Insurance Incentive Sample Clauses

Insurance Incentive. Beginning July 1, 2015 employees who have elected single, employee + 1 or no medical coverage and a spouse of DMPS employee will be paid an insurance incentive. This incentive will be paid as income to the employee and be taxable. Employees will have the option to elect to defer this money into a tax sheltered annuity (TSA). The incentive is as follows: Employees electing single coverage $1,000 per year Employees opting out of medical coverage as spouse $1,000 per year Employees electing employee + 1 coverage $500 per year Beginning 2016-2017 Annual premium for health insurance Without participation in wellness With full participation in wellness Single $600 per year Fully paid by the District Employee + 1 $600 per year Fully paid by the District Family $600 per year Fully paid by the District Section 125 of the Internal Revenue Code allows an employer the opportunity to set up a flexible premium for employees. The Employer agrees to pay employee premiums under the rules and regulations of Section 125 of the Internal Revenue Code. Employees on a voluntary basis will be able to use pre-tax income to pay out-of-pocket unreimbursed medical costs and dependent care costs in accord with the district’s program restrictions. The medical reimbursement plan runs on the fiscal year. Medical reimbursement enrollment will be held in conjunction with annual open enrollment in May of each year. Dependent reimbursement plan runs on the calendar year. Dependent reimbursement enrollment will be held in November of each year. For new employees, coverage shall become effective within no more than 45 days from the date on which the employee begins service under his/her individual contract and upon approval of the employee’s application by the carrier. Upon an employee or an employee’s spouse attaining the age of 65, an employee who wishes to qualify for the Employer’s share of the monthly premium must notify the carrier or his/her spouse’s attainment of the age 65 by processing an enrollment card, must qualify under the rules and regulations of the respective carrier, and must enroll in the following plan:
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Insurance Incentive. Current enrollees, employees who participated but opted out prior to the 1995 agreement and new hires opting out of the health insurance plan shall receive $1,100 per year. Payments will be made in March and September following the prior 6 month period of waiver. Employees cannot be enrolled at any time in the prior 6 month period in order to be entitled to the waiver payment. Employees who opt out may re- enroll in the insurance plan if there is a change in status; i.e. marriage, death, spousal carve-out, etc. but will not be entitled to the waiver for the 6 month period in which they enroll.
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Insurance Incentive. Any employee who chooses to withdraw his/her enrollment from the school district’s health insurance policy or to change enrollment from a family plan or employee with children plan to a single employee plan will receive $1000 for the first year of withdrawal and $750 for the second year of withdrawal. In order to receive the incentive, the employee must have had coverage for the proceeding 12 month period. All opt-out payments need to run through a Section 125 Cafeteria Plan. If the employee opts out of coverage and wishes to re-enter later in the year, the incentive will be returned to the district on a pro-rata basis depending on the number of months effected.
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Insurance Incentive. 1. Current bargaining unit members who opt out of the health insurance plan will receive $1,100 per year. Payments will be made in March and September following the prior 6 month period of waiver. Bargaining unit members cannot be enrolled at any time in the prior 6 month period in order to be entitled to the waiver payment. Bargaining unit members who opt out may re-enroll in the insurance plan if there is a change in status; i.e. marriage, death, spousal carve-out, etc. but will not be entitled to the waiver for the 6 month period in which they enroll.
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Insurance Incentive. 36.1 Any teacher in the school system, hired prior to July 1, 2005, may elect to waive the HDHP/HSA or PPO health insurance coverage in Section 35.1 above and in lieu thereof receive a yearly sum of fifteen hundred dollars ($1,500). Teachers who elect to make such waiver shall notify the Board in writing by July 1 of any year of this Agreement that he/she is canceling his/her participation and coverage and the participation and coverage of his/her dependent(s) in the insurance plans. 36.2 The Board shall make payment to all teachers eligible in accordance with Section 36.1 in the following manner: $750 in the first pay period in December $750 in the last pay period in June 36.3 Any teacher who has notified the Board in accordance with Section 36.1 of this Article and whose insurance coverage and participation has been cancelled or any teacher not now participating in the insurance plan(s) who had a change of circumstances may apply in writing to the Board to be included in the insurance plan(s). Upon such request and subject to any regulations, restrictions, or waiting periods which may be in effect by the insurance carrier, the teacher shall be reinstated. 36.4 Any teacher who enrolls in the insurance plan(s) in accordance with Section 36.3 above shall receive pro-rata payment for those months during which he/she was not participating in or covered by the insurance plan(s) at no expense to the teacher.
Sample 1
Insurance Incentive. To incentivize the lowering of group insurance rates the following bonus will be awarded to every member of the bargaining unit if the targeted rate is met: A. A rate increase of (4.99%) or lower $250; B. A rate increase of (2.99%) or lower $500; C. A rate increase of one percent (.99%) or lower $1,000.
Sample 1

Related to Insurance Incentive

  • Group Insurance Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be paid or unpaid leave of absence contact the school district Employee Benefits Department.

  • Insurance Reimbursement If you have health insurance, your behavioral health treatments may be covered in whole or in part. The BHCTC will assist you in determining your insurance coverage and will help you fill out any forms needed. Many managed care plans often require an authorization before treatment can begin. You may be required to contact your insurance company to obtain this authorization and/or receive it from your primary care physician. Many managed care plans limit counseling and therapy services to short-term treatment designed to work out specific problems that prevent people from living and working as they normally do. As this is the BHCTC’s model of treatment, this often works out well. Where necessary, we may request more sessions from the managed care plan. In order to do so, we are typically required to complete the insurance company’s forms which may include providing your diagnosis, the reasons you have sought treatment from the BHCTC, the symptoms you are suffering, and how long we believe treatment will or should continue. The information provided will become part of the insurance company’s files. Insurance companies are obligated to keep this information confidential; however, please note that the BHCTC has no control over the handling of this information by the insurance company. If you receive treatment from one of our NJ Licensed Psychologists, your insurance company may request that you authorize the psychologist to disclose certain confidential information in order to obtain insurance coverage benefits for these services. This disclosure can occur only if it is pursuant to a valid authorization and the information is limited to: 1) administrative information (name, age, sex, fees, dates, nature of sessions, etc.); 2) diagnostic information; 3) the status of the patient (voluntary/involuntary; inpatient/outpatient); 4) the reason for continuing psychological services (limited to an assessment of the current level of functioning and the level of distress both rated as mild, moderate, severe or extreme); and 5) a prognosis, limited to the estimated minimal length of treatment. If the Insurance Company has reasonable cause to believe that the psychological treatment in question may not be usual, customary or is unreasonable, it may request an independent review of such treatment by an independent review committee. While a lot can be accomplished in short-term therapy, some people feel they need more services after their insurance benefits end. If this is the case with you, we will discuss what our fees are and the best way for you to arrange payment in order to receive continued treatment. If your insurance company does not allow us to see you after your benefits end, we will be happy to assist you in finding another therapist who will work well with you.

  • Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys' fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of a fire or other casualty affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions. B. Faculty members will be eligible to purchase the following supplemental coverage: 1. additional amounts of group term life insurance at a level of between one and three (3) times the Faculty member’s annual salary with a maximum of $600,000. The guaranteed issue level at initial enrollment will be determined by the life insurance carrier and any amounts over the guaranteed level will be subject to the underwriting requirements of the life insurance carrier. 2. group term life insurance for spouses and domestic partners at a level of between one (1) and three (3) times annual salary with a maximum of $600,000. The guaranteed issue level at initial enrollment will be determined by the life insurance carrier and any amounts over the guaranteed level will be subject to the underwriting requirements of the life insurance carrier. 3. group term life insurance for eligible dependent children at a level of $10,000.

  • Insurance Benefit The Employer may elect to provide incidental life insurance benefits for insurable Participants who consent to life insurance benefits by signing the appropriate insurance company application form. The Trustee will not purchase any incidental life insurance benefit for any Participant prior to an allocation to the Participant's Account. At an insured Participant's written direction, the Trustee will use all or any portion of the Participant's nondeductible voluntary contributions, if any, to pay insurance premiums covering the Participant's life. This Section 11.01 also authorizes the purchase of life insurance, for the benefit of the Participant, on the life of a family member of the Participant or on any person in whom the Participant has an insurable interest. However, if the policy is on the joint lives of the Participant and another person, the Trustee may not maintain that policy if that other person predeceases the Participant. The Employer will direct the Trustee as to the insurance company and insurance agent through which the Trustee is to purchase the insurance contracts, the amount of the coverage and the applicable dividend plan. Each application for a policy, and the policies themselves, must designate the Trustee as sole owner, with the right reserved to the Trustee to exercise any right or option contained in the policies, subject to the terms and provisions of this Agreement. The Trustee must be the named beneficiary for the Account of the insured Participant. Proceeds of insurance contracts paid to the Participant's Account under this Article XI are subject to the distribution requirements of Article V and of Article VI. The Trustee will not retain any such proceeds for the benefit of the Trust. The Trustee will charge the premiums on any incidental benefit insurance contract covering the life of a Participant against the Account of that Participant. The Trustee will hold all incidental benefit insurance contracts issued under the Plan as assets of the Trust created under the Plan.

  • Employment Insurance Rebate The short-term sick leave plan shall be registered with the Employment Insurance Commission (EIC). The nurses' share of the employer's Employment Insurance premium reduction will be retained by the Hospital towards offsetting the cost of the benefit improvements contained in this agreement.

  • Award and Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including attorneys’ fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of Casualty or Condemnation affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Group Insurance The Employer will continue to participate with employees in the provision of group life and medical plans as exist at the coming into force of this Agreement unless amended by mutual consent. The Employer agrees to pay 65% of the total premium cost for all employees covered by the health and dental care plans attached hereto and forming part of this Agreement.

  • Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • HEALTH AND INSURANCE BENEFITS 22.01 All health and insurance benefit premium costs paid by the Employer shall prorate in accordance with the proration formula under Article 22.12 of this Agreement. Same sex spouse is eligible to be a dependent for insured benefits.