Common use of Insurance Partnership Clause in Contracts

Insurance Partnership. A. The Board and the Association shall form a partnership for the benefit of providing insurance for the Corporation’s employees. The partnership shall be comprised of four (4) members, two (2) appointed by the Association and two (2) appointed by the Administration. The purpose of the partnership shall be to oversee, manage, and provide guidance on issues relating to insurance coverage, investments, and benefits. B. The partnership may make decisions about overall benefits for the insurance committee. They shall also be responsible for suggesting whether a change of carrier is necessary. All decisions of the partnership shall be made by a majority vote of the four (4) members. The partnership shall not, on its own authority, select or change the carrier. C. There shall be established a Medical Appeals Board made up of the members of the partnership. D. If an employee feels aggrieved by the decision of the carrier, or if an employee feels that benefits should be added, they shall make an application to the Medical Appeals Board. If the Medical Appeals Board finds that the insurance plan has been misinterpreted by the carrier, then the Medical Appeals Board shall, by a majority vote, direct the carrier to pay the claim. E. If an employee requests a change in benefits, then the request shall be forwarded for consideration to the partnership. A change of benefit must be approved by the partnership. F. The decision of the choice of carrier shall be referred to the bargaining teams for action. Following approval of a new carrier, the Association and the Board shall conduct a ratification vote. G. Failure by the Association and the Board to adopt a change in carrier shall cause the parties to table the issue until the expiration of the current Master Contract agreement. H. The funds set aside for the provision of insurance shall be used only for that purpose. All funds contributed by the employees and the corporation shall be placed in a separate fund, and only be used for the purpose of providing insurance benefits for the employees. Interest earned on those funds shall be accumulated in the insurance fund. The corporation shall not be allowed to commingle other funds, withdraw, or otherwise expend insurance funds for any purpose other than insurance.

Insurance Partnership. A. The Board and the Association shall form a partnership for the benefit of providing insurance for the Corporation’s employees. The partnership shall be comprised of four (4) members, two (2) appointed by the Association and two (2) appointed by the Administration. The purpose of the partnership shall be to oversee, manage, and provide guidance on issues relating to insurance coverage, investments, and benefits. B. The partnership may make decisions about overall benefits for the insurance committee. They shall also be responsible for suggesting whether a change of carrier is necessary. All decisions of the partnership shall be made by a majority vote of the four (4) members. The partnership shall not, on its own authority, select or change the carrier. C. There shall be established a Medical Appeals Board made up of the members of the partnership. D. If an employee feels aggrieved by the decision of the carrier, or if an employee feels that benefits should be added, they shall make an application to the Medical Appeals Board. If the Medical Appeals Board finds that the insurance plan has been misinterpreted by the carrier, then the Medical Appeals Board shall, by a majority vote, direct the carrier to pay the claim. E. If an employee requests a change in benefits, then the request shall be forwarded for consideration to the partnership. A change of benefit must be approved by the partnership. F. The decision of the choice of carrier shall be referred to the bargaining teams for action. Following approval of a new carrier, the Association and the Board shall conduct a ratification vote. G. Failure by the Association and the Board to adopt a change in carrier shall cause the parties to table the issue until the expiration of the current Master Contract agreement. H. The funds set aside for the provision of insurance shall be used only for that purpose. All funds contributed by the employees and the corporation shall be placed in a separate fund, and only be used for the purpose of providing insurance benefits for the employees. Interest earned on those funds shall be accumulated in the insurance fund. The corporation shall not be allowed to commingle other funds, withdraw, or otherwise expend insurance funds for any purpose other than insurance. I. The Board agrees to provide detailed documents to the members of the partnership. All documents (except those specifically forbidden by federal or state law) related to expenses, benefits, and claims shall be available to the members of the partnership. However, each partnership member must agree that information available to him or her is largely confidential and shall not be shared for the benefit or detriment of any other employee. J. At all times, the management of insurance funds shall be in accordance with Indiana Code.