Opt Out Benefit. Members eligible for a District insurance contribution, but who choose not to obtain insurance coverage may "opt out" from the insurance year, in accordance with the underwriting rules and regulations as set forth by OEBB.
Opt Out Benefit. Employees who decline Township-sponsored medical insurance coverage will be provided a return of savings realized by the Township in an annual amount of $2,000.00, payable in two (2) $1,000.00 installments. But opt-out benefits will not apply in cases where both spouses are employed by the Township.
Opt Out Benefit. Participants in this Plan who choose to opt out of District provided single healthcare benefits are eligible for payment in the amount of $150 per month ($1,800 per year) for opting out of employee only coverage. Participants in this Plan who choose to opt out of District provided employee/spouse, employee/child, employee/children and family healthcare benefits are eligible for payment in the amount of $300 per month ($3,600 per year) for opting out of family or other types of coverage. Proof of existing coverage in each situation to qualify for this cash payment is required. Any cash payment under this plan is subject to all applicable local, state and federal income taxes. The Participant will have the annual option to enroll in the District’s medical insurance plan. However, if Participant experiences any family status change during a plan year, Participant will be allowed to re-enroll after providing proof of any of the following qualifying events: marriage/divorce, birth/adoption of child, death of a spouse or child, change in spouse’s employment status, change in spouse or dependent medical insurance coverage, or dependent reaching 26 years of age.
Opt Out Benefit. The Village will offer its optional insurance incentive program to bargaining unit members who opt out of the Union’s group health and dental insurance plan. To participate in the program, an employee must provide proof of alternative insurance coverage (i.e. through a spouse’s health and dental insurance plan). Employees participating in the program will receive an annual monetary incentive in accordance with Village policy, and the Village will not make a contribution to the Union’s group insurance plan.
