Common use of Insurance Buy-Back Clause in Contracts

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. 1. The amount of payment per year for a waiver of the medical- surgical-major medical coverage as follows: Single $750.00 Parent/Child $950.00 Husband/Wife $1,100.00 Family $2,000.00 2. The amount of payment per year for a waiver of the dental coverage is $70.00; and 3. The amount of payment per year for a waiver of the prescription plan coverage as follows: Single $200.00 Parent/Child $300.00 Family $500.00 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. Application for re-enrollment can only occur during the normal open enrollment period. For new Employees hired after December 31, 1997, the Township shall pay for dependent coverage following the Employee’s first six (6) month’s of employment with the Township. The Employee will have the option of including their dependents during this period provided they pay the Township their Employee cost. Certified police officers with a least one (1) year experience would have dependents covered at date of hire. In the event that employees are married or become married while both parties are employed by the Township, the Township will only provided health benefits to one (1) of said employees. Said employee as covered under spouse’s health plan shall not be eligible for insurance waiver. Limitation would apply to employees hired after 1/1/2006.

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. 1. The amount of payment per year for a waiver of the medical- medical-surgical-major medical coverage as follows: Single $$ 750.00 Parent/Child $$ 950.00 Husband/Wife $1,100.00 Family $2,000.00 2. The amount of payment per year for a waiver of the dental coverage is $70.00; and 3. The amount of payment per year for a waiver of the prescription plan coverage as follows: Single $200.00 Parent/Child $300.00 Family $500.00 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 Township the pro-rata portion of any unearned portion of the waiver payment previously paid to the Employee. Application for re-enrollment can only occur during the normal open enrollment period. For new Employees hired after December 31, 1997, the Township shall pay for dependent coverage at the first open enrollment following the Employee’s first six (6) month’s of employment with the Township. The Employee will have the option of including their dependents during this period provided provide they pay the Township their Employee cost. Certified police officers with a at least one (1) year experience would have dependents covered at date of hire. hire In the event that employees are married or become married while both parties are employed by the Township, the Township will only provided 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. Limitation would apply to employees hired after 1/1/200601/01/2006.

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. 1. The amount of payment per year for a waiver of the medical- medical-surgical-major medical coverage as follows: Single $$ 750.00 Parent/Child $$ 950.00 Husband/Wife $1,100.00 Family $2,000.00 2. The amount of payment per year for a waiver of the dental coverage is $70.00; and 3. The amount of payment per year for a waiver of the prescription plan coverage as follows: Single $200.00 Parent/Child $300.00 Family $500.00 If an Employee employee elects to rejoin the Township group coverage, the Employee shall make application to do so, and the Employee shall pay to the township Township the pro-rata portion of any unearned portion of the waiver payment previously paid to the Employee. Application for re-enrollment can only occur during the normal open enrollment period. For new Employees employees hired after December 31, 1997, the Township shall pay for dependent coverage at the first open enrollment following the Employeeemployee’s first six (6) month’s of employment with the Township. The Employee employee will have the option of including their dependents during this period provided provide they pay the Township their Employee employee cost. Certified police officers with a at least one (1) year experience would have dependents covered at date of hire. In the event that employees are married or become married while both parties are employed by the Township, the Township will only provided health benefits to one (1) of said employees. Said employee as covered under spouse’s health plan shall not be eligible for insurance waiver. Limitation would apply to employees hired after 1/1/2006.

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. 1. The amount of payment per year for a waiver of the medical- medical-surgical-major medical coverage as follows: Single $$ 750.00 Parent/Child $$ 950.00 Husband/Wife $1,100.00 Family $2,000.00 2. The amount of payment per year for a waiver of the dental coverage is $70.00; and 3. The amount of payment per year for a waiver of the prescription plan coverage as follows: Single $200.00 Parent/Child $300.00 Family $500.00 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 Township the pro-rata portion of any unearned portion of the waiver payment previously paid to the Employee. Application for re-enrollment can only occur during the normal open enrollment period. For new Employees hired after December 31, 1997, the Township shall pay for dependent coverage at the first open enrollment following the Employee’s first six (6) month’s of employment with the Township. The Employee will have the option of including their dependents during this period provided provide they pay the Township their Employee cost. Certified police officers with a at least one (1) year experience would have dependents covered at date of hire. In the event that employees are married or become married while both parties are employed by the Township, the Township will only provided health benefits to one (1) of said employees. Said employee as covered under spouse’s health plan shall not be eligible for insurance waiver. Limitation would apply to employees hired after 1/1/2006.

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 basis, and will be paid to those Employees who have filed a waiver Waiver of coverage Coverage with Personnel for the coming year. The waiver Waiver must be filed at least one (1) month in advance of effective date of waiverWaiver. 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. 1. a. The amount of payment per year for a waiver Waiver of the medical- surgicalMedical- Surgical-major medical Major Medical coverage is as follows: Single $$ 750.00 Parent/Child $$ 950.00 Husband/Wife $1,100.00 Family $2,000.00 2. b. The amount of payment per year for a waiver Waiver of the dental coverage is $70.00; and 3. c. The amount of payment per year for a waiver Waiver of the prescription plan Prescription Plan coverage is as follows: Single $200.00 Parent/Child $300.00 Family $500.00 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 Township the pro-rata portion of any unearned portion of the waiver Waiver payment previously paid to the Employee. Application for re-enrollment can only occur during the normal open enrollment period. For new Employees hired after December 31, 1997, the Township shall pay for dependent coverage following the Employee’s first six (6) month’s of employment with the Township. The Employee will have the option of including their dependents during this period provided they pay the Township their Employee cost. Certified police officers Police Officers, with a at least one (1) year experience experience, would have dependents dependants covered at date of hire. In the event that employees are married or become married while both parties are employed by the Township, the Township will only provided health benefits to one (1) of said employees. Said employee as covered under spouse’s health plan shall not be eligible for insurance waiver. Limitation would apply to employees hired after 1/1/2006.