Common use of HEALTH AND INSURANCE BENEFITS Clause in Contracts

HEALTH AND INSURANCE BENEFITS. As of October 31 each year, the actual cost of providing benefits as contained in Article 32.01 shall be calculated as the total premium due and paid to the insurer for the benefits in force by the Union for each member of the bargaining unit for the immediately preceding period of November 01 - October 31. The Union shall ensure that detailed monthly xxxxxxxx are available for the purposed of calculating the premiums required for the coverage in force. The total cost will exclude any amounts required to fund any reserves under the program. The Employer is required to pay no more than an amount equal to fifty percent (50%) of the total actual cost figure as calculated above. In the event the Employer has paid a lump sum amount in excess of fifty percent (50%) of the actual cost, the union shall pay to the Employer by December 31st, a lump sum, equal to the difference between the lump sum paid to the Union and fifty percent (50%) of the actual cost. In the event that fifty percent (50%) of the actual cost exceeds the lump sum paid by the Employer, no additional funds shall be paid by the Employer, to the union for the shortfall.

HEALTH AND INSURANCE BENEFITS. As of October 31 each year, the actual cost of providing benefits as contained in Article 32.01 shall be calculated as the total premium due and paid to the insurer for the benefits in force by the Union for each member of the bargaining unit for the immediately preceding period of November 01 - • October 31. The Union shall ensure that detailed monthly xxxxxxxx are available for the purposed of calculating the premiums required for the coverage in force. The total cost will exclude any amounts required to fund any reserves under the program. The Employer is required to pay no more than an amount equal to fifty percent (50%) of the total actual cost figure as calculated above. In the event the Employer has paid a lump sum amount in excess of fifty percent (50%) of the actual cost, the union shall pay to the Employer by December 31st, a lump sum, equal to the difference between the lump sum paid to the Union and fifty percent (50%) of the actual cost. In the event that fifty percent (50%) of the actual cost exceeds the lump sum paid by the Employer, no additional funds shall be paid by the Employer, to the union for the shortfall.

HEALTH AND INSURANCE BENEFITS. As of October 31 each year, the actual cost of providing benefits as contained in Article 32.01 shall be calculated as the total premium due and paid to the insurer for the benefits in force by the Union for each member of the bargaining unit for the immediately preceding period of November 01 - October 31. The Union shall ensure that detailed monthly xxxxxxxx are available for the purposed of calculating the premiums required for the coverage in force. The total cost will exclude any amounts required to fund any reserves under the program. The Employer is required to pay no more than an amount equal to fifty percent (50%) of the total actual cost figure as calculated above. In the event the Employer has paid a lump sum amount in excess of fifty percent (50%) of 50%)of the actual cost, the union shall pay to the Employer by December 31st, a lump sum, equal to the difference between the lump sum paid to the Union and fifty percent (50%) of the actual cost. In the event that fifty percent (50%) of the actual cost exceeds the lump sum paid by the Employer, no additional funds shall be paid by the Employer, to the union for the shortfall.