Health Care Savings Plan definition

Health Care Savings Plan. Any teacher with a seniority date on or after March 1, 2006, is not eligible for the retiree health insurance detailed in this Article VI Section 9. In lieu of retiree insurance, each full time teacher will receive a $1,000 contribution to a health care savings plan on July 1 of the fiscal year in which the teacher reaches continuing contract status. The teacher will receive a $500 contribution on each July 1 following a completed year of service in which they work full time. Teachers will receive prorated contributions if they resign or are terminated mid-year, are on an unpaid status for at least half the year, or if they are part time. Individual teachers will be notified when first eligible for a contribution and the Federation will be provided with a summative list. Health care savings contributions will be made in the name of the employee to the health reimbursement company identified in Exhibit A.
Sample 1
Health Care Savings Plan. All eligible members of the Eagan Police Officers collective bargaining unit will contribute a percentage of their gross wages into their Health Care Savings Plan, based on the following: Years of Service Percent of salary contributed 0-14 years plus 364 days 2% Beginning the 15th year of service and beyond 3% “Years of service” is defined as a current member of the Eagan Police Officers collective bargaining unit who has; served in a full time capacity as a sworn Peace Officer, either with the City of Xxxxx, or another law enforcement entity, AND the previous full time work experience from another in law enforcement agency can be substantiated. This change in contribution level would become effective upon approval of the Minnesota State Retirement System. In witness whereof the parties hereto have executed this agreement on this 15th day of May, 2018. LAW ENFORCEMENT LABOR SERVICES, INC. CITY OF XXXXX: Xxxxx Xxxxxxx, Business Agent Mayor Xxxx Xxxxxxx Xxxxxx Xxxxxx, Police Officer Xxxxx X. Xxxxxx City Administrator Xxxxxxxxx Xxxxxxxx, City Clerk Xxxx Xxxxxxxx-Xxxxxxx, Human Resources
Sample 1
Health Care Savings Plan. Any teacher with a seniority date on or after March 1, 2006, may elect to continue their current enrollment coverage in the District group health and hospitalization, dental and life insurance programs established by Article VIII, sections 6, 7 and 8 of this Agreement at the time of retirement if they pay 100% of the premiums. In lieu of retiree benefits, each full-time teacher will receive a $1,000 contribution to a health care savings plan on July 1 of the fiscal year in which the teacher reaches continuing contract status. The teacher will receive a $500 contribution on each July 1 following a completed year of service in which they work full time. Beginning July 1, 2025 , the teacher will receive a $1000 contribution on each July 1 following a completed year of service in which they work full time. Teachers will receive prorated contributions if they resign or are terminated mid-year, are on an unpaid status for at least half the year, or if they are part time. Individual teachers will be notified when first eligible for a contribution and the Federation will be provided with a summative list. Health care savings contributions will be made in the name of the employee to the health reimbursement company identified in Exhibit A.
Sample 1

Examples of Health Care Savings Plan in a sentence

  • The School District shall deposit the total amount of the cash in the employee’s name in the Post-Retirement Health Care Savings Plan administered by the Minnesota State Retirement System.

  • The Health Care Savings Plan shall allow Employees, as a group, through the collective bargaining process to designate pre-tax compensation to pre-fund eligible post- employment expenses.

  • Employees who leave the City in good standing by retirement or resignation will receive pay for 100% of unused accrued vacation up to the maximum accrual amount by years of service and will follow the schedule for accrued sick leave: The payment for accrued sick leave shall be applied towards the Employee’s Minnesota State Retirement Health Care Savings Plan.

  • For retirees in the fiscal year 2021-2022, and for retirees in the fiscal year 2022-2023, one hundred percent (100%) of the retiree’s severance payments shall be deposited into the retiree’s account with the Minnesota State Retirement System’s Health Care Savings Plan.

  • The Employer shall implement a tax-advantaged Health Care Savings Plan (HCSP) administered by Minnesota State Retirement System (MSRS).

  • In case of permanent disability as determined by XXXX of an active employee, an amount equal to one hundred (100) percent of unused sick leave will be deposited in a MSRS Health Care Savings Plan for the use of the employee as governed by MSRS rules.

  • For employees hired prior to January 1, 2013: When an employee terminates employment with the City of Rochester, the City will convert forty (40) percent of the employee’s unused sick leave balance to be deposited to an individual Minnesota State Retirement System (MSRS) Health Care Savings Plan (HCSP).

  • Severance pay MUST be remitted by the City to the Minnesota State Retirement System to be deposited in a Post-Retirement Health Care Savings Plan for the employee as authorized and governed by Minnesota Statutes Section 352.98.

  • Post-Retirement Health Buyout: (Approved by City Commission 03/22/21) Care Supervisors hired prior to March 31, 2008 the City shall fund 10 years of MERS Health Care Savings Plan (HCSP).

  • This amount shall be deposited to an individual Minnesota State Retirement System (MSRS) Health Care Savings Plan (HCSP) and calculated at the employee’s regular rate of pay at time of separation.


More Definitions of Health Care Savings Plan

Health Care Savings Plan. The district will contribute the following amount into each principal's Minnesota State Retirement System's Health Care Savings Plan. Lifetime Employer Paid Contribution not to exceed $46,000. Years of Service Annual contribution
Sample 1

Related to Health Care Savings Plan

  • Health care plan means any contract, policy or other arrangement for benefits or services for medical or dental care or treatment under:

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Health benefits plan means a benefits plan which pays or

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Health care service means that service offered or provided

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Company 401(k) Plan shall have the meaning set forth in Section 6.09(e).

  • Medicare Advantage plan means a plan of coverage for health benefits under Medicare Part C as defined in 42 U.S.C. 1395w-28(b)(1), and includes:

  • Investment Plan means the document in terms of which the special purpose vehicle will invest in unlisted investments and all matters incidental thereto;

  • Health care services means services for the diagnosis, prevention, treatment, cure, or relief of a health condition, illness, injury, or disease.

  • Group health plan means an employee welfare benefit plan as defined in section 3(1) of subtitle A of title I of the employee retirement income security act of 1974, Public Law 93-406, 29 USC 1002, to the extent that the plan provides medical care, including items and services paid for as medical care to employees or their dependents as defined under the terms of the plan directly or through insurance, reimbursement, or otherwise.

  • 401(k) Plan has the meaning set forth in Section 6.10.

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Health plan or "health benefit plan" means any policy,

  • Care Plan means a licensee's written description of a resident's needs, preferences, and capabilities, including by whom, when, and how often care and services are to be provided.