Medical Insurance Opt-Out Payment Sample Clauses

Medical Insurance Opt-Out Payment. Employees who opt-out of the City’s group medical insurance plan and who meet the federal legislative requirements for a “conditional opt-out payment” (i.e., provides reasonable evidence at least annually that they and all members of their tax family have minimum essential coverage from an alternate group plan, e.g., a spouse’s or parent’s plan, a union plan, Medicare or Medicaid, Tricare, Champus, or Florida Kid Care) shall receive an annualized $4,000, prorated and paid through the biweekly payroll. However, those who enroll in individual or marketplace plans or do not otherwise meet the requirements for a conditional opt-out payment shall not be eligible for any opt-out payment. If the federal legislation affecting conditional opt-out payments changes, either party may request a reopener of this Article within thirty (30) days of the effective date of the change.