Method of Payment/Insurance Premium Share. Members shall pay a portion of the monthly premium according to the following schedule: In the first year of this Agreement, the employee shall pay nine percent (9%) of the monthly premium for single premium, not to exceed seventy dollars ($70.00), and six percent (6%) for a family premium, not to exceed one hundred dollars ($100.00). In the second year of this Agreement, the employee shall pay nine percent (9%) of the monthly premium for single premium, not to exceed seventy dollars ($70.00), and six percent (6%) for a family premium, not to exceed one hundred ten dollars ($110.00). Beginning the third year of the Agreement, the employee shall pay nine percent (9%) of the monthly premium for single premium, not to exceed seventy five dollars ($75.00), and six percent (6%) for a family premium, not to exceed one hundred fifteen dollars ($115.00).Beginning the third year of the Agreement, if the premium exceeds twenty percent (20%), then the Insurance Committee will convene to discuss ways to control costs.
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Samples: Lective Bargaining Agreement, dam.assets.ohio.gov, Lective Bargaining Agreement
