Examples of Hard Cap in a sentence
Employees hired after July 1, 2011 will be eligible for single subscriber insurance or will be eligible for health insurance beyond single subscriber with employee paying 14% during 2023-24, 11% during 2024-25 and 8% during 2025-26 of the Hard Cap and the employer paying 86% during 2023-24, 89% during 2024-25 and 92% during 2025-26 of the Hard Cap.
Employee is responsible for premium and ACA fees that exceed the State Hard Cap.
Notwithstanding anything else set forth herein to the contrary, in no event shall the aggregate amount of Royalty Interest Payments, U.S. Licensing / Participation Payments and Ex-U.S. Licensing / Participation Payments made by Company to the Purchasers under this Agreement exceed the Hard Cap as calculated at such time.
The Board shall evaluate this 3% reduction on the part of the employee during the last year of the contract as to if the 3% reduction shall continue in the succeeding school years until employees Hard Cap is 0% and the employers Hard Cap is 100%.
District uses the full legislative Hard Cap for health insurance for the duration of this contract.