Common use of Contribution to Premium Clause in Contracts

Contribution to Premium. The parties understand that in the event the minimum deductible necessary for a medical plan to comply with HSA eligibility is increased beyond the current deductible level in MESSA ABC Plan II, the deductible will automatically adjust to meet the federal minimum requirement. The teacher’s premium contribution will be payroll deducted, in equal amounts from the teacher’s paycheck through a qualified Section 125 Plan, and as such, will not be subject to withholding. The employer’s “qualified Section 125 Plan” shall include any and all of the provisions necessary for pre-tax contributions to teachers’ Health Savings Accounts administered through Health Equity. Teachers may contribute, through payroll deduction and electronic transfer, additional money towards their Health Equity Health Savings Account up to the maximum amounts allowed by Federal law. A full time teacher who elects not to enroll in health insurance coverage shall receive through a qualified IRS Section 125 Salary Reduction Plan the following amount: $191.67/month. A teacher in a position that is .5 FTE or greater but less than a full time load shall receive a monthly premium subsidy from the Board not to exceed the amount determined by multiplying the cost of the current insurance plan (i.e, the full family monthly premium rate plus the deductible contribution paid by the District) times the percentage that equals the teacher’s work load (e.g., 80% of full time, etc). The teacher shall also be eligible for PAK B insurance benefits set forth in Sections B. (life insurance), C. (dental insurance), D. (vision insurance), and G. (long-term disability). Each teacher may elect to have his/her salary reduced by an amount specified by the teacher. The Board shall apply such specified amount to the respective teacher’s health insurance premium salary reduction plan account to be allocated to the health insurance benefits selected by the teacher.