Common use of Premium Reductions Clause in Contracts

Premium Reductions. In the event that any Company paid premiums for benefits covered under this Collective Agreement; and/or any government premiums are subsequently reduced and/or eliminated for any reason(s), such premium reduction(s) and/or elimination shall be the sole property of the Company. The Employer may substitute another carrier for the foregoing plans, provided the level of benefits are not decreased. The Employer will advise the Union prior to implementing any change.

Premium Reductions. In the event that any Company paid premiums for benefits for: Benefits covered under this Collective Agreement; and/or any government premiums are subsequently reduced and/or eliminated for any reason(s), ) such premium reduction(s) and/or elimination shall be the sole property of the Company. The Employer may substitute another carrier for the foregoing plans, provided the level of benefits are not decreased. The Employer will advise the Union prior to implementing any change.