MEDICAL INSURANCE OPT-OUT. If an employee eligible for full medical insurance opt not to take the benefit, will receive:
1) An additional Death Benefit of $50,000 AD&D.
2) $125.00 per month for full family or 2 person, and $75 for single that may be taken in cash. The payments will be made on a per pay basis.
MEDICAL INSURANCE OPT-OUT. 11 A. Employees shall be given the option to elect to not receive medical insurance as 12 provided in the contract. If an employee elects to opt out of medical insurance coverage 13 totally, said employee will receive a lump-sum payment worth $2,000 if the employee is 14 eligible for an individual plan or $4,000 if the employee is eligible for a family plan or a 15 Subscriber-plus plan. The District shall disburse this payment in the last payroll of the fiscal 16 year in which the employee elected not to receive medical coverage.
18 B. If an employee elects to opt out of coverage either in total or partially, he/she may 19 elect to receive coverage under this article by opting back into the medical insurance plan in 20 accordance with the terms of the plan.
22 2. LIFE INSURANCE
MEDICAL INSURANCE OPT-OUT. A bargaining unit member who is covered by the District health insurance plan and is willing to discontinue that coverage or a new employee who does not enroll in the District health insurance plan shall receive an annual reimbursement of $4,000, prorated per month. To discontinue coverage, the bargaining unit member must notify the Business Office by the 15th of the month. The effective date of discontinuance for this benefit will be the first of the month following proper notification to the Business Office. Payment of cash in lieu of coverage shall be made at the end of June following the discontinuance period. Any bargaining unit member who discontinues this coverage may enroll/re-enroll in accordance with the policy of the existing health insurance carrier.
MEDICAL INSURANCE OPT-OUT. Any employee who voluntarily wishes to forego coverage by the District may do so annually, provided such employee provides the District proof of alternate health insurance coverage. The individual electing to opt out of his or her medical coverage will be reimbursed $750 per year if single coverage or $1,000 per year if family coverage.
MEDICAL INSURANCE OPT-OUT. Any employee who voluntarily wishes to forego coverage by the District may do so annually, provided such employee provides the District proof of alternate health insurance coverage. The individual electing to opt out of his or her medical coverage will be reimbursed $750 per year if single coverage or $1,000 per year if family coverage. If two faculty members are married to each other and have children, the District shall be required to provide family coverage under the foregoing plans to only one of them (i.e., the one designated in a statement signed by both of them). The District will pay the then-current insurance buy out to the other spouse (i.e. the one designated in a statement signed by both spouses.) However, if two faculty members are married to each other and do not have children, neither shall be entitled to a family plan, but each shall be entitled to a single plan. In order to receive this payment, an employee must notify the business office of the District during the annual enrollment period of the plan or at the employee’s date of hire. Payment will be made in the last paycheck of the fiscal year after the employee makes known his/her decision not to participate in the District’s health insurance program. Upon written notification to the business office by the employee to forego health insurance coverage, the District will annually continue to pay the annual payment unless the employee informs the District of his/her desire to participate in the District’s health insurance program. Once the employee makes an election not to participate in the health insurance plan, such employee must remain out of the Plan until July 1st of the next fiscal year provided, however, that if such employee provides proof of a loss of alternate health insurance coverage due to a catastrophic event (such as the loss of the employee’s spouse’s employment) such employee shall be permitted to obtain health insurance subject to the terms of the District’s health insurance plan, and any buy-out payment accruing prior to that employee obtaining such coverage shall be prorated. In the event that the individual has not been in the HMO plan for five (5) years, but has been employed by the District in excess of five (5) years, the individual has the option to remain in the HMO or purchase the Traditional plan. Any employee who returns to the District’s health insurance plan as a result of such a catastrophic event shall pay a portion of the health insurance premium pursuant...
MEDICAL INSURANCE OPT-OUT. For the period of November 16, 2021 until March 25, 2022, the following are the opt-out amounts that would be provided to employees in the unit who opt-out of medical insurance
