Opt-Out Incentive. 1. The Board will pay an annual Opt-Out Incentive to unit members who opt-out of the Board’s major medical health insurance plan on or before September 1st of each year. The opt-out incentive shall be paid as follows: Family Plan: $4,200 Single Plan: $2,400
Opt-Out Incentive. Employees that have comprehensive medical coverage other than through a state or federal exchange, may choose to “opt out” of participation in the city sponsored plan. If employees opt out, they will receive a portion of the monthly premium savings that can be used to offset the cost of other benefits or receive it as taxable compensation in their paychecks throughout the year. The amount the employee can receive depends on their eligible coverage level, as shown in this chart: Eligible Coverage Level* Annual Opt-Out Amount Family Coverage $2,400 2-Person Coverage $1,600 Single Coverage $1,000 *Eligible coverage level refers to the number of eligible dependents the employee has. To opt out, employees must provide proof of comprehensive insurance coverage elsewhere.
Opt-Out Incentive. Any employee who elects not to participate in the Board offered health insurance plan and stays out of the District’s Health Plan for 12 months (July 1 – June 30) will receive an annual cash payment. The cash payment will be $3,000.00 if the employee is eligible to participate in a family plan and $1,500.00 if the employee is eligible to participate only in a single plan. If an employee who has elected not to participate in the Board offered health insurance plan resigns or is terminated effective prior to the end of the school year, the cash payment to which the employee is entitled will be 8.33 percent of the applicable dollar amount for each full month the employee has been employed since the preceding July 1. An employee electing not to participate in the health insurance plan will not pay the employee’s portion of the health insurance premiums. The deduction for health insurance premiums will commence again when the employee elects to come back to the District’s Health Insurance Plan. The annual cash payment will be made along with the employee’s second pay in July, commencing with the year following the election to opt out. If a husband and wife are both employees of the Board eligible to participate in the Board offered health insurance plan, neither is eligible for this opt-out incentive. No incentive will be paid for switching from a family to a single plan. The election to opt out must be made in writing annually on or before the first day of July, or at such other time as a qualifying event may occur that would permit a change in health insurance coverage to be requested and will remain in effect through the next June
Opt-Out Incentive. The Board will pay an annual opt out incentive to unit members who opt-out of the Board’s health insurance plan on or before September 1st of each year (for the 2015-2016 contract year this date is extended to October 1st). The opt-out incentive shall be paid as follows: Family Plan: $4,200; and Single Plan: $2,400. Xxxxxx, Xxxxxx 9/11/2015 8:45 AM Deleted: school Xxxxxx, Xxxxxx 9/11/2015 8:45 AM Deleted: ,
Opt-Out Incentive. Effective January 1, 1999, employees will be able to opt out of medical coverage if they have alternative coverage. The opt out payment will be equal to one-third of the cost for the employee’s applicable HMO dependent status tier.
