Premium Costs Sample Clauses
The Premium Costs clause defines which party is responsible for paying the premiums associated with an insurance policy under the agreement. Typically, it specifies whether the insured, the policyholder, or another party must cover the cost of maintaining required insurance coverage, and may outline the timing and method of payment. This clause ensures there is no ambiguity regarding financial responsibility for insurance premiums, thereby preventing disputes and ensuring continuous coverage throughout the contract term.
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Premium Costs. The premium costs for the above benefits shall be shared seventy-five percent (75%) by the Employer and twenty-five percent (25%) by the employee.
Premium Costs. Where an employee who has acquired six (6) months accumulated does not earn sufficient wages in a month to cover his/her portion of benefit costs, the Board will carry forward the employee's share and deduct the carried forward premiums from the earnings of the employee for the following month. Where the Board has carried forward such an employee's premium and the employee fails to return to duty the month following, the Union will reimburse the Board for the employee'sshare of premium benefits carried forward from the previous month.
Premium Costs. Employees with less than two (2) years seniority will pay twenty-five percent (25%) of the premium costs and the Company will pay seventy-five percent (75%).
Premium Costs. Premium costs under the medical plans are controlled by the concept that both the District and the employee shall share in payment of the premium cost for both employee and dependent coverage. Effective upon ratification of this Agreement, the employee shall pay fifteen percent (15.0%) of the premium for the type of coverage selected (e.g., single, plus one, or family) under the applicable plan, and the District shall pay the remainder.
Premium Costs. 3.1.1 The City shall continue to pay 80% of the premium for the City approved health and dental and vision insurance plans chosen by each employee.
Premium Costs. The District will provide health insurance through the Blue Cross EPO (Exclusive Provider Organization) and the Blue Cross PPO (Preferred Provider Organization) plans. The District will provide dental insurance through a self-funded, point of service plan that will be administered by Delta Dental.
Premium Costs. 1. The foregoing Medical and Dental Benefits Program, either separate or combined, shall be provided to eligible employees. Eligible employees will contribute toward the cost of coverage based on the following schedules: MEDICAL BOARD Monthly Contribution of Premium Cost Employee Monthly Contribution of Premium Cost Regular Full-time: Contracted five (5) hrs. or More per Day 85% 15% Regular Part-time: Contracted Three (3) hrs., but Less Than Five (5) hrs. per Day 66% 34% Contracted One (1) hr., but Less Than Three (3) hrs. per Day (Available only to Employees whose first date of work is BEFORE July 1, 2017) 50% 50% Contracted less than three (3) hours per day whose first date of work is on or AFTER July 1, 2017 Not eligible Not eligible DENTAL BOARD Monthly Contribution of Premium Cost Employee Monthly Contribution of Premium Cost Regular Full-time: Contracted 8 hrs. per day for twelve (12) months per year 90% 10% Part -time: Contracted at least five (5) hours per day 75% 25% Contracted less than five (5) hrs. per day 0% 100%
2. The BOARD and employees will share, as described in 20.01 B 1., up to 13.5% of the medical insurance premium increase over the previous year's premium rate. If there is an increase of more than 13.5%, the employees shall pay the increased premium above 13.5%. It is understood that this will change Board and employee premium shares as described in 20.01 B 1. The percentage rate for the employee will not drop below 15%.
3. The BOARD and employees will share, as described in 20.01 B 1., up to 18% of the dental insurance premium increase over the previous year's premium rate. If there is an increase of more than 18%, the employees shall pay the increased premium above 18%. It is understood that this will change Board and employee premium shares as described in 20.01 B 1. The percentage rate for the employees will not drop below 10%.
4. When notification of an impending increase in excess of the amount(s) described in 20.01 B2 and/or number 3 above is received by the BOARD, an immediate notification will be forwarded to the ASSOCIATION President and the Insurance Program Review Committee.
5. All costs billed by the medical/dental benefits Provider or any insurance carrier in excess of the BOARD's contribution for such benefits shall be paid by the employee electing this coverage and may be deducted from the employee's first two (2) pays in the month the premium is paid by the BOARD. If the wages due the employee in such pays is not suff...
Premium Costs. 1) The Board will pay eighty-four percent (84%) of the premium share and the employee will pay sixteen percent (16%) of the premium share, effective July 1, 2017, for the following coverages: single; employee and spouse; employee and dependent children; and family (employee, spouse and dependent children). Effective January 1, 2018, any MBU who chooses not to participate in each of the four aspects of the Wellness Program outlined below will pay an eighteen percent (18%) premium share for the subsequent calendar year. Employees who do not choose to participate in the Wellness Program in any given year of this Negotiated Agreement have the opportunity to participate in the Wellness Program during the following year of this Negotiated Agreement and the rate of the employee’s premium share will return back to the reduced rate of sixteen percent (16%) if proof of participation is provided. For example, if an employee does not participate in the Wellness Program in the calendar year 2017 (i.e. January 1, 2017 through December 1, 2017) then the employee’s premium share will increase from sixteen percent (16%) to eighteen percent (18%) effective January 1, 2018. If the employee chooses to participate in Wellness Program the subsequent calendar year (i.e. January 1, 2018 through December 1, 2018) then the employee’s premium share will be reduced back to sixteen (16%) effective January 1, 2019.
2) Wellness Program
(1) an annual Body Mass Index (BMI); (2) an annual physical examination; (3) an annual health risk assessment; and (4) annual professional development related to the District’s insurance program. Effective January 1, 2018, any MBU who chooses not to participate in each of the four aspects of the wellness program outlined above will pay an eighteen percent (18%) premium for the subsequent calendar year. The Board will provide opportunities for MBUs to participate in the wellness program on site at no charge and will consider documentation of participation from January 1 to December 1 to satisfy the wellness components. The Insurance Committee will study functional medicine and an onsite minute-clinic with nurse practitioner.
Premium Costs. The Company confirms that the cost of health care plans will be paid 100% by the Company. If the government changes it’s position regarding OHIP procedure payments, the Company will comply with the new regulations.
Premium Costs. A. Full time regular Employees may enroll in the Employer group health insurance plan with the Employer paying 90% of the Employees' and dependents' health insurance premium. The Employee shall pay the remaining 10% of the health insurance premium through payroll deduction.
B. The Employer will pay a portion of the cost of health insurance premiums for part-time regular Employees, based on a ratio of the hours they actually work in a forty- hour workweek.