Option to Health Insurance Sample Clauses

Option to Health Insurance. BENEFIT Full time administrators who are members of the Avondale Administrators Association Bargaining Unit may apply for the following benefit in lieu of Health Care Insurance as provided by the District: The District will provide a cash option to health insurance benefits. The cash amount will be distributed over (10) months September through June. The payment will be calculated using the formula below:
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Option to Health Insurance. BENEFIT Full time administrators who are members of the Avondale Administrators Association Bargaining Unit may apply for the following benefit in lieu of Health Care Insurance as provided by the District: The District will provide a cash option to health insurance benefits. The cash amount will be distributed over (10) months September through June. The payment will be calculated using the the formula below: • 1 association member participating = 27% of annual premium of qualified plan paid over (10) months • 2 association members participating = 33% of annual premium of qualified plan paid over (10) months • 3 or more association members participating = 39% of annual premium of qualified plan paid over (10) months Rate will be calculated July 1, 2009 for the health care cash option. The District will formally adopt a qualified plan document which complies with Section 125 of the Internal Revenue Code. The amount of the cash payment received may be applied by the administrator to any Tax-Deferred/Sheltered Annuity selected by the administrator with a company that is a District approved carrier. The benefit will be paid monthly. This choice is in lieu of Health Care Insurance, as described in Section 20.3.1 of this Master Agreement. • RULES Administrators who work full-time, but less than a full year will have the amount offered prorated to reflect the number of months worked. To receive credit for a month the employee must be on the payroll on the tenth of the month. The administrators may select the alternative benefit during the first ten (10) days of any month during the school year (September - June), and receive the benefit for that month. In order to receive this TSA benefit, the Administrator must show proof of Health Care Insurance from another source.
Sample 1
Option to Health Insurance. BENEFIT: Teachers who are members of the AEA Bargaining Unit may apply for the following benefit in lieu of Health Care Insurance as provided by the District. The District will provide a cash option to health insurance benefits. The cash amount as listed below will be for ten (10) months September through June. The District will formally adopt a qualified plan document which complies with Sections 125 of the Internal Revenue Code. The amount of the cash payment received may be applied by the teacher to any Tax-Deferred/Sheltered Annuity selected by the teacher with a company that is a District approved carrier. The benefit will be paid monthly. Teachers will be allowed to split their monthly opt out cash payment between a 403.b account (as noted above) and their paycheck. All AEA FTE that participate: Six hundred dollars ($600.00) per month for ten (10) months for a subscriber for Single, two (2) person, or Full Family.
Sample 1

Related to Option to Health Insurance

  • Health Insurance The Couple agrees that: (check one) ☐ - Each Spouse is responsible for THEIR OWN health insurance. ☐ - Health insurance IS PROVIDED by ☐ Husband ☐ Wife (“Health Insurance Paying Spouse”) to ☐ Husband ☐ Wife (“Health Insurance Receiving Spouse”). Health insurance shall include: (check all that apply) ☐ - Medical ☐ - Dental ☐ - Vision Care ☐ - Other. . To facilitate the use of such coverage for the Health Insurance Receiving Spouse, the Health Insurance Paying Spouse shall cooperate fully and in a timely manner, including, but not limited to, obtaining and providing all necessary insurance cards and claim forms, completing and submitting all necessary documents, and delivering all insurance payments.

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

  • Retirement Health Insurance Subd. 1. Benefit Eligibility for Employees who Retire Before Age 65

  • Group Health Insurance Immediately following retirement, the teacher shall have the option of remaining in the Corporation’s current group health insurance plan if all of the following conditions are met as of the date of retirement and thereafter:

  • Ontario Health Insurance Plan The parties recognize that the method of funding OHIP has been changed from an individually paid premium to a system funded by an employer paid payroll tax. If the government, at any time in the future, reverts to an individually paid premium for health insurance, the parties agree that the Colleges will resume paying 100% of the billed premium for employees.

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 18 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 18 months after the date of Executive’s separation from service.

  • Health Insurance Plan (Excluding Summer Students Regardless of Wage Schedule Paid From) These employees shall be considered as a group in order that they may apply to participate in the Supplementary Plan and the Extended Health Benefit Plan at group rates. One hundred percent (l00%) of all premiums will be paid by the employees. The Company will pay one hundred percent (l00%) of the Ontario Health Insurance Plan premium for temporary employees who have four months' accumulated service.

  • Health Insurance Committee The UFF-USF-GAU President will appoint one (1) employee to serve on the University's Student Health Insurance Committee.

  • Health Insurance Coverage (a) An employee who is laid off or separated from employment on or after July 1, 1994, under circumstances which entitle such employee to reemployment rights under this Article, other than pursuant to Section 23, may elect to continue membership in their health benefit plan, upon advance payment of the regular percentage contribution to the cost of the plan, during the first six

  • Health insurance premiums If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your IRA to pay for health insurance premiums without incurring the 10 percent early distribution penalty tax. 6)

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