Cash Payment in Lieu of Medical Coverage Clause Samples

The "Cash Payment in Lieu of Medical Coverage" clause allows employees to receive a monetary payment instead of enrolling in the employer-provided health insurance plan. Typically, this applies to employees who already have medical coverage through another source, such as a spouse’s plan, and choose to opt out of the employer’s offering. The core function of this clause is to provide flexibility for employees while potentially reducing the employer’s insurance costs, as it incentivizes those with alternative coverage to forgo duplicative benefits.
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Cash Payment in Lieu of Medical Coverage. Employees who are covered by a non-City sponsored health care plan will only be eligible to receive a payment in lieu of medical insurance and are not permitted to participate in a City sponsored health care plan. Employees choosing to take the incentive payment will be required to provide proof of insurance from another source on an annual basis. Employees covered under a non-City health care plan will be reimbursed the following payment in lieu of medical insurance: Single - $175 per month Two Person and Family - $285 per month For employees who are covered by the City’s medical insurance through a spouse who is an employee of the City of Big Rapids, the employee not carrying the City’s insurance will receive a payment in lieu of medical coverage of $235 per month.
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Cash Payment in Lieu of Medical Coverage. Employees may elect to decline individual or family medical insurance coverage. If they sign a statement testifying to the proof of other health insurance coverage and provide acceptable proof of this coverage, employees electing to decline medical insurance coverage will receive three thousand dollars ($3,000) cash in lieu of this coverage. This cash payment will be received with the last pay period in June of the school year just completed. Employees electing to take this option must notify the district’s Business Manager by July 1st each year. New employees electing this option shall notify the Business Manager at the time of employment. Employees will receive the cash payment prorated to the month of employment. Employees who drop individual or family medical coverage will be allowed to re-elect district provided coverage only under the condition that a “change of status” has occurred as defined below: 1. Marriage or divorce of employee 2. Death of the employee’s spouse or dependent 3. Birth or adoption of the employee’s spouse’s dependent 4. Commencement or termination of the employee’s spouse 5. Switch from full time to part time status by the employee’s spouse 6. An unpaid leave of absence taken by the employee or the employee’s spouse 7. A significant change in the health coverage of the employee or spouse attributable to the spouse’s employment. Under these circumstances only shall the employee be permitted to re-enroll in the district’s medical insurance program the month subsequent to the “change of status” listed above. These employees must notify the district of their intent to enroll by the first of the month coverage is to commence. The employee shall receive a “prorated” case payment for the months they were not enrolled in the district’s medical insurance plans.
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Related to Cash Payment in Lieu of Medical Coverage

  • Medical Coverage The Executive shall be entitled to such continuation of health care coverage as is required under, and in accordance with, applicable law or otherwise provided in accordance with the Company’s policies. The Executive shall be notified in writing of the Executive’s rights to continue such coverage after the termination of the Executive’s employment pursuant to this Section 3(d)(iv), provided that the Executive timely complies with the conditions to continue such coverage. The Executive understands and acknowledges that the Executive is responsible to make all payments required for any such continued health care coverage that the Executive may choose to receive.

  • Contribution Formula Dental Coverage a. Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2014, and January 1, 2015, the minimum employee contribution shall be five dollars ($5.00) per month.

  • Dental Coverage Each employee covered by this agreement shall be eligible to participate in the City's dental program.

  • Insurance or Other Medical Coverage Patient acknowledges and understands that this Agreement is not an insurance plan, and not a substitute for health insurance or other health plan coverage (such as membership in an HMO). It will not cover hospital services, or any services not personally provided by Direct Doctors. Patient acknowledges that Direct Doctors has advised that patient obtain or keep in full force such health insurance policy(s) or plans that will cover Patient for general healthcare costs. Patient acknowledges that this Agreement is not a contract that provides health insurance, and this Agreement is not intended to replace any existing or future health insurance or health plan coverage that Patient may carry.

  • Basic Life and Accidental Death and Dismemberment Coverage The Employer agrees to provide and pay for the following term life coverage and accidental death and dismemberment coverage for all employees eligible for an Employer Contribution, as described in Section 3. Any premium paid by the State in excess of fifty thousand dollars ($50,000) coverage is subject to a tax liability in accord with Internal Revenue Service regulations. An employee may decline coverage in excess of fifty thousand dollars ($50,000) by filing a waiver in accord with Minnesota Management & Budget procedures. The basic life insurance policy will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition. $10,000 - $15,000 $15,000 $15,000 $15,001 - $20,000 $20,000 $20,000 $20,001 - $25,000 $25,000 $25,000 $25,001 - $30,000 $30,000 $30,000 $30,001 - $35,000 $35,000 $35,000 $35,001 - $40,000 $40,000 $40,000 $40,001 - $45,000 $45,000 $45,000 $45,001 - $50,000 $50,000 $50,000 $50,001 - $55,000 $55,000 $55,000 $55,001 - $60,000 $60,000 $60,000 $60,001 - $65,000 $65,000 $65,000 $65,001 - $70,000 $70,000 $70,000 $70,001 - $75,000 $75,000 $75,000 $75,001 - $80,000 $80,000 $80,000 $80,001 - $85,000 $85,000 $85,000 $85,001 - $90,000 $90,000 $90,000 Over $90,000 $95,000 $95,000