High Deductible Health Plan (HDHP) With Health Savings Account Sample Clauses

High Deductible Health Plan (HDHP) With Health Savings Account. (HSA) Each employee shall be entitled to medical insurance coverage for themselves and their dependents under a $2000/4000 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) with $0/15/30 post deductible Prescription Co-Pays. A description of this plan can be found in Schedule F attached and employees can also access their complete medical insurance benefit plan on the Cigna website at: xxxxx://xx.xxxxx.xxx/web/public/guest Said coverage shall also include: a. Anthem (Blue Cross/Blue Shield) full payment Dental Rider; including Riders A, B, C and D; b. Cigna Vision Plan a. Effective July 1, 2015 the City shall pay eighty eight and one-half percent (88.5%) and all employees and retirees shall pay eleven and one- half percent (11.5%) of the cost of coverage under the HDHP HSA. Effective July 1, 2016 the City shall pay eighty eight percent (88%) and all employees and retirees shall pay twelve percent (12%) of the cost of coverage under the HDHP HSA. Effective July 1, 2017 the City shall pay eighty seven and one-half percent (87.5%) and all employees and retirees shall pay twelve and one-half percent (12.5%) of the cost of coverage under the HDHP HSA. b. Effective July 1, 2015 and thereafter the City shall fund fifty percent (50%) of the applicable deductible for employees and retirees covered under the HDHP HSA set forth above. Said amount ($1,000 single/ $2,000 family) shall be paid by the City depositing that amount into each employees and retirees HSA account during the month of July at a bank chosen by the City. This participation by the City is a means of partially funding of the deductible and is not considered insurance under the HDHP HSA. Any employee who terminates employment before the end of any fiscal year for which the City has paid the deductible shall repay a proportional portion of the deductible to the City. The City shall prorate its share of the deductible for any employee hired after the start of a contract year. The City shall adopt an IRS Section 125 pretax premium conversion account.
Sample 1
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High Deductible Health Plan (HDHP) With Health Savings Account. (HSA) a. Anthem (Blue Cross/Blue Shield) full payment Dental Rider; including Riders A, B, C and D; b. Cigna Vision Plan; a. Effective July 1, 2015 the City shall pay eighty eight and one-half percent (88.5%) and all employees and retirees shall pay eleven and one- half percent (11.5%) of the cost of coverage under the HDHP HSA. Effective July 1, 2016 the City shall pay eighty eight percent (88%) and all employees and retirees shall pay twelve percent (12%) of the cost of coverage under the HDHP HSA. Effective July 1, 2017 the City shall pay eighty seven and one-half percent (87.5%) and all employees and retirees shall pay twelve and one-half percent (12.5%) of the cost of coverage under the HDHP HSA. b. Effective July 1, 2015 and thereafter the City shall fund fifty percent (50%) of the applicable deductible for employees and retirees covered under the HDHP HSA set forth above. Said amount ($1,000 single/ $2,000 family) shall be paid by the City depositing that amount into each employees and retirees HSA account during the month of July at a bank chosen by the City. This participation by the City is a means of partially funding of the deductible and is not considered insurance under the HDHP HSA. Any employee who terminates employment before the end of any fiscal year for which the City has paid the deductible shall repay a proportional portion of the deductible to the City. The City shall prorate its share of the deductible for any employee hired after the start of a contract year. The City shall adopt an IRS Section 125 pretax premium conversion account.
Sample 1

Related to High Deductible Health Plan (HDHP) With Health Savings Account

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • SAVINGS/FORCE MAJEURE A force majeure occurrence is an event or effect that cannot be reasonably anticipated or controlled. Force majeure includes, but is not limited to, acts of God, acts of war, acts of public enemies, strikes, fires, explosions, actions of the elements, floods, or other similar causes beyond the control of the Contractor or the Commissioner in the performance of the Contract which non- performance, by exercise of reasonable diligence, cannot be prevented. Contractor shall provide the Commissioner with written notice of any force majeure occurrence as soon as the delay is known. Neither the Contractor nor the Commissioner shall be liable to the other for any delay in or failure of performance under the Contract due to a force majeure occurrence. Any such delay in or failure of performance shall not constitute default or give rise to any liability for damages. The existence of such causes of such delay or failure shall extend the period for performance to such extent as determined by the Contractor and the Commissioner to be necessary to enable complete performance by the Contractor if reasonable diligence is exercised after the cause of delay or failure has been removed. Notwithstanding the above, at the discretion of the Commissioner where the delay or failure will significantly impair the value of the Contract to the State or to Authorized Users, the Commissioner may: a. Accept allocated performance or deliveries from the Contractor. The Contractor, however, hereby agrees to grant preferential treatment to Authorized Users with respect to Product subjected to allocation; and/or b. Purchase from other sources (without recourse to and by the Contractor for the costs and expenses thereof) to replace all or part of the Products which are the subject of the delay, which purchases may be deducted from the Contract quantities without penalty or liability to the State; or c. Terminate the Contract or the portion thereof which is subject to delays, and thereby discharge any unexecuted portion of the Contract or the relative part thereof.

  • Health and Welfare Fund Pursuant to provisions contained in a pre­ vious Collective Bargaining Agreement, there has been established a Health and Welfare Fund known as the “ Retail Meat Cutter Unions and Employers Joint Health and Welfare Fund For The Chicago Area” ; said Fund is hereinafter referred to as the “ Health and Welfare Fund.”

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