Health Insurance Buyout a. Effective January 1, 2015 professionals that are eligible for Health Insurance (except leave of absence replacements that are less that a full school year) who submit satisfactory proof of alternate health insurance coverage, shall have the option of withdrawing from the District’s health insurance plan. Such professional shall execute any District documents required to effect such withdrawal.
Health Insurance Buyout. An administrator who is enrolled in the District's health insurance plan and who has alternate health insurance coverage from an employer other than the District shall have—'the_ option_o.f..withdrawing from or declining participation in such plan and shall execute any and all documents necessary to effectuate such withdrawal or declination. In the event of such, withdrawal or declination the District shall pay to such employee Lansingburgh Administrators Association Contract Page 23. the following sums: Persons in the bargaining unit and who withdraw or decline health insurance before June 1, 2011: an amount equal to the amount they were eligible to receive in the 2010-2011 school year. Persons who join the bargaining unit on or after June 1, 2011 or who withdraw or decline health insurance on or after June 1, 2011: Individual Coverage $2,500; Two-person or Family Coverage $5,000. The buyout will be paid in two equal payments made in January and in June. No buyout payment will be made for declination of dental or vision plans. In the event of a withdrawal other than at the beginning of a school year, the payment shall be pro rated. In the event an administrator who has received the benefit provided by this section leaves District service prior to the end of the school year, he or she shall refund to the District the pro-rata portion of the benefit for the balance of the school year. In the case of such withdrawal or declination the District shall no longer be required to contribute towards the cost of such insurance for the balance of the school year. An administrator, having withdrawn or declined coverage, may rejoin the plan if he or she loses such alternate health insurance coverage (a) in accordance with the rules and regulations of the District's health insurance carrier, and (b) after having repaid to the District the pro-rated portion of sums received attributable to the balance of the school year. An administrator who elects to receive the benefit provided by this section shall continue to be eligible to receive the benefit provided by Section I of Article XII of this Agreement provided he or she is enrolled in the District's health insurance plan on the day prior to retirement. Lansingburgh A dministrators Association Contract Page 24.
Health Insurance Buyout. 1. A full-time GELC member who is entitled to County health insurance benefits shall have the option of receiving compensation in lieu of the Employer’s health care benefits.
Health Insurance Buyout. Unit members who are otherwise insured may voluntarily opt out of the College’s health insurance program and receive a payment of $450 for the year. Eligibility for participation in the buy-out requires submission of the Vassar College Cash-Out Form and proof of alternate coverage by no later than April 1st of the preceding fiscal year. The buyout payment shall increase to $500 effective July 1, 2020, and to $550 effective July 1, 2021. Re-entry into the District’s health insurance program shall be limited to persons who have lost alternative coverage and shall be allowed at any time, subject only to the waiting period, if any, or the health insurance program’s rules and regulations. Upon re-entry, the unit member must refund the pro-rated amount of the buy-out paid for the remaining months of the applicable year.
Health Insurance Buyout. 14.2.1 On or before June 1st of each school year existing unit members and or retirees who desire to opt out of health insurance coverage shall inform in writing, on a form provided by the District, the Director of Finance of their decision. The health insurance coverage would then be discontinued effective July 1st. Effective July 1, 2010, the health insurance buyout paid to employees or retirees shall be $4,000 for 1-24 participants; and $5,000 if there are 25 or more participants. On or before December 1st of each school year existing unit members and or retirees who desire to opt out of health insurance coverage shall inform in writing, on a form provided by the District, the Director of Finance of their decision. The health insurance coverage would then be discontinued effective January 1st. In return for opting out the unit member shall receive a payment of 50% of the full corresponding buyout amount to be paid on or before April 15th by the District. Employees hired after June 1st must notify to Director of Finance of their decision regarding the health insurance option within thirty (30) calendar days of their appointment. For those employees who decide to opt out of the health insurance coverage payment will be calculated on a monthly pro-rata basis. To be entitled to the payment referenced above, the unit member must produce proof of health insurance coverage from another source at the time of application. Re-entry for those unit members or retirees participating in the voluntary buy-out shall be governed by the rules of the health insurance plan(s) provided for in this Agreement. Re- entry shall be conditioned upon such unit member repaying on a pro-rated basis 1/12th of buyout amount for each month remaining in the school year in question.
Health Insurance Buyout. The District shall pay each eligible employee, who elects not to participate in the Health Insurance Plan identified in this Article a fixed sum of money or prorated portion thereof, as follows: The buy-out for those who elect not to participate in the Health Insurance Plan shall be two thousand five hundred dollars ($2,500.00) for the life of the contract. An employee who elects this alternative instead of participating in the Health Insurance Plan shall inform the District in writing by the 15th day preceding the month they intend to participate. An employee who elects this alternative to the Health Insurance Plan shall receive the sum of money, or part thereof, on the last day of September, December, March, and June for those months in which they elected this alternative. An employee who later elects to participate in the Health Insurance Plan shall inform the District in writing by the 15th day preceding the month they intend to participate. Payment of the fixed sum of money, or prorated portion thereof, shall cease upon electing to participate in the Health Insurance Plan. The District reserves the right to restrict the number of times an employee elects to participate in the Health Insurance Plan or this alternative in any one (1) school year.
Health Insurance Buyout. 1. A full-time employee who is insured under another health insurance plan may elect to refuse participation in the Employer’s health insurance plan. Such employee shall receive one-twelfth of 33-1/3 percent of the Employer's savings (but not less than $100) for each month the employee is eligible but does not elect coverage. Payment shall be made the first pay period of the following month.
Health Insurance Buyout. The District will offer the same Health Insurance Buyout outlined in the HTA contract. IT IS AGREED BY AND BETWEEN THE PARTIES THAT ANY PROVISION OF THIS AGREEMENT REQUIRING LEGISLATIVE ACTION TO PERMIT ITS IMPLEMENTATION BY AMENDMENT OF LAW OR BY PROVIDING THE ADDITIONAL FUNDS THEREFOR, SHALL NOT BECOME EFFECTIVE UNTIL THE APPROPRIATE LEGISLATIVE BODY HAS GIVEN APPROVAL. With the exception of salary and wage rates, which shall be retroactive to July 1, 2024, this agreement shall become effective upon ratification and continue through June 30, 2027. For the Union: For the Board of Education: President President
Health Insurance Buyout. If an eligible member of the bargaining unit elects not to participate in any plan of medical and health insurance benefit made available pursuant to Article XI of this agreement, such individual shall be eligible to receive a total payment of $1,500.00 for single coverage per calendar year or $3,000.00 for family coverage per calendar year. All or part of this amount, at the request of the employee may be placed in a pre-tax Section 125A flexible spending account. Election of this buyout must be made between December 1st and December 15th of each year in writing to the Library’s Designee. Payment of buyout will be disbursed in equal one-half (1/2) installments once on a regular payday after January 15th and one-half (1/2) on a regular payday after July 15th of each year by a separate check. Any employee wishing to be reinstated into the Library’s medical and health insurance plan(s) shall be permitted to do so, provided that he/she pay(s) to the Library a pro-rated share of any buyout monies received for the year in which he/she reinstates. This election of health coverage will occur during normal open enrollment periods (currently May and November) except in the case of loss of other health insurance the election will be at the time the loss occurs.
Health Insurance Buyout. In the event an employee chooses to retain medical coverage through the spouse, other employment of the employee, or a private insurance plan, the Employer will provide an annual health insurance buyout of two thousand five hundred dollars ($2,0500.00) whether the employee would have opted for single coverage or family coverage; provided that an employee who opts out of health insurance will retain his or his/her Health Reimbursement Account balance. The employee shall be compensated in the last paycheck of each month with a separate check in the amount of $166.67 208.33 less taxes. The employee shall notify the Employer, in writing, during the Employer’s annual option period and shall provide written verification of medical coverage elsewhere. The employee will have his/her full health insurance benefits restored as a result of death of spouse, a court action requiring him/her to do so, loss of spousal benefit, other employment, or private insurance, or at said time the employee chooses to do so in conjunction with the Employer’s annual option period, the first of the month following his/her election to return to the Employer’s coverage.
