Health Insurance Buy. Out - Effective 7-1-08, the buyout amount shall be set at $2,750 for those unit members currently receiving the buy-out as of the date of the signing of this Memorandum of Agreement. No others shall become eligible for the buy-out.
Health Insurance Buy out For the 2012-13 school year, employees declining health care coverage shall receive a payment of $7,500 (family) or $2,829 (individual) in lieu of health insurance. Each year thereafter, employees declining health care coverage shall receive a payment of $7,500 (family) or $2,900 (individual) in lieu of health insurance. It is understood that employees hired on or after July 1, 2012 shall not be eligible for a health insurance buy-out payment (other than a CASEBP supplemental plan) if their health insurance is afforded through a spouse or other family member by the district. Employees who wish to change their status during the school year shall be subject to the enrollment restrictions of the carrier and the payment shall be prorated. The payment for the health insurance buy-out shall be made in the last pay period of the school year.
Health Insurance Buy. Outs - Effective July 1, 2004, the multi-level system shall be replaced with a voluntary health insurance buy-out of $2,000.00. Those unit members who are married to a spouse who is also employed by the District shall be entitled to an individual health insurance coverage, if their spouse opts for individual coverage or one family coverage plus a $2,500.00 annual health insurance buy-out payable to the spouse covered as a dependent.
Health Insurance Buy. Out A bargaining unit member who chooses not to enroll in the health insurance plan and Prescription Medicine Plan of the district for the next fiscal year will be compensated, at the rate of $1,000.00 for a single plan, $2,000.00 for a two person, domestic partner plan, and $3,000.00 for a family plan annually as long as they continue this selection. The health insurance buy-out will be paid out, at the end of each open enrollment period during which the district has received the full health insurance savings. If a bargaining unit member must opt into the health insurance program offered by the district, due to a qualifying event during any enrollment period, they will not be eligible to receive any buy-out for that period of the fiscal year. Additionally, bargaining unit members understand and acknowledge that any payment for the health insurance buy-out will be considered as taxable income for the bargaining unit member. Any bargaining unit members receiving a health insurance buyout who intends to participate in the district’s health insurance plan during retirement must notify the District in writing of their intention at least two (2) years prior to their retirement in order to receive health insurance, in retirement, from the district according to Article V, section X-x of this contract. If an emergent event occurs, upon the request of the member, the superintendent reserves the right to approve the waiver of this time requirement for retirement purposes. Such decision by the Superintendent is final and binding, non- grievable, and not subject to any review
