Common use of Insurance Opt-Out Clause in Contracts

Insurance Opt-Out. If an Employee has minimal essential medical coverage for themselves and all other individuals for whom the employee can reasonably expect to claim a personal tax exemption deduction , the Employee may elect not to enroll in core (medical, dental and vision) benefit coverage and is eligible to receive a monthly Employer payment of two- hundred dollars ($200). An Employee may elect to opt out of medical only coverage and will receive a monthly Employer payment of one-hundred dollars ($100). An employee receiving a monthly opt-out cash payment, may receive it as cash added to their wages, or may designate it to a pretax option such as a Flexible Spending Account (FSA), in accordance with I.R.C. 125(i), for medical reimbursement, dependent care reimbursement, or deferred compensation, in accordance with I.R.C. 457(f). Eligible Employees electing to opt out must:

Insurance Opt-Out. If an Employee has minimal essential medical coverage for themselves and all other individuals for whom the employee can reasonably expect to claim a personal tax exemption deduction deduction, the Employee may elect not to enroll in core (medical, dental and vision) benefit coverage and is eligible to receive a monthly Employer payment of two- six- hundred dollars ($200600). An Employee may elect to opt out of medical only coverage and will receive a monthly Employer payment of onefour-hundred dollars ($100400). An employee receiving a monthly opt-out cash payment, may receive it as cash added to their wages, or may designate it to a pretax option such as a Flexible Spending Account (FSA), in accordance with I.R.C. 125(i), for medical reimbursement, dependent care reimbursement, or deferred compensation, in accordance with I.R.C. 457(f). Eligible Employees electing to opt out must:

Insurance Opt-Out. If an Employee has minimal essential medical coverage for themselves and all other individuals for whom the employee can reasonably expect to claim a personal tax exemption deduction , the Employee may elect not to enroll in core (medical, dental and vision) benefit coverage and is eligible to receive a monthly Employer payment of two- oftwo- hundred dollars ($200). An Employee may elect to opt out of medical only coverage and will receive a monthly Employer payment of one-hundred dollars ($100). An employee receiving a monthly opt-out cash payment, may receive it as cash added to their wages, or may designate it to a pretax option such as a Flexible Spending Account (FSA), in accordance with I.R.C. 125(i), for medical reimbursement, dependent care reimbursement, or deferred compensation, in accordance with I.R.C. 457(f). Eligible Employees electing to opt out must: