Common use of Health Insurance for Retirees Clause in Contracts

Health Insurance for Retirees. 3.1 Through CalPERS the District agrees to provide qualifying unit members upon retirement at age sixty-five (65) with eligibility to participate in the CalPERS benefits program at CalPERS Retiree Supplement Rates. Said retirees will receive the district-paid minimum benefit provided for health insurance for all employees, active and retired. The minimum amount shall be established by CalPERS. In addition, a retiree whose eligibility status qualifies him or her for district-paid, lifetime retiree benefits shall receive a taxable service credit equal to the highest single active premium for HMO coverage minus the minimum benefit amount established by CalPERS. The total dollar obligation of the District, each year, to provide the benefits specified in the paragraph immediately above shall not exceed 0.88% (0.0088) of the prior year’s total revenue limit sources income. In any year in which the cost of the health benefits for retirees age sixty-five (65) and older as specified in the paragraph immediately above exceeds 0.88% (0.0088) of the prior year’s total revenue limit sources income, retirees sixty-five and older as specified in the paragraph immediately above shall contribute a pro-rata amount based upon the level of premiums paid on their behalf by the District, in order to make up the difference between cost and income. The 0.88% (0.0088) revenue limit cap on post-65 lifetime retiree benefits shall only be applied to those individuals receiving a Sequoia District retirement service credit. Eligible retirees who retire between the ages of fifty-five (55) and sixty-five (65) will be eligible to remain on the district-paid group health insurance plans and participate in CalPERS at the active employee rates until they reach age sixty- five (65). At age sixty-five (65), if the retired eligible unit member is not eligible for Medicare A, at no cost to the retiree, the District agrees to reimburse the retiree an amount up to the cost of the premiums for Medicare B and the Medicare supplement offered by the District’s health carriers for verifiable expenditures for the retiree’s health insurance premiums.

Health Insurance for Retirees. 3.1 Through CalPERS the District agrees to provide qualifying unit members upon retirement at age sixty-five (65) with eligibility to participate in the CalPERS benefits program at CalPERS Retiree Supplement Rates. Said retirees will receive the district-district- paid minimum benefit provided for health insurance for all employees, active and retired. The minimum amount shall be established by CalPERS. In addition, a retiree whose eligibility status qualifies him or her for district-paid, lifetime retiree benefits shall receive a taxable service credit equal to the highest single active premium for HMO coverage minus the minimum benefit amount established by CalPERS. The total dollar obligation of the District, each year, to provide the benefits specified in the paragraph immediately above shall not exceed 0.88% (0.0088) of the prior year’s total revenue limit sources income. In any year in which the cost of the health benefits for retirees age sixty-five (65) and older as specified in the paragraph immediately above exceeds 0.88% (0.0088) of the prior year’s total revenue limit sources income, retirees sixty-five and older as specified in the paragraph immediately above shall contribute a pro-rata amount based upon the level of premiums paid on their behalf by the District, in order to make up the difference between cost and income. The 0.88% (0.0088) revenue limit cap on post-65 lifetime retiree benefits shall only be applied to those individuals receiving a Sequoia District retirement service credit. Eligible retirees who retire between the ages of fifty-five (55) and sixty-five (65) will be eligible to remain on the district-paid group health insurance plans and participate in CalPERS at the active employee rates until they reach age sixty- five (65). At age sixty-five (65), if the retired eligible unit member is not eligible for Medicare A, at no cost to the retiree, the District agrees to reimburse the retiree an amount up to the cost of the premiums for Medicare B and the Medicare supplement offered by the District’s health carriers for verifiable expenditures for the retiree’s health insurance premiums.

Health Insurance for Retirees. 3.1 Through CalPERS the District agrees to provide qualifying unit members upon retirement at age sixty-five (65) with eligibility to participate in the CalPERS benefits program at CalPERS Retiree Supplement Rates. Said retirees will receive the district-paid minimum benefit provided for health insurance for all employees, active and retired. The minimum amount shall be established by CalPERS. In addition, a retiree whose eligibility status qualifies him or her for district-paid, lifetime retiree benefits shall receive a taxable service credit equal to the highest single active premium for HMO coverage minus the minimum benefit amount established by CalPERS. The total dollar obligation of the District, each year, to provide the benefits specified in the paragraph immediately above shall not exceed 0.88% (0.0088) of the prior year’s total revenue limit sources income. In any year in which the cost of the health benefits for retirees age sixty-five (65) and older as specified in the paragraph immediately above exceeds 0.88% (0.0088) of the prior year’s total revenue limit sources income, retirees sixty-five and older as specified in the paragraph immediately above shall contribute a pro-rata amount based upon the level of premiums paid on their behalf by the District, in order to make up the difference between cost and income. The 0.88% (0.0088) revenue limit cap on post-65 lifetime retiree benefits shall only be applied to those individuals receiving a Sequoia District retirement service credit. Eligible Xxxxxxxx retirees who retire between the ages of fifty-five (55) and sixty-five (65) will be eligible to remain on the district-paid group health insurance plans and participate in CalPERS at the active employee rates until they reach age sixty- five (65). At age sixty-five (65), if the retired eligible unit member is not eligible for Medicare A, at no cost to the retiree, the District agrees to reimburse the retiree an amount up to the cost of the premiums for Medicare B and the Medicare supplement offered by the District’s health carriers for verifiable expenditures for the retiree’s health insurance premiums.

Health Insurance for Retirees. 3.1 Through CalPERS the District agrees to provide qualifying unit members upon retirement at age sixty-five (65) with eligibility to participate in the CalPERS benefits program at CalPERS Retiree Supplement Rates. Said retirees will receive the district-district- paid minimum benefit provided for health insurance for all employees, active and retired. The minimum amount shall be established by CalPERS. In addition, a retiree whose eligibility status qualifies him or her for district-paid, lifetime retiree benefits shall receive a taxable service credit equal to the highest single active premium for HMO coverage minus the minimum benefit amount established by CalPERS. The total dollar obligation of the District, each year, to provide the benefits specified in the paragraph immediately above shall not exceed 0.88% (0.0088) of the prior year’s total revenue limit sources income. In any year in which the cost of the health benefits for retirees age sixty-five (65) and older as specified in the paragraph immediately above exceeds 0.88% (0.0088) of the prior year’s total revenue limit sources income, retirees sixty-five and older as specified in the paragraph immediately above shall contribute a pro-rata amount based upon the level of premiums paid on their behalf by the District, in order to make up the difference between cost and income. The 0.88% (0.0088) revenue limit cap on post-65 lifetime retiree benefits shall only be applied to those individuals receiving a Sequoia District retirement service credit. Eligible Xxxxxxxx retirees who retire between the ages of fifty-five (55) and sixty-five (65) will be eligible to remain on the district-paid group health insurance plans and participate in CalPERS at the active employee rates until they reach age sixty- five (65). At age sixty-five (65), if the retired eligible unit member is not eligible for Medicare A, at no cost to the retiree, the District agrees to reimburse the retiree an amount up to the cost of the premiums for Medicare B and the Medicare supplement offered by the District’s health carriers for verifiable expenditures for the retiree’s health insurance premiums.