Insurance Pooling. The intent of the parties is to provide the maximum insurance contribution allowable by law to the employee pool, to be distributed among members of the bargaining unit. To gain maximum utilization of the total allowable state insurance contribution provided by law for employees covered by this Agreement, the District agrees that it will contribute the maximum allowable to an insurance pool to be distributed among employees on a fair share basis, to those who do not generate sufficient monies to cover the full cost of medical coverage.
Insurance Pooling. Pooling of insurance benefits will no longer be in effect for husband and wife employees employed after July 31, 2003. Current employees who pool insurance benefits may continue to do so as long as both are active employees of the Center Grove Community School Corporation.
Insurance Pooling. The intent of the parties to provide the maximum insurance contributions as funded by law to the employee pool, to be distributed among members of the bargaining unit. To gain maximum utilization of the total allowable state insurance contribution provided by law for employees covered by this Agreement, the District agrees that it will contribute the maximum allowable to an insurance pool to be distributed among employees on a fair share basis, to those who do not generate sufficient monies to cover the full cost of medical coverage. From the dollar amount available to each employee, first shall be deducted the cost of the District's dental plan with the remaining monies available for application to one of the medical insurance programs.
Insurance Pooling. For 2016-17 the total of OSEA member unspent District contributions multiplied by 60% (sixty percent) equals “the pool.” For 2017-18 the total of OSEA member unspent District contributions multiplied by 70% (seventy percent) equals “the pool”. For 2018- 19 the total of OSEA member unspent District contribution multiplied by 75% (seventy-five percent) equals “the pool”. For 2019-2020 the total of OSEA member unspent District contribution multiplied by 80% (eighty percent) equals “the pool”. If the insurance cap does not cover the full cost of the medical, dental, and vision insurance premiums for members, an insurance pool will be created by November 15 according to the following formula: Dollars in pool = % of monthly out-of-pocket cost paid by pool - - - - - - - - - - - - - - - - - - - - - - - - - - - Total out-of-pocket cost Example: Total OSEA member’s monthly out-of-pocket costs for medical, dental, and vision insurance premiums are $25,300 (for employees who have out of pocket costs for medical, dental, and vision insurance) and there is $26,500 of unspent cap dollars (for employees who spend less than the cap for medical, dental, and vision insurance). $26,500/$25,300=1.04743% (times) 60%=62.846% of each employee's monthly out-of-pocket cost for medical, dental, and vision insurance will be covered by the pool. The pool shall apply only to medical, dental and vision plan premiums for employees that exceed the monthly insurance cap. Employees will be eligible to obtain optional insurance coverage(s) (i.e. Disability, AD&D, Cancer, and Life) with unspent dollars under the District cap (See Article
Insurance Pooling. If the insurance cap does not cover the full cost of the medical, vision, and dental insurance premiums for employees, an insurance pool will be implemented by the October paycheck according to the following formula. The total of employees unspent District contributions equals “the pool.” All employees without out of pocket medical, vision, dental insurance premiums will be distributed from lowest to highest and “pool” dollars will be applied down the list until the “pool” is exhausted. “The pool” shall be determined by multiplying the unspent District contributions by a percentage as indicated in the table below. The “pool” shall apply only to medical, dental and vision plan premiums for employees whose coverage exceeds the monthly insurance cap. “Pool” dollars may not be applied to optional plans described in Article 17.2. Employees must (re)enroll with OEBB by October 1 to be eligible for “pool” dollars with the following exceptions: ● New employees hired after September 1st or hired after the pool is established will be eligible for “pool” dollars starting in October or the first month insurance is deducted from their paycheck, whichever is later. ● Employees who have an eligible mid-year qualified status change as defined by OEBB will be eligible for “pool” dollars. ● These employees will receive the District provided insurance contribution and a District contribution from the pool up to the maximum individual amount as determined by the October pool calculation.
17.5.1 Leftover Insurance Pool Funds (Appendix E)
17.5.1.1 School Year Leftover Pool Percentage to District School Year Leftover Pool Percentage to District 2022-2025 10% The proportion given back to members will be determined based on how much the member donated compared to the total donated pool. This payment will be given to such members in the form of employer-funded health flexible spending account (FSA) or limited flexible spending account (LFSA), up to the allowable IRS limit and if the member is eligible for these accounts based on IRS tax code or other regulatory requirements, and if allowable by the District’s FSA/LFSA provided/vendor. A member must contribute to the pool during open enrollment, and be eligible to receive a minimum of $20 per month, per the calculation, to be eligible to receive funds described in this section. Payments will begin with the January payroll following open enrollment and will continue through June payroll of the same year. Retroactive payments will be ...
Insurance Pooling. Insurance pooling will continue at the state level.
Insurance Pooling. The intent of the parties is to provide the state funded insurance contribution pool, to be distributed among members of the bargaining unit. To gain maximum utilization of this contribution, the Employer agrees that it will contribute the remaining state-funded dollars to an insurance pool to be distributed among employees on a fair share basis, to those who do not generate sufficient monies to cover the full cost of medical coverage. Pooling will follow state insurance benefit regulations and laws.
Insurance Pooling. 25 The FTE count for pool generation and pool distribution is closed with the submission of the S- 27 S-275 report date of each year will be entitled to the amount defined in Section 11.1. per FTE 28 based upon 1440 hours of work, and not participate in the insurance premium pool. Further, 29 except for the addition of new dependents, enrollments for dependents close on the cutoff date 30 for October payroll each year.
Insurance Pooling. From funds provided for benefits, deductions will first occur for the mandatory group benefits. After deduction for mandatory group benefits, the cost of medical insurance will be deducted from each employee’s FTE allocation. Any individual’s unused benefit allocation will be distributed to other employees to pay for any out-of-pocket medical insurance. The final amount each employee pays will be determined upon completion of the insurance pool. Married employees will be pooled separately and will be allowed to combine benefit allocations to minimize the out-of-pocket medical expenses. Any remaining funds will be reallocated to the entire group. If remaining funds exist after all medical premiums have been paid, funds will be allocated to employees on an FTE basis according to the annual signed VEBA agreement.
