Common use of HEALTH BENEFIT OPTION Clause in Contracts

HEALTH BENEFIT OPTION. 1. Effective July 1, 2006, each employee may elect not to participate in the District’s insurance plans and will receive the following cash payments in lieu of coverage: Family Single Hospitalization and Major Medical $1,380.00 $530.00 Vision 20.00 20.00 Dental 120.00 120.00 Total $1,520.00 $670.00 a. Employees must make the decision to opt out of coverage during the annual hospitalization enrollment period of September, and provide proof of other coverage along with their opt-out notice. b. Payment will be made on the first pay in November following the enrollment period, and will be passed through the district’s Section 125 Plan, following verification of the appropriate legal steps required under said plan. c. The following deductions will be made from the cash payment: and Medicare (if applicable). d. Should an employee have, under the terms of the insurance plan, a legal status change during the year (12 months), or if the coverage obtained elsewhere is terminated, the employee will have the needed benefits reinstated by making written notification to the Treasurer of the District. The cash payment will be prorated and the employee will have to reimburse the board for any overpayment (gross amount).

HEALTH BENEFIT OPTION. 1. Effective July 1, 2006, each eligible employee may elect not to participate in the District’s insurance plans and will receive the following cash payments in lieu of coverage: Family Single Hospitalization and Major Medical $1,380.00 $530.00 Vision 20.00 20.00 Dental 120.00 120.00 Total $1,520.00 $670.00 a. Employees must make the decision to opt out of coverage during the annual hospitalization enrollment period of September, and provide proof of other coverage along with their opt-out notice. b. Payment will be made on the first pay in November following the enrollment period, and will be passed through the district’s Section 125 Plan, following verification of the appropriate legal steps required under said plan. c. The following deductions will be made from the cash payment: and Medicare (if applicable). d. Should an employee have, under the terms of the insurance plan, a legal status change during the year (12 months), or if the coverage obtained elsewhere is terminated, the employee will have the needed benefits reinstated by making written notification to the Treasurer of the District. The cash payment will be prorated and the employee will have to reimburse the board for any overpayment (gross amount).