Payment in Lieu of Insurance Coverage Sample Clauses

Payment in Lieu of Insurance Coverage. An Employee, who was receiving Board covered medical and prescription insurances under Section 1 or an employee who was eligible for partial or full medical insurance coverage and who was receiving payment in lieu of insurance coverage under Section 3, as of June 30, 2006 and any subsequent current employee who uses the healthcare insurance as of June 30, 2006 or new employee may elect not to receive the Health Insurance coverage provided in Section 1 and instead elect to receive additional compensation, less applicable payroll deductions, according to the following table: 7+ hour employees $5000 (Family), $1,500 (Single) 5 - 6.9 hour employees $2,500 (Family), $1,000 (Single) 4 - 4.9 hour employees $1,000 (Family), $350 (Single) In order to elect this option and receive this additional compensation, the employee must, by April 30th (June 15th in the first year of the contract), prior to the year for which they want to be paid, complete, sign and file with the Treasurer of the Board a letter indicating his/her election. Payment will be made one year later in the following July (i.e. Notice June, 2019, payment July, 2020). Once this election is made, it shall remain in effect and the Employee shall not be entitled to receive the coverage provided above for the duration of the one-year period. In the event of a change in the Employee’s circumstances (e.g., divorce, death of spouse, spouse loses insurance coverage) after this election has been made, the Employee may elect to receive the insurance coverage. The employee must notify the Treasurer’s Office in writing of the change in circumstance. The employee must provide documentation of the change of circumstances at the time of notice. Coverage will commence within seven (7) days of the receipt of the notice in the Treasurer’s Office. There shall be no pre-existing condition exclusion for any Employee who re-enters the insurance program provided above after originally electing not to participate in said program. Newly hired employees who are eligible for healthcare benefits may, at the time of hire, elect not to take health coverage by submitting a letter and filing it with the Treasurer’s Office. The newly hired employee would be eligible for a prorated amount of the above table based on their service (i.e. a new employee hired October 1st would work 9 out of 12 months, 75% and, if they declined health insurance, they would receive 75% of the qualifying amount in July).
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Payment in Lieu of Insurance Coverage a. An Employee, working forty (40) hours per week, may elect not to receive the board insurance coverages provided above and instead elect to receive additional compensation of $5,000 (family plan) or $1,500 (single plan) per year, less applicable payroll deductions.
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Payment in Lieu of Insurance Coverage. 1. Any bargaining unit member currently covered under either the single or family coverage of the District’s insurance plan(s), or any newly hired employee who declares in writing to the Treasurer that he/she is covered under another insurance plan and/or elects not to be covered by the Board plan for the entire year may opt out of the Board plan(s) and shall be paid $1,500.00 for medical insurance, and/or $350 for dental insurance, and/or $100 for vision insurance (prorated for persons who have prorated insurance to the same percentage as paid by the Board for prorated insurance). This amount, less applicable payroll deductions, will be paid to eligible and qualifying individuals with the first pay in October the following year, through the Board’s qualified Section 125 Plan.
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Payment in Lieu of Insurance Coverage. The City will pay to eligible Employees, under the condi- tions herein set forth, an annual amount in lieu of insurance coverage. All payments shall be for the twelve (12) billing periods (January through December) of each year and shall be paid immediately prior to December 1. The payment shall be made as an adjustment to a regular pay check, and only those Employees who are entitled to a regular pay check the first day in December shall be entitled to the payment in lieu of insurance coverage. For the purpose of this Article only, Employees shall be determined to be "entitled to a regular paycheck" if the Employee has not quit, resigned or been discharged on the date the check is paid, i.e., the date shown on the check. (For example, an Employee who is on approved leave of absence, suspension, layoff or WO will be determined as being "on the payroll" for the purpose of payment in lieu of insurance coverage.) If an otherwise eligible Employee is not at work on the date the check is paid, the check shall be sent to the Employee's last known address. If the check is returned to the City, the Employee must claim the check from the City within sixty (60) days or the check will be voided, and the Employee shall forfeit any right to a payment in lieu of insurance coverage for that period. Any Employee who is eligible for hospitalization insurance, at City expense, pursuant to the Article entitled Hospitalization Insurance, but who elects not to be covered by said insurance, shall be entitled to a payment of $100.00 per billing period for any billing period during which hospitalization insurance was not provided for said Employee at City expense. Any Employee who is eligible for dental insurance, at City expense, pursuant to the Article entitled Dental Insurance, but who elects not to be covered by said insurance, shall be entitled to a payment of $5.00 per billing period for any billing period during which dental insurance was not provided for said Employee at City expense.
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Payment in Lieu of Insurance Coverage. Administrative Team members who waive health insurance coverage are entitled to a cash payment of $2,000 payable no later than the last paycheck in June. In order to execute his/her right under this option, the employee must fully execute the “Waiver of Health Insurance Benefit Form”, (Appendix 8). A Team member who had obtained other coverage and had waived coverage shall be entitled to reinstate his/her insurance coverage as provided for in Section 125 of the Internal Revenue Code and/or subject to the insurance plan enrollment period. Once the insurance coverage is reinstated, the extra payment, which will be paid with the June paycheck, shall be pro-rated for the amount of time the employee did not have insurance. The District shall establish this provision in a manner consistent with and to meet all requirements of Section125 of the Internal Revenue Code as amended.
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Payment in Lieu of Insurance Coverage. The City will pay to eligible Employees, under the conditions herein set forth, an annual amount in lieu of insurance coverage. All payments shall be for the twelve (12) billing periods immediately prior to December 1. The payment shall be made as an adjustment to a regular pay check, and only those Employees who are entitled to a regular pay check the first day in December shall be entitled to the payment In lieu of insurance coverage. Any Employee who Is eligible for hospitalization insurance, at City expense, pursuant to the Article entitled Hospitalization Insurance, but who elects not to be covered by said insurance, shall be entitled to a payment of $20.00 per billing period during which hospitalization insurance was not provided for said Employee at City expense. Effective February 1, 1994, payment in lieu of hospitalization insurance coverage shall increase to $50 per billing period. Effective July 1, 1995, increase to $100 per billing period. Any Employee who is eligible for dental insurance, at City expense, pursuant to the Article entitled Dental Insurance, but who elects not to be covered by said insurance, shall be entitled to a payment of $5.00 per billing period for any billing period during which dental insurance was not provided for said Employee at City expense.
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Payment in Lieu of Insurance Coverage. The City will pay to eligible Employees, under the conditions herein set forth, an annual amount in lieu of insurance coverage. The first payment, to be made on or before December 15, shall be for the twelve (12) billing periods immediately prior to December
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Payment in Lieu of Insurance Coverage. An employee currently enrolled in and otherwise eligible for Board payment for health insurance coverages may elect to have no such coverages (with the exception of life insurance) for an entire school year and so receive an annual payment, subject to appropriate withholdings, as follows:
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Related to Payment in Lieu of Insurance Coverage

  • Proof of Insurance Coverage As preliminary evidence of compliance with the insurance required by the contract, the company will furnish the Authority with a certificate(s) of insurance satisfactory to the Authority. This certificate must be signed by an authorized representative of the insurer. If requested by the Authority, the company will, within 15 days after receipt of written request from the Authority, provide the Authority, or make available for review, certificates of insurance, copies of required endorsements and/or a certified complete copy of the policies of STANDARD PROCEDURE Number: S250.06 Effective: 05/31/02 Aviation Authority Revised: 12/11/14 Page: 4 of 7 Subject: CONTRACTUAL INSURANCE TERMS AND CONDITIONS insurance. The company may redact those portions of the insurance policies that are not relevant to the coverage required by the contract. The company will provide the Authority with renewal or replacement evidence of insurance, acceptable to the Authority, prior to expiration or termination of such insurance. The insurance certificate must:

  • Insurance Coverages The Contractor shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City:

  • Evidence of Insurance Cover All insurances obtained by the Concessionaire in accordance with this Article 32 shall be maintained with insurers on terms consistent with Good Industry Practice. Within 15 (fifteen) days of obtaining any insurance cover, the Concessionaire shall furnish to the Authority, notarised true copies of the certificate(s) of insurance, copies of insurance policies and premia payment receipts in respect of such insurance, and no such insurance shall be cancelled, modified, or allowed to expire or lapse until the expiration of at least 45 (forty five) days after notice of such proposed cancellation, modification or non-renewal has been delivered by the Concessionaire to the Authority.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Other Insurance Coverage When another policy is in existence which provides benefits also covered by this policy, benefits will be coordinated. All claims incurred in the country of residence must be made in the first instance against the other policy. This policy shall only provide benefits when such other benefits payable under the other policy have been exhausted. Outside the country of residence, Bupa Insurance Company will function as the primary Insurer and retains the right to collect any payment from local or other insurers.

  • Life Insurance Coverage a. Fifteen Thousand ($15,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. Such insurance shall pay double in the case of accidental death or dismemberment.

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • MAINTENANCE OF INSURANCE COVERAGE Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Insurance Cover Without prejudice to the provisions contained in Clause 26.1, the Concessionaire shall, during the Operation Period, procure and maintain Insurance Cover including but not limited to the following:

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