Health Insurance Incentive Plan. Full-time employees working six to eight hours per day who are eligible for medical coverage may elect to waive medical coverage in exchange for $100 monthly cash payment. To elect this option, the employee shall: File a completed Waiver Form Provide satisfactory proof of health insurance through another plan. Only one (1) medical stipend will be provided per family to fund either the medical insurance coverage or the Health Insurance Incentive.
Health Insurance Incentive Plan. A $85/month stipend will be provided by the Board to each full-time (6-8 hour) Bargaining Unit Member who does not carry health insurance. This option amount shall be $15 for part-time members. This provision is subject to Federal tax law amendments. To elect this option, the employee shall:
Health Insurance Incentive Plan. The Board agrees to implement the following Health Insurance Incentive Plan (Appendix E):
A. Eligible Participants - Bargaining unit members who are insured under a health insurance plan other than that provided in this agreement and who elect to drop their health insurance coverage status and bargaining unit member new to the district during the duration of this negotiated agreement.
B. Plan Benefits - Each eligible plan participant will receive an incentive payment equal to thirty (30%) percent of the amount which the Board would have been required to contribute to that member’s health insurance premium payment had the member subscribed to that coverage. The incentive payment will be made monthly beginning with the first month following acceptance of the application and that such payments will be subject to all applicable withholding including, but not limited to STRS contributions, and federal, state and local income tax.
C. To participate in the Health Insurance Incentive Plan, the employee must complete an Election Agreement for this plan. The employee will be able to elect to exchange coverage for cash compensation on the later of the employee’s date of employment or the date the employee becomes eligible for medical benefits.
D. Generally, the employee will not be permitted to change the employee’s election to participate in the Plan or to vary the level of benefits the employee has selected during the Plan Year. Plan Years begin each October 1 and end on September 30.
E. However, the employee may change the employee’s previous election if the employee has a “change in family status.” A change in family status is defined in Internal Revenue Service regulations as follows:
1. The employee becomes divorced or legally separated from the employee’s legal spouse.
2. The employee’s spouse, dependent, or beneficiary dies.
3. The employee become permanently disabled.
4. The employee marries.
5. The birth or legal adoption of a person who qualifies as the employee’s dependent.
6. Termination or commencement of the employee’s spouse’s employment.
7. The employee switches from part-time to full-time, or vice versa.
8. The employee or the employee’s spouse takes an unpaid leave of absence.
9. There is a significant change in health coverage for the employee or the employee’s spouse due to the employee’s spouse’s employment.
F. Unless the employee has a change in family status, the employee will only be permitted to change the employee’s election in September, w...
Health Insurance Incentive Plan. Full-time employee who are eligible for medical coverage may elect to waive medical coverage in exchange for a $250 monthly cash payment, subject to federal tax law amendments. To elect this option, the employee shall: • File a completed Waiver Form; • Provide satisfactory proof of health insurance through another plan. Only one medical stipend will be provided per family to fund either the medical insurance coverage or the health insurance incentive provision.
Health Insurance Incentive Plan. The Board agrees to implement the following plan: Eligible Participants - Bargaining unit members who are insured under a health insurance plan other than that provided in this agreement and who elect to drop their health insurance coverage status and bargaining unit member new to the district during the duration of this negotiated agreement. Plan Benefits - Each eligible plan participant will receive an incentive payment equal to thirty (30%) percent of the amount which the Board would have been required to contribute to that member’s health insurance premium payment had the member subscribed to that coverage. The incentive payment will be made monthly beginning with the first month following acceptance of the application and that such payments will be subject to all applicable withholding including, but not limited to STRS contributions, and federal, state and local income tax. To participate in the Health Insurance Incentive Plan, you must complete an Election Agreement for this plan. You will be able to elect to exchange coverage for cash compensation on the later of your date of employment or the date you become eligible for medical benefits. Generally, you will not be permitted to change your election to participate in the Plan or to vary the level of benefits you have selected during the Plan Year. Plan Years begin each February 1st and end on January 31st. However, you may change your previous election if you have a “change in family status.” A change in family status is defined in Internal Revenue Service regulations as follows: -You become divorced or legally separated from your legal spouse. -Your spouse, dependent, or beneficiary dies. -You become permanently disabled. -You marry. -The birth or legal adoption of a person who qualifies as your dependent.
