MEDICAL, HOSPITLIZATION, AND DENTAL INSURANCE. The Employer shall maintain the health insurance benefit levels provided under the Health Insurance Program as defined in the Plan Document and Summary Plan Description for City of Ottawa Employee Benefit Plan for employees dated April 1999. All employees shall also be covered under the Plan Document and Summary Plan Description for City of Ottawa Employee Benefit Plan signed January 6, 2003. Any and all benefits in both Plans shall be applicable when determining whether or not an employee or his/her dependents are covered for any illness or medical procedure. Effective January 1, 2005, employees shall contribute twenty (20) percent of the premium or premium equivalent for each of the following categories: - Single coverage - Single insured plus one - Full family coverage The premium equivalent shall be based on the administration fees, the cost of any insurance stop loss insurance, and the average of the actual medical, drug, and prescription claims from the previous plan year. The insurance stop loss and third-party administer fees are based on the actual renewal rates for the current plan year. In projecting the average claim costs of medical, dental, and drug claims for succeeding year, the third-party administrator shall determine and apply the most current medical, denial and drug trends as currently practiced. Premium equivalents shall be determined as soon as possible after the close of the plan year (August 31). The City shall provide the union with a complete analysis of the computation of the premium equivalents prior to December 1. Above contributions shall be deducted bi-weekly in twenty-six equal installments. There will be a $200.00 individual and a $400.00 family deductible. As of April 1, 1996, and after, upon retirement with twenty (20) years of service regardless of age, employees may elect to remain covered by the above-mentioned policy by notifying the employer in writing and paying 25% of the premium charged; employer shall pay the remaining 75% of the premium. Upon the death of a retired employee covered by the above-mentioned policy his or her family may elect to remain covered by notifying the employer in writing and paying 100% of the premium. Provided, however, if an employee has elected to obtain employment elsewhere and group or individual health insurance that is substantially equivalent, in benefits and employee cost, is available as a benefit of such other employment, said retiree shall no longer be eligible to maintain or c...
