Premium Reduction Program Sample Clauses
The Premium Reduction Program clause establishes a mechanism by which policyholders can qualify for reduced insurance premiums, typically by meeting certain criteria or participating in specified activities. For example, the clause may require the insured to implement safety measures, complete training programs, or maintain a favorable claims history to become eligible for premium discounts. Its core practical function is to incentivize risk-reducing behavior among policyholders, thereby lowering the insurer's exposure to claims and rewarding responsible conduct with financial savings.
Premium Reduction Program. The Medical Center will continue to offer 16 a Premium Reduction Program through the duration of this Agreement. Through this 17 benefit, eligible Nurses may receive financial assistance to cover one hundred percent 18 of the cost of their Employer provided medical premiums. 19 Participation in this program is based on total household income and the Federal 20 Poverty Level, as determined by the U.S. Department of Health and Human Services. 21 Employees whose household income is less than two hundred fifty percent of the 22 Federal Poverty Level will be eligible to receive a health insurance plan at no premium 23 cost to the employee for themselves and eligible dependent(s) the first of the month 24 following the approval of their application.
Premium Reduction Program. The Medical Center will continue to offer a Premium Reduction Program through the duration of this Agreement. Through this benefit, eligible Nurses may receive financial assistance to cover 100% of the cost of their Employer provided medical premiums. Participation in this program is based on total household income and the Federal Poverty Level, as determined by the U.S. Department of Health and Human Services. Employees whose household income is less than 250% of the Federal Poverty Level will be eligible to receive a health insurance plan at no premium cost to the employee for themselves and eligible dependent(s) first of the month following the approval of their application.
Premium Reduction Program. The Employer will continue to offer the Premium Reduction Program through the duration of this agreement. Through this benefit, eligible employees may receive financial assistance to cover one hundred percent (100%) of the cost of their Employer provided medical premiums. Participation in this program is based on total household income and the Federal Poverty Level, as determined by the U.S. Department of Health and Human Services. Employees whose household income is less than 250% of the Federal Poverty Level will be eligible to receive a health insurance plan at no premium cost to the employee for themselves and eligible dependent(s) upon approval of their application.
Premium Reduction Program. The Medical Center will continue to offer
Premium Reduction Program. The Medical Center will continue to offer a Premium Reduction Program through the duration of this Agreement. Through this benefit, eligible nurses may receive financial assistance to cover 100 percent of the cost of their Employer provided medical premiums.