Common use of XXX B Clause in Contracts

XXX B. No Health Insurance Needed. Employees must provide proof of medical coverage under another group health plan. Cash in lieu of $450 per month The Board will administer a Cafeteria Plan under Section 125 of the Internal Revenue Code. It is the responsibility of each eligible bargaining unit member to comply with all requirements for eligibility, enrollment and coverage specified in the Cafeteria Plan and/or by any insurance carrier, insurance policyholder or third party administrator pertaining to the underlying benefits set forth in the Cafeteria Plan. These responsibilities shall include, but shall not be limited to, initial enrollment, benefit election, and submission of all information necessary for claims processing and/or claims administration. The Board agrees to reopen health care cafeteria reimbursement accounts of each employee in this bargaining unit, to the extent authorized by law, to withhold additional wages for medical expenses, if required. In the event that an eligible bargaining unit member waives available coverage(s) under the Cafeteria Plan and thereby elects to receive additional compensation under PAK-B, pursuant to the terms of the Plan, any direction of that compensation to a tax-deferred annuity under Section 403(b) of the Internal Revenue Code or within the meaning of Section 1224 of the Revised School Code shall be regarded as a voluntary and elective contribution made by the teacher through salary reduction.

XXX B. No Health Insurance Needed. Employees must provide proof of medical coverage under another group health planmeeting ACA requirements. Cash in lieu of $450 per month The Board will administer a Cafeteria Plan under Section 125 of the Internal Revenue Code. It is the responsibility of each eligible bargaining unit member to comply with all requirements for eligibility, enrollment and coverage specified in the Cafeteria Plan and/or by any insurance carrier, insurance policyholder or third party administrator pertaining to the underlying benefits set forth in the Cafeteria Plan. These responsibilities shall include, but shall not be limited to, initial enrollment, benefit election, and submission of all information necessary for claims processing and/or claims administration. The Board agrees to reopen health care cafeteria reimbursement accounts of each employee in this bargaining unit, to the extent authorized by law, to withhold additional wages for medical expenses, if required. In the event that an eligible bargaining unit member waives available coverage(s) under the Cafeteria Plan and thereby elects to receive additional compensation under PAK-B, pursuant to the terms of the Plan, any direction of that compensation to a tax-deferred annuity under Section 403(b) of the Internal Revenue Code or within the meaning of Section 1224 of the Revised School Code shall be regarded as a voluntary and elective contribution made by the teacher through salary reduction.