Common use of Election Provisions Clause in Contracts

Election Provisions. In accordance with the terms of proposed Treasury Regulation 1.125-1, Q & A - 15, each Participant shall be considered to have elected medical insurance coverage under the terms of the Employer's medical insurance program for sequential coverage periods of one (1) month each until such time as the Participant elects in writing on the Medical Insurance Waiver Allowance Election Form to receive payments of cash in lieu of medical insurance coverage until the next open enrollment period permitted by the medical insurance carrier under the Employer's insurance program and for subsequent plan years unless the Participant elects coverage under the Employer's insurance program during an open enrollment period.

Election Provisions. In accordance with the terms of proposed Treasury Regulation 1.125-1, Q & A - 15, each Participant shall be considered to have elected medical insurance coverage under the terms of the Employer's medical insurance program for sequential coverage periods of one (1) month each until such time as the Participant elects in writing on the Medical Insurance Waiver Allowance Election Form to receive payments of cash in lieu of medical insurance coverage until the next open enrollment period permitted by the medical health insurance carrier under the Employer's insurance program and for subsequent plan years unless the Participant elects coverage under the Employer's insurance program during an open enrollment period.