Opt-Out Benefits Clause Samples
The Opt-Out Benefits clause allows individuals or parties to decline participation in certain benefits or programs offered under an agreement. In practice, this means that an employee or participant can choose not to receive specific benefits, such as health insurance or retirement plans, often by providing written notice to the employer or provider. This clause serves to respect personal preferences or accommodate alternative arrangements, ensuring that participation in benefits is voluntary and not mandatory.
Opt-Out Benefits. Eligible employees electing to opt-out of the Board-approved health insurance plan shall receive an incentive payment in accordance with the following table (the incentive payment will be pro-rated for employees who opt out of the insurance program for less than the full contract year): 4 or less $1,500 5-6 2,750 7-10 6,000 11 or more 7,000
Opt-Out Benefits. Eligible unit members electing to opt-out of the Board-approved health insurance plan shall receive an incentive payment in accordance with the following table: (The incentive payment will be pro-rated for employees who opt-out of the insurance program for less than the full contract year.) Number of unit members opting out of insurance plan Amount of incentive per member for single plan opt-out Amount of incentive per member for family plan opt-out 9 or less $ 750.00 ($62.50 per mo.) $1,500 ($125.00 per mo.) 10-11 937.50 ($78.13 per mo.) 1,875 ($156.25 per mo.) 12-14 1,125.00 ($93.75 per mo.) 2,250 ($187.50 per mo.) 15-17 1,350.00 ($112.50 per mo.) 2,700 ($225.00 per mo.) 18-29 1,500.00 ($125.00 per mo.) 3,000 ($250.00 per mo.) 30-34 2,500.00 ($208.33 per mo.) 5,000 ($416.67 per mo.) 35 or more 3,000.00 ($250.00 per mo.) 6,000 ($500.00 per mo.)