Common use of Health Insurance Buy-Out Clause in Contracts

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. (b) In the event that the employee has not been enrolled in a family plan for 24 months but has been continuously receiving health care insurance benefits for the prior 24 month period (either in an individual plan or in a combination of the time in an individual plan and family plan for 24 months continuously) then the buyout will be awarded at the individual rate. (c) An Employee, who meets the criteria above, may exercise the health insurance buyout by submitting an application to the County, any time during the year they elect to terminate County coverage but no later than the open enrollment period designated by the County, within that same calendar year that he/she terminated coverage along with proof of alternative non-County health insurance coverage. The application shall be as prescribed by the County and made available by Risk Management. No award shall be made in the year in which application is made (i.e., coverage is dropped in June of 2016, the buyout will be applicable in the calendar year 2017). (d) Once an Employee has exercised the buyout, it shall remain effective for a designated calendar year unless rescinded as set forth below. (e) Each Employee who exercises the health insurance buyout shall be paid $1,250.00 for an individual plan, and $2,500.00 for a family plan for the health insurance plans available pursuant to this Agreement. (f) Payment shall be made between December 1st and December 15th of the following year for applications made in the current year. If an Employee leaves County employment before December 15th, he shall receive a buyout payment prorated on a monthly basis for the appropriate period. (g) An Employee who has elected the health insurance buyout may rescind that election by presenting written proof of loss of health insurance coverage to the County. The Employee shall be eligible to apply for enrollment in an appropriate health insurance plan subject to the prescribed waiting period and the applicable health insurance contribution rate for that Employee. The Employee shall not be eligible for any buyout payment for that year. (h) Employees who elect this buyout and subsequently retire, shall have their buyout payments prorated on a monthly basis for the current year. Retirees are not eligible for the buyout. As is present practice, an Employee must have been enrolled in a County health insurance plan on the date of retirement to be eligible for Retiree Health Insurance-Article VIII, Section 2.

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. (b) In the event that the employee has not been enrolled in a family plan for 24 twenty-four (24) months but has been continuously receiving health care insurance benefits for the prior 24 twenty- four (24) month period (either in an individual plan or in a combination of the time in an individual plan and family plan for 24 twenty-four (24) months continuously) then the buyout will be awarded rewarded at the individual rate. (c) An Employee, who meets the criteria above, may exercise the health insurance buyout by submitting an application to the County, any time anytime during the year they elect to terminate County coverage but no later than the open enrollment period designated by the County, County within that the same calendar year that he/she terminated coverage coverage, along with proof of alternative non-County health insurance coverage. The application shall be as prescribed by the County and made available by Risk Management. No award shall be made in the year in which application is made (i.e., coverage is dropped in June of 20162019, the buyout will be applicable in the calendar year 20172020). (d) Once an Employee has exercised the buyout, it shall remain effective for a designated calendar year unless rescinded as set forth below. (e) Each Employee who exercises the health insurance buyout shall be paid one thousand two hundred and fifty dollars ($1,250.00 1,250.00) for an individual plan, and two thousand five hundred dollars ($2,500.00 2,500.00) for a family plan for the health insurance plans available pursuant to this Agreement. (f) Payment shall be made between December 1st and December 15th of the following year for applications made in the current year. If an Employee leaves County employment before December 15th, he shall receive a buyout payment prorated pro-rated on a monthly basis for the appropriate period. (g) An Employee who has elected the health insurance buyout may rescind that election by presenting written proof of loss of health insurance coverage to the County. The Employee shall be eligible to apply for enrollment in an appropriate health insurance plan subject to the prescribed waiting period and the applicable health insurance contribution rate for that Employee. The Employee shall not be eligible for any buyout payment for that year. (h) Employees who elect this buyout and subsequently retire, shall have their buyout payments prorated pro- rated on a monthly basis for the current year. Retirees are not eligible for the buyout. As is present practice, an Employee must have been enrolled in a County health insurance plan on the date of retirement to be eligible for Retiree Health Insurance-Insurance- Article VIII, Section 2.