Insurance Buy-Back. The Township agrees to make a payment to any Employee who elects to waive their rights to certain insurance coverage provided by the Township. The payment will be on a calendar year basis and will be paid to those Employees who have filed a waiver of coverage with Personnel for the coming year. The waiver must be filed at least one (1) month in advance of effective date of waiver.
Insurance Buy-Back. The Township agrees to make a payment to any employee who elects to waive their rights to certain insurance coverage provided by the Township. The payment will be on a calendar year basis and will be paid to those employees who had filed a waiver of coverage with Personnel for the coming year. The waiver must be filed at least one (1) month in advance of the effective date of the waiver. The amount of payment per year for a waiver of the medical- surgical-major medical coverage as follows: SINGLE $500.00 PARENT/CHILD $875.00 HUSBAND/WIFE $950.00 FAMILY $1,500.00 PRESCRIPTION: SINGLE $100.00 PARENT/CHILD 31 $150.00 DENTAL: FAMILY $250.00 ALL $70.00 If an employee elects to rejoin the Township group coverage, the employee shall make application to do so, and the employee shall pay to the Township the pro-rata portion of any unearned portion of the waiver payment previously paid to the employee. An employee may only rejoin during an open enrollment period, if applicable. In the event that employees are married or become married while both parties are employed by the Township, the Township will only provide health benefits to one (1) of said employees. Said employee as covered under spouse’s health plan shall not be eligible for insurance waiver.
Insurance Buy-Back. The Township agrees to make a payment to any employee who elects to waive their rights to certain insurance coverage provided by the Township and who provides the Township with proof of alternative insurance coverage. The payment will be on a calendar year basis and will be paid with the first [1ST] pay in January, and will be paid to those employees who have filed a waiver of coverage with the Township’s Treasurer for the coming year. The waiver must be filed at least one [1] month in advance of the effective date of the waiver. The amount of the payment shall not exceed Two Thousand [$2,000] dollars or fifty [50%] percent [whichever is less] of the premium for the waived Hospitalization Medical/ Surgical-Major Medical insurance coverage; and Sixty [$60] dollars per year for a waiver of the Dental coverage. Effective January 1, 2005 the payment shall not exceed $3,000 or fifty [50%] percent [whichever is less] of the premium for the waived Hospitalization Medical/ Surgical-Major Medical insurance coverage. Effective January 1, 2005, whenever fifty (50) percent of more of the Public Works Association membership elects to receive the insurance buy-back the payment amount during the affected coverage year shall not exceed $3,500 or fifty [50%] percent [whichever is less] of the premium for the waived Hospitalization Medical/ Surgical-Major Medical insurance coverage. If an employee elects to re-join the Township’s group coverage, the employee shall make application to do so during the established enrollment period, and the employee shall pay to the Township the pro-rata portion of any unearned portion of the waiver payment previously paid to the employee.
Insurance Buy-Back. The Township agrees to make a payment to any Employee who elects to waive their rights to certain insurance coverage provided by the Township. The payment will be on a calendar year basis, and will be paid to those Employees who have filed a Waiver of Coverage with Personnel for the coming year. The Waiver must be filed at least one (1) month in advance of effective date of Waiver. For those Employees hired after January 1, 2006, in the event that an Employee is married to, or becomes married to, another Township employee, while both parties are employed by the Township, the Township will only provide health benefits to one (1) of said employees. Said employees covered under the spouse’s health plan shall not be eligible for the insurance waiver payment.
Insurance Buy-Back. The Township agrees to make a payment to any employee who elects to waive their rights to certain insurance coverage provided by the Township. The payment will be on a calendar year basis and will be paid with the first pay in February and will be paid to those employees who have filed a waiver of coverage with the Township Treasurer for the coming year. The waiver must be filed at least one (1) month in advance of the effective date of the waiver. The employee must provide proof of equivalent insurance coverage from another plan that will be in effect for the period waived. The amount of payment shall be as noted as $5,000; or 50 percent (whichever is less) of the premium for the waived insurance coverage, and $60 per year for the waiver of Dental Coverage, for the entire length of this contract. A member who elects the buy-back may, only for a life-changing event (divorce, marriage, death, etc.) return to health coverage with the Township, and be required to reimburse the Township a pro-rated amount.
Insurance Buy-Back. The Township agrees to make a payment to any Employee who elects to waive their rights to certain insurance coverage provided by the Township. The payment will be on a calendar year basis and will be paid to those Employees who have filed a waiver of coverage with Personnel for the coming year. The waiver must be filed at least one (1) month in advance of effective date of waiver. For those employees hired after 01/01/06, in the event that employees are married or become married while both parties are employed by the Township, the Township will only provide health benefits to one (1) of said employees. Said employees as covered under spouse’s health plan shall not be eligible for insurance waiver.
