Premium cost definition
Premium cost means an individual's premium for a qualified health plan less the amount of the individual's advance premium tax credit.
Premium cost means an individual's premium for a qualified
Premium cost means an individual’s premium for a qualified health plan less the amount of the individual’s advance premium tax credit.
Examples of Premium cost in a sentence
For medical coverage, GROUP must contribute a minimum of the equivalent of fifty percent (50%) of the Premium cost of the Employee-only rate in the reference plan selected by the Employer.
Premium cost and payment information will be provided to you in a separate letter.
Premium cost in excess of the Employer's contribution established by this Article shall be paid by the individual employee through payroll deduction.
Premium cost sharing will be paid weekly through payroll deduction.
For medical coverage, GROUP must contribute a minimum of the equivalent of fifty percent (50%) of the Premium cost of the lowest-priced Employee-only plan rate medical Program Product in the metal tier(s) selected by the Group available to the Employee through the Program.
More Definitions of Premium cost
Premium cost as used herein shall mean the premium rate that each carrier would charge the Board to provide the benefits specified in 5.1 for each level of coverage if the Board had funded those benefits on a fully-insured basis, giving full credibility to actual experiences. The Board shall provide the Union, upon request with a written statement from each carrier of the premium rate that each carrier would charge the Board to provide the benefits specified in 5.1 for each level of coverage on a fully-insured basis.
Premium cost as used herein shall mean the premium rate that each carrier charges or would charge the Board to provide the medical benefits listed above for each level of coverage (i.e., individual, two-person, and family) whether or not the Board funds such benefits on a fully-insured basis or a self-insured basis. Upon written request, the Board shall provide the Union with a written statement of the premium rate that each carrier charges or would charge the Board to provide the benefits of the particular insurance program for each level of coverage. Each employee shall pay a pre-tax premium cost share as follows: In the 2008-2009 contract year, each member shall pay twelve and one half percent (12.5%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. In the 2009-2010 contract year, each member shall pay thirteen percent (13%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. In the 2010-2011 contract year, each member shall pay thirteen and one half percent (13.5%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. In the 2011-2012 contract year, each member shall pay fourteen percent (14%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. The deduction for the premium cost share is annualized with the premium cost share being paid each pay period between September and August of each contract year.
Premium cost means as either the actual premium cost paid by the Town for coverage under the Medical Plan or the Carve-Out Plan, or if the Town does not pay an actual premium, the cost the allocation rate as developed by an independent third party administrator
Premium cost means an individual’s premium for a qualified health plan less the
Premium cost means an individual’s premium for a qualified
Premium cost as used herein shall mean the premium rate that each carrier charges or would charge the Board to provide the benefits listed above for each level of coverage (i.e., individual, two-person, and family) whether or not the Board funds such benefits on a fully-insured basis or a self-insured basis. Upon a written request, the Board shall provide the Teachers' Union with a written statement of the premium rate that each carrier charges or would charge the Board to provide the benefits of the particular insurance program for each level of coverage. In the 2007-2008 contract year, each member shall pay sixteen percent (16%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. The Board shall pay the balance of the cost of such insurance programs. In the 2008-2009 contract year, each member shall pay seventeen percent (17%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. The Board shall pay the balance of the cost of such insurance programs. In the 2009-2010 contract year, each member shall pay eighteen percent (18%) of the annual premium cost for the insurance programs listed above for which he/she is eligible and which he/she selects. The Board shall pay the balance of the cost of such insurance programs.
Premium cost as used herein shall mean the premium rate that each carrier charges or would charge the Board to provide the benefits listed above for each level of coverage (i.e., individual, two-person and family) whether or not the Board funds such benefits on a fully-insured basis or a self-insured basis. Upon a written request, the Board shall provide the Union with a written statement of the premium rate that each carrier charges or would charge the Board to provide the benefits of the particular insurance program for each level of coverage. Each employee will be offered the option of selecting the health care plan during open enrollment period each April for implementation on July 1. The premium cost-sharing amount for which the employee is responsible shall be automatically deducted from the employee’s pay in each paycheck on a pro-rata basis. In accordance with Internal Revenue Service Regulations, the Board agrees to continue a Section 125 Plan under which an employee may designate pre-tax dollars for certain medical costs such as premium cost sharing amounts, deductibles, co-insurance charges and certain medical care not covered under existing insurance programs. The Board shall also adopt and maintain an IRS Flexible Spending Account with a minimum contribution of $250 and a maximum contribution of $2,500 per plan year for health reimbursement and a minimum contribution of $250 to a maximum contribution of $5,000 per plan year for dependent care. The following provisions will apply: