Determining Premium Clause Samples

Determining Premium. On approximately the fifteenth day of each month, the Insurance Company will determine the number of Members Covered under the Policy, and this will be the basis for the Premium charged by the Insurance Company for the following billing period. The Group will submit monthly a listing of Members for the Insurance Company to reconcile Members covered under the Group’s Coverage. The following describes how the Insurance Company will bill for adding and terminating Members:
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Determining Premium. On [approximately] [the] [first – thirtieth] [(1st - 30th)] [day] [of each month] [of each billing period], the [Plan] [Group] will determine the number of [Subscribers] [and/or] [Members] Covered under the Group's Coverage, and this will be the basis for the Premium [charged] [paid] by the [Plan] [Group] for the [following] [current] billing period. [The Group will submit [monthly] [quarterly] [semi-annually] [annually] a listing of [Subscribers] [Members] for the Plan to reconcile [Subscribers] [Membe6rs] covered under the Group’s Coverage.] The following describes how the [Plan] [Group] will ▇▇▇▇ for adding and terminating Members:
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Related to Determining Premium

  • Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.

  • Overtime Premium a) Time and one-half (1/2) shall be paid as follows: 1) For all hours worked over 8 (eight) hours per day. 2) For all hours worked over 40 (forty) hours per week. 3) For all hours worked on Sunday, unless part of the employees regularly scheduled workweek. b) Double time plus holiday pay shall be paid for all hours worked on holidays that are defined in this Agreement.

  • Short Changeover Premium (a) If shifts are scheduled so that there are not 24 hours between the start of an employee's shift and the start of their next shift, a premium calculated at the overtime rates will be paid for hours worked on the succeeding shift within the 24-hour period. (b) Where an employee exercises seniority rights to work shifts, one of which falls within the 24-hour period from the start of the previous shift, the employee shall not be entitled to claim the premium rate referred to in (a) above.

  • Night Shift Premium All hours worked by an employee between ten (10:00) p.m. and seven (7:00) a.m. shall be considered as shift work and paid for at the applicable straight time/overtime rate plus two ($2.00) dollars per hour shift premium for each full hour worked during this period. Night-shift premium shall not be added to the employee’s hourly rate of pay for the purpose of computing overtime pay.

  • Supervisory Differential Adjustment The Appointing Officer shall adjust the compensation of a supervisory employee whose compensation grade is set herein subject to the following conditions: