Common use of Health Insurance Buyout Clause in Contracts

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. b. Requests to opt out of the district’s health insurance plans must be processed by July 1. The district shall receive notification 30 days in advance of these dates. Professionals with the intent to opt out of the district’s health insurance program must indicate so using the appropriate District form. c. If professionals who are eligible for health insurance opt out according to this provision, the District shall pay to such professional, $2500 per year if covered by insurance other than that provided by the district and $500 per year if insurance is carried by another district employee. The employee must provide proof of alternate coverage. Payment will be made on June 30th. Payment will be prorated for the year should an employee resign from their position or if such election to opt out of the district’s health insurance program became effective after July 1st of a given school year. d. In the event a professional who has elected withdrawal leaves District employment or reenters the plan following a qualifying event before June 30th of any school year, the District will pay a pro-rata portion of the amount specified in letter D (c) of this section on June 30th. A qualifying event will be defined in the same way as it is for COBRA eligibility. e. A professional hired after the start of a school year and choosing to opt out of the District’s health insurance plans will receive a pro-rata portion of the amount specified in letter D (c) of this section on June 30th. f. During any open enrollment, a member who previously elected to participate in the health insurance buyout may opt in to the district’s insurance.

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. b. Requests to opt out of the district’s health insurance plans must be processed by July 1. The district shall receive notification 30 days in advance of these dates. Professionals with the intent to opt out of the district’s health insurance program must indicate so using the appropriate District form. c. If professionals who are eligible for health insurance opt out according to this provision, the District shall pay to such professional, $2500 per year if covered by insurance other than that provided by the district and $500 per year if insurance is carried by another district employee. The employee must provide proof of alternate coverage. Payment will be made on June 30th. Payment will be prorated for the year should an employee resign from their position or if such election to opt out of the district’s health insurance program became effective after July 1st of a given school year. This provision shall sunset on June 30, 2021. For the 2017-2018 school year, should five (5) or more employees that currently receive health insurance from the district forego their district health insurance by January 31, 2018, the District shall pay to professionals, $1250 if covered by insurance other than that provided by the district and $250 if insurance is carried by another district employee. d. In the event a professional who has elected withdrawal leaves District employment or reenters the plan following a qualifying event before June 30th of any school year, the District will pay a pro-rata portion of the amount specified in letter D (c) of this section on June 30th. A qualifying event will be defined in the same way as it is for COBRA eligibility. e. A professional hired after the start of a school year and choosing to opt out of the District’s health insurance plans will receive a pro-rata portion of the amount specified in letter D (c) of this section on June 30th. f. During any open enrollment, a member who previously elected to participate in the health insurance buyout may opt in to the district’s insurance.