Common use of Insurance Carriers Clause in Contracts

Insurance Carriers. The Board of Education at its sole discretion may change the identity of carriers or administrators contracted to provide or to administer medical, prescription drug, dental, vision and/or life insurance in whole or in part. Prior to changing vendors under this section, the Board shall notify the President of the Association at least thirty (30) days in advance of the nature of the proposed change and the reasons therefore. During the next ensuing thirty (30) day period, the parties shall meet and the reasons for the proposed change shall be more fully explained. Any changes in the identity of the carriers or administrators contracted to provide or to administer medical, prescription drug, dental, vision and/or life insurance benefits in whole or in part must provide substantially equal coverage, benefits and service to the members of the bargaining unit and their dependents at no additional cost, and any claims then or thereafter that this is not the case may be the subject of a grievance under the controlling grievance procedures. If, during the thirty (30) day period set forth above, the parties cannot agree that this is the case, either the Board or the Association may invoke arbitration as provided under this Agreement for the purpose of determining whether the proposed change or changes will, in fact, provide equal benefits, at no additional cost to covered employees or their dependents. Network equivalence shall not be a factor in considering substantial equivalence in coverage, benefits and service, provided that there is no disruption of physicians of greater than fifteen percent (by visit). A change in formulary shall be considered equivalent if at least 90 of the 100 drugs most commonly used by Westport teachers shall be included in the formulary. Any arbitration under this clause will be final and binding as provided by the contract, preferably before an arbitrator experienced in insurance matters.