Health Insurance Buy-Out. A. Employees who are so entitled to family plan health insurance coverage through the County and opt to drop that coverage, said employees shall be entitled yearly to $5000.00, subject to proportional calculation in the event the employee makes his/her election other than at the beginning of the County's fiscal year.
Health Insurance Buy-Out. If an employee and the employee’s spouse both work for the Employer, such employee and spouse shall only be eligible to receive benefits from one family health and dental insurance plan. Such provision shall not exclude an employee from the Health Insurance Buy-Out program. An eligible employee may decline the health, dental and vision coverage provided in this Article XV, and instead elects to receive payment of one thousand five hundred dollars ($1,500) for each full calendar year that he or she declines family coverage or six hundred fifty dollars ($650) for each full calendar year that he or she declines individual coverage. An eligible employee who currently participates in the Employer’s Plan may decline health, dental and vision coverage (to be effective on January 1 of the following year) only between November 1 and November 15 of any calendar year. The Employer may, in its sole discretion, grant a request to decline coverage that is made before November 1 or after November 15. After an employee declines such health, dental and vision coverage, the employee will not be eligible to enroll in the Employer’s Plan unless the employee provides satisfactory documentation that the employee no longer has alternate coverage. Under such circumstances, the employee shall be allowed to re-enroll in the Employer’s Plan, subject to the Plan’s enrollment procedures and requirements. When an employee re-enrolls in the Employer’s Plan during the Plan year, the employee shall be eligible to receive (at the end of the calendar year) a pro-rated payment based upon the number of months during the year for which the employee did not receive coverage under the Plan. Less than full-time employees shall also be entitled to this option to be calculated on a pro-rata basis. Upon satisfaction of the conditions set forth below, payment will be made at the end of the calendar year. In order to receive the full payment set forth above, the employee must: (ï) be actively employed by the Employer for the entire calendar year; and (ii) provide satisfactory documentation establishing that the employee was covered under a health insurance plan for the entire calendar year. Such documentation must be provided prior to payment at the end of the year. In addition to the pro-rated payment described above, the Employer shall provide an eligible employee (at the end of the calendar year) with a pro-rated payment for a partial year of declined coverage when such coverage is declined during ...
Health Insurance Buy-Out. (a) An Employee enrolled in a County health insurance plan for the twenty-four (24) months immediately prior to submission of his buy-out application shall be eligible for a health insurance buy-out for the plan category (individual or family coverage) in which he was actually enrolled for those prior twenty-four (24) months as hereinafter set forth. Thereafter an Employee may continue to apply for the buyout if that Employee would otherwise be eligible for health insurance.
Health Insurance Buy-Out. Each year that the teacher elects not to receive any hospital/medical insurance which is offered by the School District, the teacher shall receive a bonus, provided that the teacher provides proof of other coverage. If the teacher purchases subsidized insurance which results in a financial penalty being incurred by the District under the federal Affordable Care Act, the amount of the penalty shall be deducted from the amount of the bonus. For the term of this agreement, the bonus shall be $1,500.
Health Insurance Buy-Out. Upon written request of the employee and subject to the approval of the Board of Education, the Employee may elect not to participate in the District’s health plan. If requested and approved, the Employee shall receive 40% of the cost of the premium minus the employee contribution of 7%. The buy-out shall continue for a period of one year unless an emergency occurs during the year necessitating the Employee’s re- enrollment. Upon re-enrollment, the Employee must return the monies received, if any and must meet the conditions set forth by the insurance plan for re-enrollment.
Health Insurance Buy-Out. 5.3.1 Unit members who are otherwise health insured, may opt-out from coverage in the School District’s plan(s) upon filing written notice for exercising the option, with proof of other health insurance, by June 1st for the period commencing July 1st. Those unit members who are hired after July 1st shall have the option to opt-out from coverage in the School District’s plan(s) within one (1) month of the date of hire.
Health Insurance Buy-Out. Each year, beginning with the 1985-86 school year, unit members who are otherwise health insured may opt-out from coverage in the School District’s plan upon filing written notice of exercising the option, with proof of other health insurance, by:
Health Insurance Buy-Out. Teachers covered under a health insurance plan other than that provided by the District may convert such coverage to salary under the following provisions:
Health Insurance Buy-Out. 1. Any member of the bargaining unit may elect to receive a “cash benefit” instead of health insurance coverage provided for in this Article. The member must elect the cash benefit in writing, which must be submitted to the Superintendent on or before May 15 of each school year for the election to be effective July 1of the subsequent school year. Bargaining unit members appointed on or after July 1 must make the election no later than September 1. No election of the cash benefit will be valid unless accompanied by proof of non-District health insurance coverage.
Health Insurance Buy-Out. 1. On or before June 1st of each school year, existing unit members shall inform the business administrator of their decisions to opt out of the District’s health insurance plan effective July 1st. The opt-out payment shall be: $1,500.00 annually, effective July 1, 2006.
