Medical Coverage Opt Out. For the term of the Agreement a benefits eligible employee who has alternate group medical coverage may choose to opt out of City provided medical coverage. A full-time employee who chooses to opt out shall not be required to pay the contribution in Clauses 17.3 and shall receive a cash payment every payday (except for the third payday in a month) as follows: Cash Payment One Party $25.00 per payday Two Party $45.00 per payday Family $62.50 per payday
Medical Coverage Opt Out. An employee may elect to opt out of medical insurance coverage provided by the Department for the employee’s spouse and/or dependents, if the employee provides credible evidence during the open enrollment period that he/she has qualifying medical insurance coverage from another source. In such event, the employee shall be entitled to receive 50% of the total premiums, FSA, and HRA-VEBA contributions that would have been paid by the Department for the employee’s spouse and/or dependents, contributed to their HRA-VEBA account.
Medical Coverage Opt Out. For the term of the Agreement a benefits eligible employee who has alternate group medical coverage may choose to opt out of City provided medical coverage. A full-time employee who chooses to opt out shall not be required to pay the contribution discussed above and shall receive a cash payment every payday. Employees may elect to receive the cash payment as cash (subject to withholding). In addition to the cash payment to the employee, the City shall contribute for each full-time employee who opts out of medical coverage an additional amount to the Health Fund as follows: The City shall pro-rate the cash payment and City contribution discussed above for part- time benefits eligible employees based on whether they are actively employed in an eligible job class and status and are working their regularly scheduled hours Benefit coverage for domestic partners will continue. Availability of domestic partner benefit is subject to continuing availability from the City’s employee benefit insurance carriers. The Committee will recommend eligibility rules governing domestic partner benefit coverage to the City Council. Health Fund Reserves The Health Fund shall be maintained with adequate reserves to meet fund obligations. The term “excess reserves”, as used in this agreement, shall be defined as the monies in the Health Fund which are not needed to meet fund obligations. Excess reserves shall remain in the Health Fund but shall be subject to separate reporting to the committee. The Health Fund and all reserves associated with the Fund must be maintained in an interest-bearing account. Fund reserves shall be pooled and shall not be allocated on an individual employee or employee group basis.
Medical Coverage Opt Out. Those bargaining unit members having and providing proof of health insurance coverage elsewhere may elect to “opt-out” of College provided health insurance (medical, dental and vision). Bargaining unit members who “opt-out” will receive a 33 1/3% (COBRA Actuarial Equivalent) payment of the savings to the College premised upon the current cost to the College for the provision of health insurance for the particular bargaining unit member. The Opt-Out payment willbe paid on a quarterly basis, payable the last pay period of the quarter. First Year: 2006 - Human Resources/Benefits, must be notified, in writing with accompanying documentation, by December 20, 2005 of intent to “opt-out”. 2007 & 2008 – Human Resources/Benefits, must be notified, in writing with accompanying documentation, of intent to “opt-out or “re-enrollment” during the fall open enrollment period of each year for the following calendar year. Bargaining unit members who elect to “opt-out” and incur a qualifying event (as defined by the IRS) during the opt-out period of coverage will be eligible for re-enrollment at the time of the qualifying event. Bargaining unit members who opt-out are not eligible for transition benefits pay-out the year of opt-out. Bargaining unit members who have “opted-out” and decide to re-enroll during the Fall open enrollment period will incur transition benefits and employment benefit contributions as outlined in Section 11.12.00.
