Examples of Buyer Option in a sentence
The Employer may not change the SISC PPO Prudent Buyer Option I plan or the HMO plan unless such change is mutually agreed upon; however, if the health plan provider changes the coverage by eliminating some coverage or increasing a co-pay or deductible, the Employer shall not be responsible for maintaining benefits that were changed by the health plan provider.
Should SISC or a mutually agreed alternative provider no longer offer the 100% PPO Prudent Buyer Option I plan, the SCOE shall fully cooperate in good faith with the SACP in attempting to find and to contract with the most similar plan available in the market.
The District shall provide the Prudent Buyer Option PBC 100-B $100/300 deductible, $3/15/35/3 prescription plan through SISC.
The District agrees to pay, as set forth in this Article, for health benefit premiums for all bargaining unit employees (who meet eligibility requirements as listed below) and their dependents who choose to participate in Blue Cross Prudent Buyer Option PBC 100-B $100/300 deductible, $3/15/35/3 prescription health insurance or a comparable plan.
In previous years loans have been restructured into “variable structure” debt and risk is managed within the contracts as they are Lender Option Buyer Option (LOBO) loans where interest rates can only be reviewed on certain anniversary dates.