxes.
Amount of Buy-Out. The Town will make available the same Medical Insurance Buy-Out that is is provided to other employees of the Town.
Amount of Buy-Out. An employee who opted out of the medical plan prior to September 1, 2008 will receive forty percent of the Employer’s annual premium contribution for the coverage the employee is eligible for (individual, two-person, or family). For example, if the Employer is contributing 80% of a
Amount of Buy-Out. The Town will pay the sum of $1500 for single person coverage, $2500 for two person coverage, and $3500 for family coverage.
