Harlem Health Plan Opt Out/Cash in Lieu Option Sample Clauses

Harlem Health Plan Opt Out/Cash in Lieu Option. The Harlem School District offers an Opt Out/Cash in Lieu Option to all eligible employees. This option allows eligible employees who have access to other health insurance coverage to waive coverage under the Plan in exchange for an incentive payment. In order to be eligible for the Opt Out/Cash in Lieu incentive payment, the employee must formally waive coverage in writing and also provide the District with documentation verifying coverage through another insurance program. The annual incentive payment for waiving coverage is set forth in the table below. The employee shall be responsible for any required employee IMRF contribution attributable to this incentive payment. Beginning with the 2017 Plan Year, an employee must be eligible for the Plan and make the choice, during the annual open enrollment period, to waive coverage for the subsequent plan year. In order to retain eligibility for the Opt Out/Cash in Lieu incentive option, the employee may not receive coverage under the Plan through a Harlem School District Retiree. If the employee is requesting the Opt Out/Cash in Lieu incentive option for spouse or dependent coverage, plan participation for the spouse or dependents would need to have been established previously. New Employees who are hired and become eligible for the Plan at a time other than the Annual Open Enrollment Period may elect the Opt Out/Cash in Lieu incentive option within thirty (30) days of their first day of eligibility. The sum shall be prorated by the Plan Year quarter. Employees who participate in the Opt Out/Cash in Lieu incentive option are eligible to re-enroll in the Plan during the next annual Open Enrollment Period or within thirty (30) days of experiencing a qualifying event (i.e. change in family status, marriage, birth of a child, death of a family member or divorce). If returning to the Plan mid-year the employee will repay a prorated portion of the Plan in half year increments. Retirees are not eligible for the Opt Out/Cash in Lieu incentive option. Participation in the Opt Out/Cash in Lieu incentive option terminates when the employee is no longer participating in the Plan as an “actively at work” employee. Employee Opt Out/Cash in Lieu Annual Incentive FY 17-19 Employee Only & Current Waivers $ 750 Employee/Spouse $ 1,000 Employee/Child $ 1,000 Employee/Children $ 1,250 Employee/Family $ 1,500