Common use of Waiver of Insurance Clause in Contracts

Waiver of Insurance. Effective August 16, 2021, the Employer will pay each employee a monthly opt-out waiver for declining the Employer provided insurance coverage and being added to their spouse or parent insurance coverage. Employees must sign a waiver of coverage stating they have other coverage to be eligible to opt-out of the Employer’s plan and receive the waiver. Employees who opt-out will only be able to again be covered under the Employer’s plan if there is a loss in other coverage (within 31 days) or during open enrollment. The waiver payments to be made on a monthly basis are $500.00 for family plan coverage, $300.00 for employee plus spouse plan coverage, and $150.00 for single plan coverage.

Waiver of Insurance. Effective August 16, 2021, the Employer will pay each employee a monthly opt-out waiver for declining the Employer provided insurance coverage and being added to their spouse or parent insurance coverage. Employees must sign a waiver of coverage stating they have other coverage to be eligible to opt-out of the Employer’s plan and receive the waiver. Employees who opt-out will only be able to again be covered under the Employer’s plan if there is a loss in other coverage (within 31 days) or during open enrollment. The waiver payments to be made on a monthly basis are $500.00 for family plan coverage, $300.00 for employee plus spouse plan coverage, and $150.00 for single plan coverage. Married employees are not eligible for waiver.