Common use of Option Benefits Clause in Contracts

Option Benefits. A. Employees eligible for hospitalization coverage through the Employer, who are covered by an alternative source (example: spouse's employer), must elect to do one (1) of the following options: 1. Drop the coverage of the alternative source and retain coverage through the Employer, or 2. Drop the coverage through the Employer, and retain through an alternative source. B. If the employee chooses Option 2, then the Employer will pay: seventy‐five (75%) percent of the single subscriber rate per month to be used toward the purchase of available option programs through the Employer designated carriers. In addition to the option programs the employee may choose cash in lieu of the options programs. This rate will be frozen at the 2003/04 rate of $317.57 for the duration of this contract.

Option Benefits. A. Employees eligible for hospitalization coverage through the Employer, who are covered by an alternative source (example: spouse's employer), must elect to do one (1) of the following options: 1. Drop the coverage of the alternative source and retain coverage through the Employer, or 2. Drop the coverage through the Employer, and retain through an alternative source. B. If the employee chooses Option 2, then the Employer will pay: seventy‐five seventy-five (75%) percent of the single subscriber rate per month to be used toward the purchase of available option programs through the Employer designated carriers. In addition to the option programs the employee may choose cash in lieu of the options programs. This rate will be frozen at the 2003/04 rate of $317.57 for the duration of this contract.