Buyback. Any member who has coverage or is eligible for coverage under another health insurance plan may elect to waive the Town health plan and receive an annual payment equal to Three Thousand Dollars ($3,000.00). Payments will be pro-rated over bi-weekly pay periods throughout the fiscal year. Any member may elect to waive the Town dental plan and receive an annual payment equal to Two- Hundred Fifty Dollars ($250.00). Payments will be pro-rated over bi-weekly pay periods throughout the fiscal year. Members electing to participate in either the health and/or the dental buyback program shall deliver a signed, witnessed waiver form to the Personnel Office prior to each June 15th. In the event that a member who has elected to drop the health and/or dental coverage as provided above, decides to reinstate either or both coverages, the following shall apply:
Appears in 3 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Buyback. Any member who has coverage or is eligible for coverage under another health insurance plan may elect to waive the Town health plan and receive an annual payment equal to Three Thousand Dollars ($3,000.003,000). Payments will be pro-rated over bi-weekly pay periods throughout the fiscal year. Any member may elect to waive the Town dental plan and receive an annual payment equal to Two- Hundred Fifty Dollars ($250.00250). Payments will be pro-rated over bi-weekly pay periods throughout the fiscal year. Members electing to participate in either the health and/or the dental buyback program shall deliver a signed, witnessed waiver form to the Personnel Office prior to each June 15th. In the event that a member who has elected to drop the health and/or dental coverage as provided above, decides to reinstate either or both coverages, the following shall apply:
Appears in 1 contract
Samples: Collective Bargaining Agreement
