Retiree Health Insurance Benefits Sample Clauses

Retiree Health Insurance Benefits. Health insurance benefits for retirees shall be provided under this Agreement in accordance with the following: A. Eligibility for benefits under this provision shall be limited to an employee who retires from the Town of Farmington’s Pension Plan at Normal Retirement on or after the effective date of this Agreement provided they have completed at least fifteen (15) years of continuous service with the Town. Employees who retire from the Town of Farmington’s Pension Plan at Early Retirement or later on or after the effective date of this Agreement shall be eligible for retiree health insurance benefits provided they have completed at least twenty (20) years of continuous service with the Town. B. The cost of the retiree insurance program is shared equally by the Town and the retiree. The retiree may purchase coverage for a spouse or dependents at 100% of the premium cost. C. If the retiree is younger than age 65, the coverage is the same insurance package as active employees, excluding dental coverage. If the retiree is age 65 or older, the coverage is (a) Blue Cross High Option Plan or equivalent, (b) Blue Shield 65 Plan 81 or equivalent, and (c) Prescription drug rider or Prescription Drug Rider Supplement should the retiree participate in the Medicare Part D or equivalent. Any reimbursements that the Town may receive from the Federal government for providing a drug rider in lieu of Medicare Part D will be retained by the Town. D. The Town and the Union agree to form a committee to review and investigate Retiree Medical Insurance, including various funding options such as a Retiree Medical Reserve Trust Fund. Any changes to the current plan and funding mechanism will be a negotiated item for midterm bargaining.

Retiree Health Insurance Benefits. 10.11.6.1 For the period of this contract, the District agrees to pay health insurance premiums for eligible unit retirees. These payments will be made for the shortest of the following periods:

Retiree Health Insurance Benefits a. For the period of this contract, the District agrees to pay health insurance premiums for eligible unit retirees. These payments will be made for the shortest of the following periods: 1) Ten (10) years, or 2) until the retiree reaches age 65 b. Eligibility Requirements 1) Must be eligible for placement on Step E of the unit employee salary schedule. 2) Ten (10) years or more of continuous in-District service. 3) Currently assigned to a position requiring four (4) or more hours of daily and nine (9) or more months of yearly for the last three (3) consecutive years. 4) Eligible for PERS retirement.

Retiree Health Insurance Benefits. Retired full-time permanent employees with fifteen (15) years or more of full-time permanent service and their spouses or registered domestic partners may participate, at their option, in a City- provided medical, dental and vision plan after the official date of retirement until the participant becomes eligible for SSI or Medicare, whichever is sooner. Retiree pays one hundred percent (100%) of the premium for themselves and their spouse or registered domestic partner (if applicable).

Retiree Health Insurance Benefits. Health insurance benefits for retirees shall be provided under this Agreement in accordance with the following: A. Eligibility for benefits under this provision shall be limited to an employee who retires from the Town of Farmington’s Pension Plan at Normal Retirement on or after the effective date of this Agreement provided they have completed at least fifteen (15) years of continuous service with the Town. Employees who retire from the Town of Farmington’s Pension Plan at Early Retirement or later on or after the effective date of this Agreement shall be eligible for retiree health insurance benefits provided they have completed at least twenty (20) years of continuous service with the Town. B. The cost of the retiree insurance program is shared equally by the Town and the retiree. The retiree may purchase coverage for a spouse or dependents at 100% of the premium cost. C. If the retiree is younger than age 65, the coverage is the same insurance package as active employees, excluding dental coverage. If the retiree is age 65 or older, the coverage is (a) Blue Cross High Option Plan or equivalent, (b) Blue Shield 65 Plan 81 or equivalent, and (c) Prescription drug rider or Prescription Drug Rider Supplement should the retiree participate in the Medicare Part D or equivalent. Any reimbursements that the Town may receive from the Federal government for providing a drug rider in lieu of Medicare Part D will be retained by the Town.

Retiree Health Insurance Benefits. Employees that retire from the District with 20 years of service are provided with $435 per month for health insurance coverage. The monthly amount can be used for the employee or the employee and their spouse. Potential Monthly Employee Costs for Medical, Dental and Optical (as of January 1, 2021) Employee Only Employee + 1 Employee + 2 or more Medical: Blue Cross Classic Plan $117.68 $356.21 $471.98 Blue Cross Advantage - $120.83 $160.10 Blue Cross CaliforniaCare $296.90 $714.65 $946.91 Xxxxxx-Xxxxx - $39.10 $192.76 Xxxxxx-Xxxxx/Opt - $68.50 $234.36 Dental - $76.48 $153.07 Optical - $7.49 $14.99 Monthly Premiums for Medical, Dental and Optical (as of January 1, 2021) Employee Only Employee + 1 Employee + 2 or more Medical: Blue Cross Classic Plan $980.76 $1961.51 $2599.00 Blue Cross Advantage $863.07 $1726.13 $2287.12 Blue Cross CaliforniaCare $1159.97 $2319.95 $3073.93 Xxxxxx-Xxxxx $830.70 $1644.40 $2319.78 Xxxxxx-Xxxxx/Opt $845.40 $1673.80 $2361.38 Dental $61.22 $137.70 $214.29 Optical $9.37 $16.86 $24.36

Retiree Health Insurance Benefits. Employees who maintain one hundred forty-four days (1,152 hours) of unused sick leave shall be eligible to participate in the Good Attendance/Retirement Bonus Program effective January 1, 1988. Under the program and upon retirement the employee will be given a maximum of one (1) retirement insurance credit for each unused sick leave day accumulated after January 1, 1985 in excess of one hundred forty-four (144) days. In each case of an extended non-occupational injury or illness in excess of thirty (30) workdays during the ten (10) calendar years immediately preceding an employee’s retirement date an additional one-half (1/2) credit will be given for each consecutive sick day used in excess of thirty (30) workdays during said injury/illness. Effective January 1, 2010, upon retirement all accumulated retirement insurance credits will be 1 converted into cash value, at the rate of twelve (12) percent of the cost of the 2 single health insurance plan per credit.

Retiree Health Insurance Benefits. Farmers Bank will amend its retiree medical plan(s) to permit Xx. Xxxxx to be eligible to participate in the retirement hospitalization insurance that Farmers Bank maintains for its retirees in accordance with the provisions of that plan and program and on the same basis as other retired employees of Farmers Bank who may participate in the retiree medical plan and related hospitalization insurance. Xx. Xxxxx will be responsible for his portion of the monthly premium consistent with other retiree medical plan participants. The Employers represent and warrant to Xx. Xxxxx such retiree medical plan(s) satisfies the retiree-only exemption of Code Section 9831(a)(2) and Section 732(a) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Therefore, provided the Employers maintain such retiree medical plan(s) to satisfy the retiree-only exemption of the Code and ERISA (and any subsequent similar legislation), to the extent that Xx. Xxxxx’x participation in the retiree medical plan(s) would be discriminatory under Section 105 of the Internal Revenue Code or Section 2716 of the Public Health Services Act, Xx. Xxxxx shall be responsible for any taxes related to his participation which are imposed upon him by the Internal Revenue Service and state and local tax authorities. If Section 2716 of the Public Health Services Act is determined to be applicable to the retiree health plan, Farmers reserves the right, in lieu of continuing Xx. Xxxxx’x participation in the retiree health plan, to provide Xx. Xxxxx with benefits that are substantially similar to those provided under the retiree health insurance plan and at a premium cost equal to the monthly premium paid by other retiree medical plan participants.

Retiree Health Insurance Benefits. Employees hired prior to July 1, 2002, who retire and meet the continuous service requirements stated below, and the spouse of such an employee, shall be eligible for retiree health insurance as described below. The retired employee must be enrolled in the same plan as provided to other employees in the bargaining unit. If the retired employee or the retired employee’s eligible surviving spouse is required to pick-up additional premium cost, the employee shall do so as instructed by the City’s Payroll Division. If the retired employee or retired employee’s surviving spouse becomes delinquent with these payments to the City, coverage will be discontinued and will not be reinstated. For this purpose, “delinquent” shall be determined under the COBRA rules (e.g.: its mailbox rule, grace period and special rules for “insignificant” underpayments). CONTINUOUS SERVICE MAXIMUM CONTRACT COVERAGE PERIOD 20 YEARS FIRST 3 YEARS If the retired employee has at least 30 years’ continuous service with the City immediately preceding the date of retirement; is covered under the above program; and dies before the end of the five (5) year period as stated above, the City shall continue coverage for the surviving spouse (if on policy at time of death) for the remainder of the five (5) year period as allowed by the City’s plan. Coverage may be discontinued for the retiree and/or surviving spouse during the remainder of this period for reasons including, but not limited to the following:

Retiree Health Insurance Benefits. 6 1. Employees who maintain one hundred forty-four days (1,152 hours) of unused sick leave shall 7 be eligible to participate in the Good Attendance/Retirement Bonus Program effective January 1,