Common use of Cash Option in Lieu of Health Benefits Clause in Contracts

Cash Option in Lieu of Health Benefits. Any full-time employee eligible for health insurance, prescription, vision, or dental coverage paid by the Board who elects not to enroll and/or participate in the benefits package will receive a cash payment of $3,000. Each employee electing the cash payment and providing proof of insurance must declare their intention not to participate in the Lisbon Health Care Plan by August 1st of each year and remain off the plan for one (1) calendar year. The year is defined as a 12-month period commencing with the first effective date of the plan’s enrollment period. The employee is eligible to rejoin the health plan effective September 1st of the following year with the date of the plan’s enrollment period. Employees hired after September 1st must request the cash payment option within seven (7) days of hire date. The cash payment will be prorated based on the number of full months remaining in that year. Employees whose spouse is employed by the Board are not eligible for the cash payment option. In the event that changes in the Affordable Health Care Act adversely affect the terms and conditions in health coverage to the district, both sides agree to a reopener for this item only.