Common use of Waiver of Health Insurance Benefits Clause in Contracts

Waiver of Health Insurance Benefits. Teachers may elect to waive all health insurance benefits and in lieu thereof, be remunerated in the amount of $500 at the end of each quarter of the year. Teachers choosing this option shall be able to change their option effective on July 1st and each quarter thereafter by notifying, in writing, the Director of Business Affairs at least sixty (60) days prior to the beginning of the quarter for which the change is requested. Upon receipt of revocation of the waiver, coverage by the insurer shall be subject to any regulations or policy restrictions, including waiting periods, which may then be in effect. Waivers under this section must be permitted by the applicable insurance companies and policies.

Waiver of Health Insurance Benefits. Teachers may elect to waive all health insurance benefits and in lieu thereof, be remunerated in the amount of $500 at the end of each quarter of the year. Teachers choosing this option shall be able to change their option effective on July 1st and each quarter thereafter by notifying, in writing, the Director of Business Affairs Chief Operating Officer at least sixty (60) days prior to the beginning of the quarter for which the change is requested. Upon receipt of revocation of the waiver, coverage by the insurer shall be subject to any regulations or policy restrictions, including waiting periods, which may then be in effect. Waivers under this section must be permitted by the applicable insurance companies and policies.