MEA Health Insurance Trust Sample Clauses

MEA Health Insurance Trust. For Employees In PERSCare Family as of October 1, 2008 who wish to stay on that Plan upon the effective date of the cafeteria plan (hereinafter for this section only “grandfathered employees”) Each January, the City will review the difference between the PERSCare family plan rate and the PERSCare two party rate. The City will take that number and multiply it by the number of grandfathered employees to establish the gross monthly amount of the Health Insurance Trust.. The gross monthly amount of the Health Insurance Trust (on a monthly basis) will then be divided by the number of employees in the unit receiving cash from the cafeteria plan (either opt out pay or cash back from choosing benefits that result in the receipt of cash back through the plan) and will be equally subtracted from the monthly medical insurance opt out amount an employee receives or the amount of cash back an employee receives. The City will then deposit the gross monthly amount of the Health Insurance Trust in a trust established by MEA from which MEA will fund the difference between the PERSCare two party and PERSCare family on behalf of the grandfathered employees. MEA will be responsible for managing the trust to ensure it complies with the law Grandfathered employees who have remained in PERSCare family can only opt out during open enrollment and once they opt out cannot reenter PERSCare as a grandfathered employee. For example, if the PERSCare family rate is $2,007 and the PERSCare two party rate is $1,544, the difference is $463. If there are 20 grandfathered employees who choose to remain in When there are no grandfathered employees currently receiving PERSCare family, the deduction from cash back or opt out pay will be eliminated, the City’s deposit will cease and the trust will be dissolved. PERSCare family, the City will multiply 20 times $463 to get a gross monthly amount Health Insurance Trust amount of $9,260. The City will then deposit $9,260 per month into the health trust described above. If there are 195 bargaining unit members eligible for cash (no employee who has chosen PERSCare family will be eligible for cash in this plan), the City will divide $9,260 by 195 employees. The result, $47.49, will then be subtracted from the amount of cash each employee can receive as medical insurance opt out pay or cafeteria cash back. Thus, for example, (under C(1)(d)(1) above) if an employee (eligible to receive $1,690.00, for example) opts out of dental insurance and purchases m...
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Related to MEA Health Insurance Trust

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  • Health Insurance Portability and Accountability Act Grantee certifies that it is in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA), Public Law Xx. 000-000, 00 XXX Parts 160, 162 and 164, and the Social Security Act, 42 USC 1320d-2 through 1320d-7, in that it may not use or disclose protected health information other than as permitted or required by law and agrees to use appropriate safeguards to prevent use or disclosure of the protected health information. Grantee shall maintain, for a minimum of six (6) years, all protected health information.

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