Cadillac Tax. If by 2022, the Cadillac Tax required by the Affordable Care Act is still in effect and will require additional funding of the Renton Employees’ Healthcare Plan, the parties agree to meet and negotiate changes to the plan in such a way as to address the impacts of the Cadillac Tax.
Cadillac Tax. The parties agree to work cooperatively and to negotiate in good faith to avoid the imposition of all taxes, assessments, and/or other fees (hereafter “penalties”) that may result from the implementation of the so-called “Cadillac tax” under the federal Affordable Care Act.
Cadillac Tax. If health insurance premiums reach 90% of the Cadillac tax threshold, the insurance committee must meet to reduce the premium. If the committee cannot agree or refuses to reduce the premium, then the Board of Education and the Association will take the necessary actions to reduce the premium to avoid the tax.
Cadillac Tax. Should the city become responsible for payment of the “Cadillac tax” under the Affordable Care Act, the parties agree that the contract may be opened for negotiation of that item. The contract shall only be opened if it reasonably appears that the city will be subject to an annual tax of $76,000 or greater. This clause shall expire on June 30, 2024.
Cadillac Tax. Notwithstanding anything in this Article to the contrary, if the City receives written projections from the IPBC that the City may be subject in the following plan year to an excise tax for high-cost coverage (also called the “Cadillac Tax”), pursuant to the Patient Protection and Affordable Care Act, the City shall provide such written projections to the
Cadillac Tax. A. In the event that the health benefit plan offered in accordance with this Agreement becomes subject to the excise tax on high cost health plans, the Town shall provide the Union with notice within seven (7) days of the employer becoming aware that the plan may be subject to the tax based on prospective costs exceeding the applicable dollar limit established pursuant to 26 U.S.C. § 49801. The notice will include the prospective costs of the plan(s) and be accompanied by statements from the health insurer, carrier, and/or plan actuary certifying that costs for the ensuing plan year shall exceed the applicable limit. The Employer shall promptly provide the Union with information relevant and necessary to verifying prospective plan costs subject to any restrictions under law.
B. Within thirty (30) days of the notice described in subsection A above, the Town shall provide the Union with plan design change options (increases in co-insurance, co-payments, deductibles, narrower networks, higher out of pocket limits, etc.) accompanied by the cost reduction to the plan associated with each change. The Employer shall obtain estimated plan cost reductions for other plan design options proposed by the Union. The Union shall select from the plan design options offered by the Town plan changes including the options proposed by the Union that will reduce prospective plan costs below the applicable dollar limits. In the event that the Union fails or refuses to select plan changes, the Town may implement a plan change of its choosing that will reduce prospective plan costs below the applicable dollar limits.
C. Fifty percent (50%) of the Town's costs savings resulting from plan design changes shall be used to offset required health care benefit contributions from employees. Upon application of the plan design cost savings, the employee percentage contribution in each year described in Article Ill shall not change, but the Town shall reduce the total amount paid by employees by the amount saved by the Town at each tier level. Any apportionments of payments or amounts owed under this Article shall be made by dividing the number of whole months, left in the period (a resignation on April 14 with a fiscal year ending December 30 has 8 whole months left in the year) divided by 12 multiplied by the amount having been paid (8/12 *$1,000 equals $667 due back to the Town).
Cadillac Tax. In the event the Affordable Care Act or other state or federal legislation would imminently result in a tax upon the health insurance plan provided to the Association Members, the District and the Association agree to immediately declare the Insurance provision of this Agreement open for negotiation. In the event the District and the Association cannot reach an agreement within ninety (90) days that would result in a health care plan that has no tax implications, the District and the Association agree to submit to arbitration as permitted by the terms and conditions of this agreement so as to ensure that the health care plan has no tax implications.
Cadillac Tax. The Borough shall provide the health-care insurance protection currently provided as of the date of the contract, subject to the limitations set forth herein. The Affordable Care Act (ACA) will levy excise taxes for plans over certain statutory thresholds beginning on January 1, 2020. Beginning with the 2020 plan year, and thereafter on an annual basis, the Borough will make any necessary changes to the Borough-sponsored health coverage provided to employees such that the total plan coverage cost is less than or equal to the thresholds set forth in 26 USC Section 49801 in order to avoid excise taxes or fees related to the ACA, as long as the insurance coverage provided is greater than or equal to the current insurance coverage. In the event any taxes, including excise taxes, or fees are levied on the healthcare benefits as mandated by state or Federal legislation and plan changes are not sufficient to avoid such taxes or fees, these taxes or fees shall be the responsibility of and be paid by each employee (in addition to any employee contributions required under Chapter 78). Notwithstanding Section 32 of this Agreement, if, during the term of this Agreement, any excess taxes or fees are unavoidable based on the medical insurance plan provided, either the Union or the Borough may request that the parties meet for the sole purpose of discussing alternative options for changes to medical insurance to avoid excess taxes and fees.
Cadillac Tax. Should the city become responsible for payment of the “Cadillac tax” under the Affordable Care Act, the parties agree that the contract may be opened for negotiation of that item. The contract shall only be opened if it reasonably appears that the city will be subject to an annual tax of $76,000 or greater. This clause shall expire on June 30, 2028.
15.2 The City shall make available a life insurance policy on each employee covered by this Agreement, effective thirty (30) days after his/her date of hire, in an amount equal to two times his/her annual salary with no cap, adjusted on an annual basis. The City shall pay the premium for the life insurance policy.
15.3 In the event of a line of duty death, the City shall continue to provide insurance coverage for the employee’s dependents and pay full cost of same for 90 days beyond the date of death.
15.4 It is further understood and agreed that a difference between an employee or his/her beneficiary and any insurer or processor of claims shall not be subject to the grievance procedure, since the City's sole obligation is to contribute toward the premium cost as hereinabove set forth on behalf of eligible employees.
15.5 Section 125 Plan The City or its designee shall administer a Section 125 Plan pursuant to Section 125 of the Internal Revenue Code at no cost to the employees. The employee may fund participation in this plan by designation of any compensation, including non-salary compensation.
Cadillac Tax. If by July 1, 2019, the Cadillac Tax required by the Affordable Care Act is still in effect and will require additional