Health Insurance Premium Rebate a. If during the term of this Agreement, the UMS Group Health Plan continues to operate on a self-insured basis and the total aggregate premium amount for the two-year period January 1, 2011 through December 31, 2012 and each two year period thereafter exceeds the total aggregate costs paid to the insurer for the same period for claims and other expenses by equal to or exceeding 1%, unit members will receive a proportionate rebate of premiums paid based upon their level of coverage at the time the rebate is paid. The rebate will be paid no later than September 30, 2013 and each corresponding September in subsequent two year cycles.
Health Insurance Premium Rebate. If during the term of this Agreement the UMS Group Health Plan continues to operate on a self- insured basis and the total aggregate premium amount for the two-year period January 1, 2011 through December 31, 2012, and each two-year period thereafter, exceeds the total aggregate costs paid to the insurer for the same period for claims and other expenses by equal to or exceeding 1%, unit members will receive a proportionate rebate of premiums paid based upon their level of coverage at the time the rebate is paid. The rebate will be paid no later than the 3rd quarter of the following year. During the term of the agreement all state and federal health insurance mandates, including those regarding mental health services, that would be applicable to employee coverage under insurance plans provided by the University by way of regulated insurance carriers, shall be applicable to the UMS Group Health Plan plans covering unit members under the terms of this Agreement. If a mandate results in a mid-year premium change, the employee premium share will be increased proportionately.
Health Insurance Premium Rebate a. If during the term of this agreement the UMS Group Health Plan continues to operate on a self- pg. 16 insured basis and the total aggregate premium amount for the two-year period January 1, 2011 through December 31, 2012 and each two year period thereafter exceeds the total aggregate costs paid to the insurer for the same period for claims and other expenses by equal to or exceeding 1%, unit members will receive a proportionate rebate of premiums paid based upon their level of coverage at the time the rebate is paid. The rebate will be paid in the third quarter of 2013 and each corresponding third quarter in subsequent two year cycles.
Health Insurance Premium Rebate. If, during the term of this Agreement the UMS Group Health Plan continues to operate on a minimum premium contract and the total premium amount for a calendar year exceeds the costs paid to the insurer for claims and other expenses by equal to or exceeding 1%, unit members will receive a proportionate rebate of premiums paid based upon their level of coverage at the time the rebate is paid. For calendar year 2006 these amounts shall be: Rebate Single coverage $36.50 Employee plus one coverage $73.00 Family coverage $109.50
