Health Insurance Declination Bonus Sample Clauses

Health Insurance Declination Bonus. Employees may opt out of the Village’s health insurance program in whole or in part for a period of a lull year by completing the appropriate form furnished by the Village. To be eligible for this option, the Employee must certify that he/she has health insurance through a source other than the Village. An Employee opting out of the Village’s health insurance program in whole or in part will be paid 25% of the premium savings, provided he/she maintains his/her waiver (remains out) for a full year. Payments will be subject to all usual payroll deductions and will be made on the first Friday in May which is not a payday. Employees electing to waive coverage must do so by filing their forms no later than April 30 in any year (or, if April 30 is a weekend or a Village holiday, then on the last Village business day immediately preceding April 30), with the provisions of this Section taking effect on June 1. Once a waiver form has been filed with the Village, the waiver will continue to be in effect from year to year thereafter until the Employee elects to reenroll; and the Employee will be entitled to the applicable payment for waiver for each full year his/her waiver is in effect.
Sample 1
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Health Insurance Declination Bonus. Employees may opt out of the City's health insurance program in whole or in part for periods o f a full year by completing the appropriate form furnished by the City. In order to be eligible for this option, the employee must certify that the employee has health insurance through another source other than the City. Effective June 29, 2015, for plan years beginning on or after January 1, 2016, to be eligible for the health insurance
Sample 1
Health Insurance Declination Bonus. Employees may opt out o f the Town’s health insurance program in whole or in part (effective for health insurance declinations occurring on or after November 7, 2018, “or in part” will be deleted) for a full year by completing the appropriate form furnished by the Town. An employee opting out of the Town’s health insurance program in whole or in part (effective for health insurance declinations occurring on or after November 7, 2018, “or in part” wall be delete,d) will be paid 50% of the premium savings, provided the employee maintains the employee’s waiver (remains out) for a full year (January 1 to December 31). Payments will be subject to ail usual payroll deductions and will be made on or about December 15 of each year. An Employee who experiences a qualifying event as defined by Internal Revenue Code Section 125 and who has submitted to the Town adequate documentation of that event may enroll in the NYSHIP within the 12-month period, and the Employee will repay, pro-rata, any amount already forwarded to the Employee in return for the waiver, by payroll deduction. Employees electing to waive coverage must do so by filing their forms no later than November 30,h in any year, with the provisions of this section taking effect on the next January 1st. Once a waiver form has been filed with the Town, the waiver will continue to be in effect from year to year thereafter until the employee elects to reenroll, and the employee will be entitled to the applicable payment for waiver for each full year his or her waiver is in effect. Employees will continue to be notified if the application to decline insurance is incomplete or insufficient. It is understood that once an employee has waived coverage for a particular year, the employee may not reinstate coverage for that year except in the event of an emergency causing the loss of insurance through another source and consistent with the rules and regulations o f the Town’s flexible spending plan and applicable laws and regulations, Emergency will include loss of employment or termination of insurance for a spouse whose employer had provided the alternative insurance. Emergency will not include the change of any alternative insurance from a noncontributory to a contributory plan or the voluntary declination of the spouse of insurance offered by the spouse’s employer. Effective November 7, 2018, an “emergency” will be defined as “a qualifying event as defined by Internal Revenue Code Section 125.” An employee may rein...
Sample 1

Related to Health Insurance Declination Bonus

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 18 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 18 months after the date of Executive’s separation from service.

  • Health Insurance Coverage (a) An employee who is laid off or separated from employment on or after July 1, 1994, under circumstances which entitle such employee to reemployment rights under this Article, other than pursuant to Section 23, may elect to continue membership in their health benefit plan, upon advance payment of the regular percentage contribution to the cost of the plan, during the first six

  • Health Insurance Committee The UFF-USF-GAU President will appoint one (1) employee to serve on the University's Student Health Insurance Committee.

  • Workplace Safety Insurance Benefits (WSIB) Top Up Benefits If the employee is in a class of employees that, on August 31, 2012, was entitled to use unused sick leave credits for the purpose of topping up benefits received under the Workplace Safety and Insurance Act, 1997;

  • Health Insurance Plan (Excluding Summer Students Regardless of Wage Schedule Paid From) These employees shall be considered as a group in order that they may apply to participate in the Supplementary Plan and the Extended Health Benefit Plan at group rates. One hundred percent (l00%) of all premiums will be paid by the employees. The Company will pay one hundred percent (l00%) of the Ontario Health Insurance Plan premium for temporary employees who have four months' accumulated service.

  • Retirement Health Insurance Subd. 1. Benefit Eligibility for Employees who Retire Before Age 65

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

  • Health Insurance The Couple agrees that: (check one) ☐ - Each Spouse is responsible for THEIR OWN health insurance. ☐ - Health insurance IS PROVIDED by ☐ Husband ☐ Wife (“Health Insurance Paying Spouse”) to ☐ Husband ☐ Wife (“Health Insurance Receiving Spouse”). Health insurance shall include: (check all that apply) ☐ - Medical ☐ - Dental ☐ - Vision Care ☐ - Other. . To facilitate the use of such coverage for the Health Insurance Receiving Spouse, the Health Insurance Paying Spouse shall cooperate fully and in a timely manner, including, but not limited to, obtaining and providing all necessary insurance cards and claim forms, completing and submitting all necessary documents, and delivering all insurance payments.

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

  • Health insurance premiums If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your IRA to pay for health insurance premiums without incurring the 10 percent early distribution penalty tax. 6)

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