Common use of Insurance Waiver Option Clause in Contracts

Insurance Waiver Option. Any employee who has medical insurance from some other source who elects not to receive medical insurance benefits in accordance with provisions within this Article shall be eligible to receive compensation. An employee waiving medical insurance coverage hereunder shall provide the District with proof of insurance. In the event that the number of employees electing not to receive medical benefits is either 3 or 4, the amount of the insurance waiver option shall be $1,000 annually. If the number exceeds 4 for purposes of this provision, the amount of the insurance waiver option shall be $1,500 annually. The number of employees eligible for the insurance waiver option shall be determined as of October 1 of each school year. The amount of the insurance waiver option shall be in effect for 12 months. Employees selecting the medical insurance waiver option may not elect to receive medical insurance benefits during the 12-month period, unless the employee's medical coverage is discontinued and the election shall be subject to the applicable requirements contained in the insurance policy.

Insurance Waiver Option. Any employee who has medical insurance from some other source who elects not to receive medical insurance benefits in accordance with provisions within this Article shall be eligible to receive compensation. An employee waiving medical insurance coverage hereunder shall provide the District with proof of insurance. In the event that the number of employees electing not to receive medical benefits is either 3 or 4, the amount of the insurance waiver option shall be $1,000 annually. If the number exceeds 4 for purposes of this provision, the amount of the insurance waiver option shall be $1,500 annually. The number of employees eligible for the insurance waiver option shall be determined as of October December 1 of each school year. The amount of the insurance waiver option shall be in effect for 12 months. Employees selecting the medical insurance waiver option may not elect to receive medical insurance benefits during the 12-month period, unless the employee's medical coverage is discontinued discontinued, and the election shall be subject to the applicable requirements contained in the insurance policy.