Employee Premium Payment Sample Clauses
Employee Premium Payment. 1. Full-time employees Anything herein to the contrary notwithstanding, employees shall have a choice among the following insurance plans for their health insurance coverage:
i) the new Oxford EPO Plan,
ii) the new Oxford CORE Plan, or
iii) the current HIP Plan Employees shall make health insurance contributions for the Oxford Health Plans and HIP Plan or any substitute plan providing substantially similar coverage as follows:
a) Employees with an annual salary of less than $30,000 shall make the following contributions toward the annual premium cost for employee only, employee +1, and family coverage, whichever is applicable: HIP 4% Oxford EPO 6% Oxford CORE 8%
b) Employees with an annual salary of $30,000 or more shall pay the following contributions toward the annual premium cost for employee only, employee +1, and family coverage, whichever is applicable: HIP 5% Oxford EPO 7% Oxford CORE 9%
c) Should health insurance premiums increase in excess of twenty percent (20%) in one year, the aforesaid employee contributions shall not be applicable to the amount of the premium increase above said twenty percent (20%). There shall be a one time payment of $450 for employees currently enrolled in Oxford Health Plans for individual coverage who upon ratification of the Collective Bargaining Agreement (CBA) elect to move their coverage from Oxford Health Plans to the HIP Plan, and a one time payment of $750 for employees currently enrolled in Oxford Health Plans for employee +1 and family coverage who elect upon ratification of the CBA to move their coverage from Oxford Health Plans to the HIP Plan. This will be payable in two installments on July 31, 2008 and January 31, 2009, respectively, to then active employees.
2. Part-time Employees Employees with less than five (5) years of continuous service who regularly work at least 17.5 hours and up to and including 21 hours per week shall contribute 15% of the premium for individual coverage and 20% of the premium for family coverage. Those employees working more than 21 hours and up to and including 28 hours per week shall contribute 10% of the premium for individual coverage and 15% of the premium for family coverage. Those employees working more than 28 hours but less than 35 hours (or 40 hours in the case of Residential Employees) per week shall contribute 5% of the premium for individual coverage and 8.5% of the premium for family coverage. This paragraph does not modify the employee premium contribution contain...