Group Medical Plan. The Employer will pay the lesser of ninety-five (95%) of the full monthly rate for a full-time employee’s coverage under the Employer’s group medical plan as established by the actuary or an amount equal to one hundred five percent (105%) of the monthly rate from the prior year. In no event shall the Board’s contribution be more than ninety-five (95%) of the single rate. For a part-time Employee who is employed to work one-half time but less than full-time, the Employer will pay a portion of the monthly rate for the Employee’s single rate under such plan, based on a percentage of time employed. The amount of time for computation of the Employer’s portion of the rate shall not include any compensation for performing extra assignments as covered in 15.5, 15.6, 15.7, 15.8, 15.9, 15.10, 15.11 and Schedules B and C. The portion, if any, of the single rate of an eligible part-time Employee not paid by the Employer’s contribution, shall be paid by payroll deduction. If the balance in the Trust fund is less than six (6) months of annual spending at any time during a fiscal year, the Insurance Committee shall, by May 1, make changes to the Plan effective at the beginning of the next fiscal year to change benefits or employee payments (co-pays, deductibles, etc.) sufficient to ensure the Trust Fund balance is at or above the six (6) month level by the end of the next fiscal year. If the Insurance Committee’s changes do not keep the Trust Fund balance at or above the six (6) month level by the end of the next fiscal year, each participating employee will pay five percent (5%) of the full monthly rate for a full-time employee’s coverage during the following fiscal year.
Group Medical Plan. During the Term of this Agreement, Employer shall either cause Employee to be included in any Company group medical plan or shall reimburse Employee for the reasonable cost of Employee’s own medical insurance, if applicable, as of the Effective Date of this Agreement. If it is not practical for the Employee to participate in the Company’s group medical plan, for example due to the Employee’s geographical location not being covered by the Company’s group medical plan, the Employee shall be reimbursed for his/her cost of insurance, so long as the cost is reasonable and not materially different. Special consideration is applicable for each Employee who is currently covered by Medicare and cannot participate in the Company’s group medical plan. Such a Medicare-covered Employee shall be reimbursed for the monthly cost of any Medicare Advantage or Medicare Supplement Plan and Medicare approved individual drug plan in which such Employee is enrolled.
Group Medical Plan. (i) The Company agrees to provide the funding required to pay the premium costs of a Group Medical Plan. The Employers’ cost shall not exceed 1% of straight time payroll. In the event premium costs should exceed this figure in the future, the Employee shall be responsible for making up the difference either through a reduction in benefits or through co-payment of premiums. Any such changes will be discussed with the Union prior to making such change.
Group Medical Plan. The Employer will pay into the fund an amount for each individual Employee toward insurance benefits. • For the plan year July 1, 2024 through June 30, 2025, $9,684 ($807 per month). • For the plan year July 1, 2025 through June 30 2026, $10,080 ($840 per month). • For the plan year July 1, 2026 through June 30, 2027, $10,476 ($873 per month). • For the plan year July 1, 2027 through June 30, 2028, $10,896 ($908 per month). For a part-time Employee who is employed to work one-half time but less than full-time, the Employer will pay a portion of the monthly rate for the Employee’s single rate under such plan, based on a percentage of time employed. The amount of time for computation of the Employer’s portion of the rate shall not include any compensation for performing extra assignments as covered in 15.5, 15.6, 15.7, 15.8, 15.9, 15.10, 15.11 and Schedules B and C. The portion, if any, of the single rate of an eligible part-time Employee not paid by the Employer’s contribution, shall be paid by payroll deduction. If the balance in the Trust fund is less than four (4) months of annual spending at any time during a fiscal year, the Insurance Committee shall make changes to the plan benefits and/or participant payments (co-pays, deductibles, etc.) either by May 1 to take effect for the next fiscal year or earlier if such changes are to take effect during a fiscal yea sufficient to ensure the balance is at or above the four (4) month level by the end of the next fiscal year.
Group Medical Plan. According to what is stipulated in number 11.6 of this Chapter, the Secretariat shall issue for the benefit of staff members and recognised dependants, a group medical insurance policy arranged with an insurance company, in accordance with the limits specified in the plan. Likewise, the Secretariat shall issue a group medical insurance policy with international coverage for the benefit of the staff members who must travel on official missions. Both insurance plans shall be negotiated collectively by the Secretariat, seeking to obtain the greatest coverage possible for staff members. Said insurance is mandatory for the staff members of the Secretariat.
Group Medical Plan. Each Transferred Employee who is a participant in Seller's group medical plan (including related plans such as dental plans, and vision or prescription plans), and any covered dependents of such Employee, shall remain covered by such plan pursuant to its terms, through the end of the calendar month in which the Closing Date occurs. Buyer shall establish a substantially similar plan effective as of the first day of the next calendar month, in which Transferred Employees (and their covered dependents) shall be permitted to enroll. Transferred Employees (and their covered dependents) shall be given credit under such plan for any amounts paid during the calendar year under Seller's plan toward Buyer's plan's deductible and out-of-pocket maximum limitations, and time covered under Seller's plan shall be credited as a period of coverage toward any pre-existing condition exclusion contained in Buyer's plan. Seller's plan shall continue to be responsible for payment of any benefit claims that arose on account of medical services provided before the effective date of Buyer's plan or on account of a hospital confinement of a participant or beneficiary that commenced prior to the effective date of Buyer's plan (regardless of the date such claims are submitted). Seller's plan shall continue to be responsible for continuation coverage provided to qualified beneficiaries on account of qualifying events that occur before the effective date of Buyer's plan, even if the qualified beneficiary's election is submitted after such effective date. 15.3.2.
Group Medical Plan. Effective January 1, 2024, employees will be eligible to participate in Wabtec’s group medical benefits plan (“Medical Plan”) on the same terms and conditions as other Wabtec employees, subject to the terms and conditions set forth in the applicable plan documents.
Group Medical Plan. Executive and his covered dependents shall be allowed to continue participation in the Company's group medical plan at active employee rates until Executive's wife attains age 65 if Executive remains a director of DPC during such period. In the event Executive ceases to be a director of DPC, Executive and his covered dependents shall be allowed to continue participation in the Company's group medical plan at the COBRA rate until Executive's wife attains age 65. The foregoing notwithstanding, Company reserves the right to terminate or change health benefits provided under such group medical plan without notice.
Group Medical Plan. No deductible plan providing 100% payment of prescription drugs and additional hospital care. Premiums paid by Company.
Group Medical Plan. The Employer will pay the full monthly rate for a full-time employee’s coverage under the Employer’s group medical plan. In no event shall the Board’s contribution be more than 100% of the single rate. For a part-time Employee who is employed to work one-half time but less than full-time, the Employer will pay a portion of the monthly rate for the Employee’s single rate under such plan, based on a percentage of time employed. The amount of time for computation of the Employer’s portion of the rate shall not include any compensation for performing extra assignments as covered in 15.5, 15.6, 15.7, 15.8, 15.9, 15.10, 15.11 and Schedules B and C. The portion, if any, of the single rate of an eligible part-time Employee not paid by the Employer’s contribution, shall be paid by payroll deduction.
