Common use of Insurance Option Clause in Contracts

Insurance Option. For those WBEA employees electing not to enroll in the group health insurance plan offered by the Board of Education, the Board agrees to pay directly to the employee the appropriate amount specified within the chart below for each month the employee elects not to be enrolled in the plan: Number of WBEA Members Participating in Monthly In-Lieu Of Annual Payment 1-50 $250 $3,000 51-60 $350 $4,200 61-70 $450 $5,400 71+ $550 $6,600 Cash in lieu participation is determined twice per year by the number of members enrolled by January 1 and July 1 each year.

Insurance Option. For those WBEA employees electing not to enroll in the group health insurance plan offered by the Board of Education, the Board agrees to pay directly to the employee the appropriate amount specified within the chart below for each month the employee elects not to be enrolled in the plan: Number of WBEA Members Participating in In-Lieu Of Monthly In-Lieu Of Payment Annual Payment Per Employee 1-50 $250 $3,000 51-60 $350 $4,200 61-70 $450 $5,400 71+ $550 $6,600 Cash in lieu participation is determined twice per year by the number of members enrolled by January 1 and July 1 each year.