Healthcare Buy-Back. Upon presentation of proof of alternative health care coverage pursuant to a non-Providence School Department paid plan satisfactory to the Union, teachers eligible for comprehensive medical coverage under this Agreement may choose not to be covered under the Providence School Department’s group health insurance policies. Eligible teachers enrolled in a family plan making this choice shall receive $1,500.00 for each full contract year (pro-rated if a teacher is hired after the first work day of the school year and before October 1st, the proration will be 11/12 of $1,500.00 for an amount equal to $1,380.00) in which they are not covered for family coverage and for those dropping individual coverage, the compensation shall be $750.00 for each full contract year (pro-rated if the teacher is hired after the first work day of the school year and before October 1st, the proration will be 11/12 of $750.00 for an amount equal to $690.00) of non-coverage by a Providence School Department plan. The parties understand and agree that teachers whose spouses are employed by the Providence School Department or the City of Providence and those who have chosen not to be covered by Providence School Department policies shall not be eligible for this benefit. For each year in which the teachers opts out under this section, he/she shall receive no coverage pursuant to this Appendix, except that teachers may opt back into the Plan in the event of a major life event causing loss of alternative and equivalent coverage, such as death or loss of employment of a spouse. Proof of loss of said alternative coverage or equivalent coverage may be required by the Providence School Department before the teacher is re-enrolled. Payments to teachers under this provision shall be made at the end of each year, in arrears for the period of October to September with payment made in September. If a teacher has opted back into Providence School Department coverage during the course of a contract year, he/she shall not be entitled to any payment under this section for that year.
Healthcare Buy-Back. Any member who has coverage or is eligible for coverage under another health insurance plan may elect to waive the Town health plan and receive an annual payment equal to Two Thousand dollars ($2,000). Payments for the buy-back will be pro-rated over bi-weekly pay periods throughout the fiscal year. Members electing to participate in the health buy-back program shall deliver a signed, witnessed waiver form to the Personnel Office prior to each June 15th as well as a letter from the organization providing the coverage. In the event that a member who has elected to drop the health coverage as provided above decides to reinstate either or both coverage’s, the following shall apply:
