Voluntary Withdrawal from Medical and Prescription Benefits Sample Clauses

Voluntary Withdrawal from Medical and Prescription Benefits. 1. If allowable under the provisions of the current Medical and Prescription Benefit Plans, an employee otherwise entitled to the benefits under A above shall have the option to voluntarily not participate in one or both plans and withdraw from any such coverage. It is understood that the decision to exercise this option rests solely with the employee. In the event an employee makes such election, the Board shall compensate such employee twenty-five percent (25%), as per State mandate, of the yearly premium cost for the plan under which the employee would have been covered. Such cash payment shall be in the form of a stipend and shall be paid on or before June 30 of the school year in which the non participation occurs. 2. In order for an employee to be eligible to elect this cash option, an employee must provide documentation to the Board that he/she has alternate plan coverage. 3. All withdrawals shall be for a full year (July 1 through June 30). Written notification of an employee’s intent to elect this withdrawal option must be filed with the Board during the open enrollment period. Employees may either re-elect the option of withdrawal during each open enrollment period or elect to re-enroll in the insurance plan offered by the District. Prior to each open enrollment period, the Board’s insurance carrier and/or representative shall hold a meeting with employees considering to elect to withdraw from the Districts insurance plan and shall apprise them of any and all benefits and/or risks involved should the employee elect such waiver. 4. Notwithstanding the above, an employee who has a change in status (e.g. termination of employment, death, separation, divorce, etc.) which causes the employee to lose his alternate plan coverage shall be entitled to re-enroll in the relevant plan during the year provided the employee provides the Board with notice of the change of status within sixty (60) days of the event causing such change. The Board’s obligation for the cash option shall be prorated for the employee subject to a change in status. If the District’s plan does not accept the employee, the District will find a comparable plan and pay the premium up to the current amount paid for employees in the District’s plan. Additional costs above the current cost incurred will be the responsibility of the employee. The employee will be re-enrolled in the District’s plan at the first permissible date 5. Return to the prescription plan for reasons other than a change...
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Related to Voluntary Withdrawal from Medical and Prescription Benefits

  • SUPPLEMENTAL BENEFITS The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations in regard to maternity, parental and adoption leave. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Articles 17.06, 17.07 or 17.08.

  • Medical and Dental Benefits If Executive’s employment is subject to a Termination, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical or dental plans of the Company (or an Affiliate) for active employees immediately prior to the Termination Date, then, provided Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Company shall provide Executive and those dependents with coverage equivalent to the coverage in effect immediately prior to the Termination. For a period of twelve (12) months (18 months for a Termination during a Covered Period), Executive shall be required to pay the same amount as Executive would pay if Executive continued in employment with the Company during such period and thereafter Executive shall be responsible for the full cost of such continued coverage; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Company (or an Affiliate) or violate any nondiscrimination requirements then applicable with respect to the applicable plans. The coverages under this Section 4(e) may be procured directly by the Company (or an Affiliate, if appropriate) apart from, and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical or dental plans, and provided, further, that the cost to the Company and its Affiliates shall not exceed the cost for continued COBRA coverage under the Company’s (or an Affiliate’s) plans, as set forth in the immediately preceding sentence. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer with plan benefits that are comparable to Company (or Affiliate) plan benefits, the Company’s and its Affiliates’ obligations under this Section 4(e) shall cease with respect to the eligible Executive and/or dependent. Executive and Executive’s dependents must notify the Company of any subsequent employment and provide information regarding medical and/or dental coverage available.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Educational Benefits The Employer agrees to provide educational benefits to employees that are in permanent status as of the first day of the quarter they are registering in accordance with the Employer’s space-available tuition waiver policy and employee 50% operating fee tuition waiver policy, to include:

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

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