Common use of Health Fund Study Committee Clause in Contracts

Health Fund Study Committee. The RAB and the Union reaffirm their strong commitment to continue the work of the Health Fund Study Committee to evaluate the Building Service 32BJ Health Fund benefits and operations, with the goal being to recommend to the Trustees ways for the Health Fund to continuously save money on medical, administrative and other costs associated with the Health Fund while maintaining high quality of care for Health Fund participants. The bargaining parties have already accepted the previous recommendations of the Health Fund Study Committee to save the Health Fund at least $70 million per year in costs commencing no later than January 1, 2012 and recommended to the Health Fund Trustees, who acted upon the recommendations, to take all legal action necessary so that (i) such recommended savings measures are implemented by the Health Fund; (ii) the Health Fund reserves do not fall below an amount equivalent to no less than six (6) full months of benefit costs and operating expenses; (iii) such measures shall not thereafter be modified absent unanimous agreement of the Trustees; and (iv) such measures are made with the intent of being permanent and within the purposes of the aforementioned cost savings. The provisions of subsections (ii) through (iv) of the prior sentence shall continue to apply to any new recommended savings measures that are implemented by the Health Fund pursuant to this Section. The Health Fund Study Committee shall meet regularly, and on an ongoing basis, to continue to monitor and review Health Fund expenditures and trends, to evaluate and consider best practices and developments in cost-effective methods of providing quality benefits for the purposes of continuing to ensure that substantial savings are being realized and to recommend any and all appropriate measures to modify or modulate cost-trends, and to make recommendations to the collective bargaining parties and/or Fund Trustees regarding potential actions including, without limitation, for further savings. The Health Fund Study Committee shall be comprised of the President of the RAB and the President of the Union, or their designees, and the RAB and Union shall be represented in equal numbers.

Health Fund Study Committee. The RAB and the Union reaffirm their strong commitment to continue the work of the Health Fund Study Committee to evaluate the Building Service 32BJ Health Fund benefits and operations, with the goal being to recommend to the Trustees ways for the Health Fund to continuously save money on medical, administrative and other costs associated with the Health Fund while maintaining high quality of care for Health Fund participants. The bargaining parties have already accepted the previous recommendations of the Health Fund Study Committee to save the Health Fund at least $70 million per year in costs commencing no later than January 1, 2012 and recommended to the Health Fund Trustees, who acted upon the recommendations, to take all legal action necessary so that (i) such recommended savings measures are implemented by the Health Fund; (ii) the Health Fund reserves do not fall below an amount equivalent to no less than six (6) full months of benefit costs and operating expenses; (iii) such measures shall not thereafter be modified absent unanimous agreement of the Trustees; and (iv) such measures are made with the intent of being permanent and within the purposes of the aforementioned cost savings. The provisions of subsections (ii) through (iv) of the prior sentence shall continue to apply to any new recommended savings measures that are implemented by the Health Fund pursuant to this Section. The Health Fund Study Committee shall meet regularly, and on an ongoing basis, to continue to monitor and review Health Fund expenditures and trends, to evaluate and consider best practices and developments in cost-effective methods of providing quality benefits for the purposes of continuing to ensure that substantial savings are being realized and to recommend any and all appropriate measures to modify or modulate cost-trends, and to make recommendations to the collective bargaining parties and/or Fund Trustees regarding potential actions including, without limitation, for further savings. The Health Fund Study Committee shall be comprised of the President of the RAB and the President of the Union, or their designees, and the RAB and Union shall be represented in equal numbers. Notwithstanding the foregoing, the Health Fund Study Committee will meet regularly once a quarter to review a report from the Health Fund staff of material items of Fund revenues and expenses for the prior six-month period and anything else deemed appropriate by Fund staff. In addition, the Health Fund staff will also notify the Health Fund Study Committee as soon as possible upon the occurrence of any extraordinary event(s) or other information that is reasonably likely to have a material adverse effect on the revenues and/or expenses of the Fund in the future (“Extraordinary Event”), and the Health Fund Study Committee will hold a special meeting shortly after such notification. In advance of any such special meeting (or at any regular quarterly meeting in which an Extraordinary Event is to be reported), the Health Fund Study Committee shall require the Health Fund Benefit Consultant and Fund staff to provide the Committee with such information and projections (including options for measures to be taken to save money on medical and hospital costs and/or changes that can adopted to the Fund’s plan of benefits) as is deemed necessary by the Health Fund Study Committee for such meeting. At such meeting the Health Fund Study Committee shall negotiate as to the appropriate actions, if any, they agree to jointly recommend to the Trustees for adoption to address the circumstances raised by such Extraordinary Event.

Health Fund Study Committee. The RAB and the Union reaffirm their strong commitment to continue the work of the Health Fund Study Committee to evaluate the Building Service 32BJ Health Fund benefits and operations, with the goal being to recommend to the Trustees ways for the Health Fund to continuously save money on medical, administrative and other costs associated with the Health Fund while maintaining high quality of care for Health Fund participants. The bargaining parties have already accepted the previous recommendations of the Health Fund Study Committee to save the Health Fund at least $70 million per year in costs commencing no later than January 1, 2012 and recommended to the Health Fund Trustees, who acted upon the recommendations, to take all legal action necessary so that (i) such recommended savings measures are implemented by the Health Fund; (ii) the Health Fund reserves do not fall below an amount equivalent to no less than six (6) full months of benefit costs and operating expenses; (iii) such measures shall not thereafter be modified absent unanimous agreement of the Trustees; and (iv) such measures are made with the intent of being permanent and within the purposes of the aforementioned cost savings. The provisions of subsections (ii) through (iv) of the prior sentence shall continue to apply to any new recommended savings measures that are implemented by the Health Fund pursuant to this Section. The Health Fund Study Committee shall meet regularly, and on an ongoing basis, to continue to monitor and review Health Fund expenditures and trends, to evaluate and consider best practices and developments in cost-effective methods of providing quality benefits for the purposes of continuing to ensure that substantial savings are being realized and to recommend any and all appropriate measures to modify or modulate cost-trends, and to make recommendations to the collective bargaining parties and/or Fund Trustees regarding potential actions including, without limitation, for further savings. The Health Fund Study Committee shall be comprised of the President of the RAB and the President of the Union, or their designees, and the RAB and Union shall be represented in equal numbers. Notwithstanding the foregoing, the Health Fund Study Committee will meet regularly once a quarter to review a report from the Health Fund staff of material items of Fund revenues and expenses for the prior six-month period and anything else deemed appropriate by Fund staff. In addition, the Health Fund staff will also notify the Health Fund Study Committee as soon as possible upon the occurrence of any extraordinary event s) or other information that is reasonably likely to have a material adverse effect on the revenues and/or expenses of the Fund in the future “Extraordinary Event”), and the Health Fund Study Committee will hold a special meeting shortly after such notification. In advance of any such special meeting or at any regular quarterly meeting in which an Extraordinary Event is to be reported), the Health Fund Study Committee shall require the Health Fund Benefit Consultant and Fund staff to provide the Committee with such information and projections including options for measures to be taken to save money on medical and hospital costs and/or changes that can adopted to the Fund’s plan of benefits) as is deemed necessary by the Health Fund Study Committee for such meeting. At such meeting the Health Fund Study Committee shall negotiate as to the appropriate actions, if any, they agree to jointly recommend to the Trustees for adoption to address the circumstances raised by such Extraordinary Event.