Medical Coverage Waiver. (Buy-out) Cash compensation in lieu of medical coverage with proof from employee to employer of alternative health insurance coverage (to be included in employee’s personnel file). Cash compensation will be paid to an eligible employee covered under this Agreement on the following scale: One person policy $19.23 per pay period (26 per year) Two person policy $28.85 per pay period (26 per year) Family policy $38.46 per pay period (26 per year) (Effective May 1, 2003) One person policy $28.85 per pay period (26 per year) Two person policy $43.27 per pay period (26 per year) Family policy $57.70 per pay period (26 per year) The Employer shall have no obligation to pay an additional health insurance premium on an employee’s behalf if the employee may be covered by an addition to coverage already afforded to the employee’s spouse or other immediate family member by the Employer. Subject to the other provisions of the Agreement, if the principal subscriber’s insurance coverage is discontinued, the insurance coverage provided for by this Section shall revert to the other employee.
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