Buy Back of Medical, Prescription and/or Dental Benefits Sample Clauses

Buy Back of Medical, Prescription and/or Dental Benefits. 1. Effective July 1, 2003, any Association member eligible for the medical, prescription or dental program may elect to take no such coverage in any of the three programs for one year, subject to required documentation provided to the Board. The Association member shall receive a payment in lieu of coverage as follows: Health SY03-06 Family Coverage $3,000 Single Coverage 1,250 Parent/Child Coverage 2,500 Husband/Wife Coverage 2,500 Prescription 650 Dental 325 Payment shall be made 50% after having not had coverage for six months, and the other 50% after 12 months. Typically these dates would be on or before July 15 and January 15.
Sample 1
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Buy Back of Medical, Prescription and/or Dental Benefits. Employees eligible for the medical, prescription, or dental program may elect to take no such coverage in any of the three programs for one year, subject to required documentation provided to the Board. The employee shall receive a payment in lieu of coverage as follows: Health Family Coverage $3,000 Single Coverage $1,250 Parent/Child Coverage $2,500 Husband/Wife Coverage $2,500 Prescription $650 Dental $325 Payment shall be made 50% after having not had coverage for six months, and the other 50% after 12 months. Typically these dates would be on or before July 15 and January 15. The employee makes the election by completing an Application for Waiver of Insurance Coverage form, available in the business office and due May 30 each year. An employee who elects not to take such coverage in any of the three programs may re-enroll during the open enrollment period (July). Employees may, in certain circumstances, be allowed to re-enter the program(s) at other times subject to carrier determination. These circumstances may include marriage, divorce, death of an employee’s spouse or child, birth or adoption of an employee’s child, the termination of employment of the employee’s spouse, a change in employment status from full-time to part-time (or vice versa) by the employee or the employee’s spouse, the taking of an unpaid leave of absence by either the employee or the employee’s spouse, or a significant change in the employee’s health benefits coverage or the coverage related to the spouse’s employment. If an employee has elected to take no such coverage(s) and dies during the year, a payment shall be made to his/her estate on a prorated amount based upon the time elapsed in the coverage period.
Sample 1

Related to Buy Back of Medical, Prescription and/or Dental Benefits

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • Medical and Dental Benefits If Executive’s employment is subject to a Termination, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical or dental plans of the Company (or an Affiliate) for active employees immediately prior to the Termination Date, then, provided Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Company shall provide Executive and those dependents with coverage equivalent to the coverage in effect immediately prior to the Termination. For a period of twelve (12) months (18 months for a Termination during a Covered Period), Executive shall be required to pay the same amount as Executive would pay if Executive continued in employment with the Company during such period and thereafter Executive shall be responsible for the full cost of such continued coverage; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Company (or an Affiliate) or violate any nondiscrimination requirements then applicable with respect to the applicable plans. The coverages under this Section 4(e) may be procured directly by the Company (or an Affiliate, if appropriate) apart from, and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical or dental plans, and provided, further, that the cost to the Company and its Affiliates shall not exceed the cost for continued COBRA coverage under the Company’s (or an Affiliate’s) plans, as set forth in the immediately preceding sentence. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer with plan benefits that are comparable to Company (or Affiliate) plan benefits, the Company’s and its Affiliates’ obligations under this Section 4(e) shall cease with respect to the eligible Executive and/or dependent. Executive and Executive’s dependents must notify the Company of any subsequent employment and provide information regarding medical and/or dental coverage available.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • Health and Dental Benefits ‌ During the term of this MOU, the City will provide benefits to all half-time employees as defined by Article 4.1 (Part-Time Employment) of this MOU in accordance with the Civilian Modified Flexible Benefits Program (Flex Program) and any modifications thereto as recommended by the Joint Labor-Management Benefits Committee (JLMBC) and approved by the City Council. During the term of this MOU, the City agrees that it will not unilaterally impose a reduction in plan design or benefits for any benefit plan applicable to employees covered by this MOU. Nothing in this MOU, however, shall prevent the parties from jointly reaching agreement on plan design or benefits applicable to employees covered by this MOU. Additionally, nothing in this MOU constitutes a waiver by the Union or the City with respect to making changes to plan design or benefits. If there are any discrepancies between the benefits described in this Article and the Flex Program approved by the JLMBC, the Flex Program benefits will take precedence.

  • DEPENDENT CARE REIMBURSEMENT ACCOUNT During the term of this MOU, Management agrees to maintain a Dependent Care Reimbursement Account (DCRA), qualified under Section 129 of the Internal Revenue Code, for active employees who are members of LACERS, provided that sufficient enrollment is maintained to continue to make the account available. Enrollment in the DCRA is at the discretion of each employee. All contributions into the DCRA and related administrative fees shall be paid by employees who are enrolled in the plan. As a qualified Section 129 Plan, the DCRA shall be administered according to the rules and regulations specified for such plans by the Internal Revenue Service.

  • Dependent Care Salary Reduction Plan The Employer agrees to maintain the current dependent care salary reduction plan that allows eligible employees, covered by this Agreement, the option to participate in a dependent care reimbursement program for work-related dependent care expenses on a pretax basis as permitted by federal tax law or regulation.

  • Educational Benefits a. A full-time employee may enroll for credit at the University for a maximum of two courses, or six credit hours, whichever is greater, in any one academic term with exemption from the payment of tuition and fees.

  • HEALTH AND WELFARE BENEFITS (Article 17 applies to full-time nurses only)

  • Health Care Benefits (a) Each regular full-time employee may elect coverage for himself and his eligible dependents* under one of the following health insurance plans:

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