Opt-Out Provision. 1. The Board agrees to establish a Section 125 (I.R.S. Code) Plan for the purpose of making available a cash option. If an employee selects the cash option, it shall be included in the employee’s gross income as compensation. If an employee selects the insurance coverage, the value of such coverage is excludable in the employee’s gross income as compensation.
Opt-Out Provision. Employees receiving employee only health insurance coverage may exercise their option to opt-out of such health insurance coverage if they have alternative coverage through another source. In such a case, the employee will receive $200 per month. Employees must opt-out prior to the 15th of the month preceding the month on which the opt-out will be effective. The Hospital will establish a Health Insurance Advisory Committee to include two (2) representatives of the bargaining unit. The purpose of the committee will be to review claims experience, utilization and trends in the insurance industry. The committee will be a forum to ask questions, to address concerns and to make recommendations regarding the insurance plan. The committee will meet quarterly.
Opt-Out Provision. The County will provide a contribution to a VEBA account in the amount of $125 per month (paid on the first two pay periods of the month) for eligible employees that choose to opt out of the County’s medical, dental and vision insurance plans. In order to qualify for the Opt Out contribution, the employee must provide proof that they are covered by another qualified group health plan that meets the minimum value requirements set forth in the Affordable Care Act.
Opt-Out Provision. Eligible employees’ may elect to “Opt Out” of the County provided health/dental/vision coverage and shall receive $250.00 per month.
Opt-Out Provision. 16.3.1 So long as the District’s insurance benefits practices/providers allow it, bargaining unit members (full-time and part-time) who can prove government or employer provided group coverage from an employer may opt out of $1800 (prorated for part- time bargaining unit members).
Opt-Out Provision. 4.1. While the Parties intend that Xxxxxx shall act as mediator and if necessary, arbitrator of their dispute, each of the Parties and the Mediator-Arbitrator shall have the option at the end of the meditation phase to opt out of him continuing on as arbitrator.
Opt-Out Provision. An MBU who elects to not participate in the District’s medical coverage shall receive an annual payment of Four Hundred Fifty Dollars ($450.00) in April of the following year. This amount will be prorated for new hires.
Opt-Out Provision. Bargaining unit members who work 20 or more hours per week, and therefore qualify for the Board-sponsored health insurance plan,(if hired before 12/31/2004 they qualify if they work 15 hours or more and if hired after 12/31/2012 they must work 25 hours to qualify) who choose not to enroll in the Board-sponsored health insurance shall be paid $500 if the bargaining unit member qualifies for a family plan or $250 if the bargaining unit member qualifies for a single plan. Such payment shall be made one time per year. This cash, in lieu of insurance coverage option, is not available to bargaining unit members who are receiving retirement benefits through SERS or any other state sponsored retirement plan or those employees whose spouse is employed by the Board and is currently receiving health insurance coverage through a Board- sponsored plan. To be eligible for this opt-out payment, the employee must provide proof of other insurance coverage that is not through the Insurance Marketplace.
Opt-Out Provision. Employees who are eligible to be covered by insurance through their spouse’s employer, or elsewhere, may opt-out of the City’s health and prescription drug insurance and receive $250.00 per month in lieu of coverage. If such an election is made and the employee’s eligibility for the alternative coverage ceases for any qualifying reason, the employee and their eligible dependents may immediately re-enroll into the City’s health insurance plan then available. The opt-out payment will be made in arrears on the first payroll of each month. An employee may receive the monthly opt-out payment as a taxable, cash benefit, or they may elect to deposit the payment into their deferred compensation account. The opt-out payment shall not be considered as income for fringe benefit purposes (including, but not limited to, pension contributions, computation of final average compensation, or determination of salary for life insurance). Effective January 1, 2019, employees who are eligible to be covered by insurance through their spouse’s employer, or elsewhere, may opt-out of the City’s health and prescription drug insurance and receive an amount equivalent to the premium sharing amount that would apply for the level of coverage being waived. In the event an employee electing to opt-out is covered by insurance through the City of Trenton, either as a spouse or dependent, the opt-out rate for single coverage shall apply.
Opt-Out Provision. Full-time school district employees who currently carry medical insurance coverage through the school district or newly hired full-time employees may choose to opt out of the Board medical insurance program and receive an annual stipend of $1,500 to be paid by February 20 following the declining of medical insurance during open enrollment in each policy year (policy year runs from January 1 through December 31). Payment of the opt-out stipend shall be made through payroll with applicable deductions made. Full-time school district employees with a spouse may choose the opt-out provision for the spouse only, and carry a single or employee plus children plan and receive the annual stipend of $1,500. Those employees who work less than a full work day will receive an equivalent percentage of the stipend (example: a teacher who works ½ day would receive $750). The employee who intends to exercise the opt-out provision must notify the District Treasurer prior to the end of the open enrollment period of the applicable year or must notify the District Treasurer within 30 days of employment with the District. In order to be reinstated in the school district plan, one of the following conditions must be met:
