Retiree Medical Insurance Coverage Sample Clauses

Retiree Medical Insurance CoverageFor employees retiring on or after July 1, 2019: For employees retiring who were hired before July 1, 2007, at the regular or early retirement age of sixty-two (62) with at least fifteen (15) years of service, the Town shall continue to assume 100% of the cost of the individual health insurance premium plus $1000.00 in lieu of the employer’s HSA contribution, until such time the employee is eligible for Medicare at age sixty-five (65). The employer’s contribution shall be paid within the same timeframe as the employer’s HSA contribution payments to current employees.
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Retiree Medical Insurance Coverage. A. Effective Date - The provisions of this Section shall be effective oh April 1,2015 for all employees who retire on or after that date, subject to the eligibility provisions listed below. B. To be eligible for the retiree medical coverage benefit, the retiree must meet the following conditions: • Retire with a minimum of ten (10) years of credited service with the NFTA. • Must retire from full-time employment with the NFTA. • Must not be eligible for coverage under another medical plan if spouse is still employed. • Employee(s) who opt out of coverage under another medical plan, may re-apply for medical coverage with the NFTA upon a qualifying event at the premium rate in effect at that time. The retiree loses his or her eligibility if he or she or his/her spouse is employed or re­ employed and becomes eligible for medical coverage as a result of that employment. Upon death of the retiree, the surviving spouse will be eligible for a 50% premium contribution for single coverage only for a maximum of eighteen (18) months, provided he/she retains his/her eligibility per the above listed conditions. After an eighteen (18) month period, an eligible spouse may elect to remain in the NFTA retirees’ group and pay the full medical premium cost for single coverage. If a Employee dies in the line of duty, the Employer will provide and pay for health insurance for the Employee’s surviving spouse and eligible dependents until the spouse remarries or obtains comparable coverage. At the time of retirement, eligible Employees may redeem unused sick leave in the values listed to apply toward their 50% share of the medical benefits costs or may opt to the “cash value buy-out”, the value of which is equal to the cash equivalent for the schedule listed below: 0 - 1 0 days 11 - 20 days 21 - 30 days 3 1 -4 0 days 41 - 50 days 51 - 60 days 6 1 -7 0 days — 7 1 -8 0 days— 81 - 90 days 91 -1 0 0 days one month current premium cost two months current premium cost three months current premium cost four months current premium cost five months current premium cost six months current premium cost----- seven months current premium cost eight months current premium cost nine months current premium cost ten months current premium cost 101 -1 1 0 days eleven months current premium cost 111 -120 days twelve months current premium cost 121 -130 days thirteen months current premium cost 131 -140 days fourteen months current premium cost 141 -150 days fifteen months current premium cost 151 -...
Retiree Medical Insurance Coverage. If upon your retirement from Horizon, Alaska Airlines is offering retiree medical insurance to similarly situated employees, Horizon agrees to provide medical insurance until the age at which a similarly situated Alaska Airlines employee would have received retiree medical insurance. Please sign this letter and the other two originals confirming your agreement with the terms outlined above, retain one of the three originals for your files and return the two other signed originals to Xxxxx Xxxxxxxx.
Retiree Medical Insurance CoverageEmployees who retire directly from active District employment on or after July 1, 1985, under the Public Employee’s Retirement System, and are between the ages of 55 and 64 upon retirement, and after completing a minimum of fifteen (15) consecutive years of District service shall be eligible to receive a District contribution of $200.00 per month toward payment of the medical benefit plan. Such contribution shall be made for each eligible employee who elects to participate in the above plan. Employees who elect to avail themselves of the medical insurance coverage shall receive the benefit from age 55 through 64, if retired under the Public Employee’s Retirement System.
Retiree Medical Insurance CoverageHealth Insurance for retirees is set forth in the Pension Plan.

Related to Retiree Medical Insurance Coverage

  • Retiree Medical Insurance Retiree insurance coverage is included within each medical plan for all retirees under the age of 65 years, through self-payment. The Employer shall make available an appropriate medical plan for all eligible retirees ages 65 years or older.

  • Industrial Insurance Coverage The Contractor shall comply with the provisions of Title 51 RCW, Industrial Insurance. If the Contractor fails to provide industrial insurance coverage or fails to pay premiums or penalties on behalf of its employees, as may be required by law, Agency may collect from the Contractor the full amount payable to the Industrial Insurance accident fund. The Agency may deduct the amount owed by the Contractor to the accident fund from the amount payable to the Contractor by the Agency under this contract, and transmit the deducted amount to the Department of Labor and Industries, (L&I) Division of Insurance Services. This provision does not waive any of L&I’s rights to collect from the Contractor.

  • 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. b. Employees who have Board-provided term life insurance shall have a thirty-one (31) day conversion right upon termination of employment. Any employee electing the right to conversion in order to keep term life insurance in force, must contact the insurance carrier within thirty-one (31) days of the last day of employment. c. The life insurance policy shall pay to the employee’s beneficiary the aforementioned sum within the underwriting rules and regulations as set forth by the insurance carrier.

  • Health Insurance Coverage (a) An employee who is laid off or separated from employment on or after July 1, 1994, under circumstances which entitle such employee to reemployment rights under this Article, other than pursuant to Section 23, may elect to continue membership in their health benefit plan, upon advance payment of the regular percentage contribution to the cost of the plan, during the first six

  • Medical Insurance The Company shall provide to Executive, Executive's spouse and children, at its sole cost, such health, dental and optical insurance as the Company may from time to time make available to its other executive employees.

  • 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.

  • Insurance Coverages (a) Borrower will maintain such insurance coverages and endorsements in form and substance as Lender may from time to time require of properties of similar types and quality. The insurance will be in an amount equal to 100% of the full replacement cost of the Improvements and Personal Property (without deduction for depreciation) and will include fire, extended coverage, vandalism, malicious mischief, sprinkler leakage, boiler and machinery, terrorism coverage, windstorm, earthquake and flood insurance (if located in an area identified as an earthquake or flood zone), and a minimum of twelve (12) months of rent loss insurance. The insurance will also include commercial general liability coverage in substance and amount satisfactory to Lender naming Lender as an additional insured. Until Lender notifies Borrower of changes in Lender’s requirements, Borrower will maintain not less than the insurance coverages and endorsements Lender required for closing of the Loan. (b) The insurance, including renewals, required under this Section will be issued on valid and enforceable policies and endorsements satisfactory to Lender (the “Policies”). Each Policy will contain a standard waiver of subrogation and a replacement cost endorsement and will provide that Lender TIAA Authorization ID # AAA-7346; TIAA Inv. ID # 000553801 Polaris Fashion Place Mortgage 15239260v.7 will receive not less than thirty (30) days’ prior written notice of any cancellation, termination or non-renewal of a Policy or any material change other than an increase in coverage and that Lender will be named under a standard mortgagee endorsement on the property insurance as mortgagee and loss payee. (c) The insurance companies issuing the Policies (the “Insurers”) must be authorized to do business in the State or Commonwealth where the Property is located, must have been in business for at least 5 years, must carry an A.M. Best Company, Inc. policy holder rating of A- or better and an A.M. Best Company, Inc. financial category rating of Class X or better and must be otherwise satisfactory to Lender. Lender may select an alternative credit rating agency and may impose different credit rating standards for the Insurers. Notwithstanding Lender’s right to approve the Insurers and to establish credit rating standards for the Insurers, Lender will not be responsible for the solvency of any Insurer. (d) Notwithstanding Lender’s rights under this Article, Lender will not be liable for any loss, damage or injury resulting from the inadequacy or lack of any insurance coverage. (e) Borrower will comply with the provisions of the Policies and with the requirements, notices and demands imposed by the Insurers and applicable to Borrower or the Property. (f) Borrower will pay the insurance premiums for each Policy and provide Lender with evidence of such payment within fifteen (15) days of the expiration date of the Policy being replaced or renewed and Borrower will deliver to Lender a certified copy of each Policy marked “Paid” not less than fifteen (15) days prior to the expiration date of the Policy being replaced or renewed. In the event Borrower is unable to deliver a certified copy 15 days prior to the expiration date, Borrower will provide evidence of the renewed coverage by delivering to Lender an Xxxxx 27 (2004/04 or 1993/03) or Xxxxx 28 (2003/10) or the current industry equivalent until a certified copy is available and delivered to Lender. (g) Borrower will not carry separate insurance concurrent in kind or form or contributing in the event of loss with any other insurance carried by Borrower. (h) If Borrower elects to carry any of the insurance required under this Section on a blanket or umbrella policy, Borrower will deliver to Lender a certified copy of the blanket policy (which may be effectuated by a letter, signed by Borrower, certifying that an attached copy of the blanket policy is true, correct and complete) and an accord evidencing the existence of such policy, which policy will provide the same coverage and protection as would a separate policy insuring only the Property. (i) Borrower will give the Insurers and Lender prompt notice of any change in ownership or occupancy of the Property that may result in a change in the insurance requirements for the Property. This subsection does not abrogate the prohibitions on transfers set forth in this Mortgage.

  • Basic Medical Insurance All regular Employees may choose to be covered by the medical plan for which the British Columbia Medical Plan is the licensed carrier. Benefits and premiums shall be in accordance with the existing policy of the plan. The Employer will pay one hundred percent (100%) of the regular premium.

  • Retiree Insurance Retired employees and their dependents shall be entitled to continued coverage under the district sponsored group health insurance program, provided the retired employee makes written application with the clerk of the board of education for such continued coverage within thirty (30) days following the retirement of the employee. Retired employees electing continued coverage shall be required to make the monthly premium payment for such continued coverage in advance of the due date of the premium to the carrier. The premium amount will be determined by the carrier. Such payment shall be made to the Board of Education or directly to the insurance carrier, as may be determined by the board. The coverage under the group health-care benefits will cease at such time as (1) the retired employee attains eligibility for Medicare, (2) the retired employee fails to make the required premium payments on a timely basis, or (3) the retired employee becomes covered or is eligible to be covered under a group plan of another employer. For purposes of this provision, retired means those employees who have terminated employment and are receiving a retirement or disability benefit from K.P.E.R.S.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below or on a facultative basis, subject to the requirements set forth in Section B below. The specifications for all reinsurance under this Agreement are provided in Schedule A. A. Requirements for Automatic Reinsurance For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows: 1. Each life must be a resident of the United States or Canada at the time of application. 2. Each life must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. Any life falling into the category of special underwriting programs will be excluded from this Agreement unless previously agreed to by the Reinsurer via a written amendment. 3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life. 4. The maximum issue age on any risk will be age 85. 5. The mortality rating on each risk must not exceed Table 16, Table P, or 500%, or its equivalent, as shown in the Ceding Company's retention schedule, on a flat extra premium basis. However, one life may be uninsurable if the other life meets the preceding requirements. 6. The total face amount of insurance for the Plans of Insurance in Schedule A to be reinsured on an automatic basis must not exceed the Automatic Issue Limits in Exhibit II. 7. The total amount of insurance issued and applied for in all companies on each life must not exceed the jumbo limits as stated in Exhibit II. 8. The Ceding Company shall retain it's maximum limit of retention for the age and risk classification of each life, as shown in Exhibit II, either on previous insurance or insurance currently applied for.

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