Medical & Hospital Insurance for Retirees Sample Clauses

Medical & Hospital Insurance for Retirees. Upon retirement, the City shall furnish group coverage to eligible full-time retirees and spouses as identified in Section 1-B, or a sum of $1,500 annually in lieu of health insurance coverage at the retiree's option based on eligibility. The conditions for compensation in lieu of health insurance coverage are defined in Section 1-E of this Article. Effective August 1, 2008, employees retiring will have a $10/$40 drug rider. Upon reaching Medicare eligibility due to age or disability, coverage above will convert to the Medicare Advantage plan or equivalent coverage with 60 days advance notice by the retiree. Medicare eligible retirees must also enroll in Medicare Parts A and B in order to continue City- sponsored retiree health insurance. If coverage is afforded by other employment, the above coverage will be suspended until the other coverage has ceased. Coverage will be extended only as long as the retiree or spouse is collecting a retirement income from the City of Mount Xxxxxxx. For all employees hired on or after July 1, 2011, the health care insurance or available employer sponsored health care plan provided to retirees under this section shall at all times be the same as that provided to bargaining unit members actively employed by the Employer. Before significant plan changes are implemented, the City will provide advance written notice to retirees and provide an opportunity to meet and discuss plan changes.
Sample 1
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Related to Medical & Hospital Insurance for Retirees

  • Medical Insurance for Retirees The University will make available a medical insurance plan for official retirees hired prior to January 1, 2014 in the same manner and on the same basis as applies to all the University’s other official retirees. An official retiree (including early retirees) for purposes of this benefit, will be defined as any regular employee who is employed by the University at the time of retirement, who is vested in a University sponsored retirement plan and whose years of University service and age total a minimum of 75. Coverage for the spouse of the retiree or early retiree is available on the same basis as for other University official retirees. The University retains the right to modify or terminate this plan upon reasonable notice to staff and retirees.

  • Retiree Medical Insurance Retiree insurance coverage is included within each medical plan for all retirees under the age of 65 years, through self-payment. The Employer shall make available an appropriate medical plan for all eligible retirees ages 65 years or older.

  • MEDICAL AND HOSPITAL INSURANCE 14.1 Current practices will prevail for the duration of this Agreement, except that any changes in medical or hospital insurance plans, including the premium payable by employees, applicable to the majority of those employed in the Public Service for whom the Treasury Board is the employer, will during the life of this Agreement be applicable to the employees under this Agreement.

  • Medical Insurance Upon termination of employment, the Executive shall be entitled to all COBRA continuation benefits available under the Company's group health plans to similarly situated employees. To the extent permitted under Code Section 409A, during the applicable Payout Period, the Company shall provide such COBRA continuation benefits to the Executive at the active employee rates similarly situated employees must pay for such benefits. Upon the expiration of such Payout Period, the Executive will be responsible for paying the full COBRA premiums for the remaining COBRA continuation period.

  • Dental Insurance Plan 9.9.1 The College will pay one hundred percent (100%) of the premiums for a dental insurance plan, except as per 9.1.4.1.

  • Hospital and Medical Insurance The University shall make available health insurance to the employees covered by this agreement to the same extent and in the same manner as is available to other University employees, such as Faculty and the Executive, Administrative and Professional Staff employees. It is the University's goal to have the same health insurance plans offered uniformly to all University groups and employees.

  • Basic Medical Insurance All regular Employees may choose to be covered by the medical plan for which the British Columbia Medical Plan is the licensed carrier. Benefits and premiums shall be in accordance with the existing policy of the plan. The Employer will pay one hundred percent (100%) of the regular premium.

  • Long Term Disability Insurance Plan The Employer shall provide a mutually acceptable long-term disability insurance plan, a copy of which shall appear in Appendix “A” – Long-Term Disability Insurance Plan. The plan shall provide post-probationary regular employees with salary continuation as per Appendix “A” until age sixty-five (65) in the event of a disability. The cost of the plan shall be borne by the Employer.

  • DISABILITY INSURANCE PLAN Management shall expend for active employees of this unit who are members of LACERS the sum necessary to cover the cost of a basic disability insurance plan. Management shall also maintain a Supplemental Disability Insurance Plan, enrollment in which is at the discretion of each employee. The full cost of the Supplemental Disability Insurance Plan premiums shall be paid by the individual employees who enroll in the plan. The City's Joint Labor-Management Benefits Committee shall determine the benefits and provider of the plan

  • Dental Care Plan The Welfare Plan will include a Dental Care Plan which will reimburse members for expenses incurred in respect of the coverages summarized in Appendix "1". The Plan will not duplicate benefits provided now or which may be provided in the future by any government program.

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