Retiree Health Coverage Sample Clauses
The Retiree Health Coverage clause outlines the terms under which retired employees are eligible to receive health insurance benefits from their former employer. Typically, this clause specifies who qualifies as a retiree, the types of health plans available, and any cost-sharing or duration limits on coverage. For example, it may state that employees who retire after a certain age with a minimum number of years of service can continue their health coverage, sometimes with the employer paying a portion of the premiums. The core function of this clause is to provide clarity and assurance regarding post-retirement health benefits, helping retirees plan for their healthcare needs and financial obligations after leaving employment.
Retiree Health Coverage. Fire Series employees who retire on or after February 1, 2006 will pay 70% of the monthly contribution rate for medical coverage for themselves and for their eligible spouse; and the City will contribute 30% of said costs, for so long as timely and continuous monthly premium payments are made by or on behalf of the eligible retiree and/or by their eligible spouse. Medical plan benefit coverage for retirees and eligible spouses will be effective until they reach the age of 65. The monthly costs shall be 102% of the established insurance premium contribution rates, and such rates are subject to change. (Resolution 16-2006 and Resolution 116- 2002) Rates will be reviewed annually by the City beginning in April of each year and adjusted on the first day of July each year, or as soon thereafter as possible, according to the actuarially established contribution rates, and consistent with the percentage rates outlined above. (Resolution 16-2006) For current retiree health rates, please contact the Human Resources office or review the Employee Pay and Benefit Plan. Retired employees are eligible to purchase the City’s Employee Medical, Dental and/or Vision Plan benefits for themselves and their spouse, provided the spouse was covered under each of the Benefits Plan proposed to be purchased for not less than thirty (30) days immediately prior to the employee’s retirement date (Resolution 85-97)
Retiree Health Coverage. Health coverage following the termination of employment shall be made available to the extent required under, and in accordance with, Minnesota Statutes Section 471.61, subd. 2b. The District makes no contribution towards the premium cost of such coverage.
Retiree Health Coverage. The City will establish an Internal Revenue Code Section 401(a) plan for the purpose of paying the benefit provided in this Section. The City shall pay to the retiree or his or her surviving spouse an amount equivalent to the two party active Kaiser monthly medical insurance premium until the death of both. (See Exhibit Letter from Kaiser dated September 14, 2001 attached to this Memorandum of Understanding for illustrative and convenience purposes.) The maximum amount the City shall pay to the retiree or his or her surviving spouse is based on the following schedule: 10 years of Service City to pay an amount equal to 25% of the 2-party Kaiser plan rate 15 years of Service City to pay an amount equal to 50% of the 2-party Kaiser plan rate 20 years of Service City to pay an amount equal to 75% of the 2-party Kaiser plan rate 25 Years of Service City to pay an amount equal to 100% of the 2-party Kaiser plan rate
Retiree Health Coverage. 4.4.1 Notwithstanding anything contained herein to the contrary, the Executive and his spouse on the date of his termination of employment (his “Spouse”) shall each be entitled to the retiree health care coverage described herein for the remainder of his or her life following the termination of the Executive’s employment for any reason. The retiree health care coverage to be provided by the Company to the Executive and his Spouse until they become entitled to Medicare coverage shall be comparable to the health care coverage provided by the Company to the Executive and his Spouse immediately prior to the termination of the Executive’s employment. Once the Executive or his Spouse becomes covered by Medicare, the Company shall provide retiree health care coverage that, together with such Medicare coverage, is comparable to the coverage that the Company provided to him or her immediately prior to the Executive’s termination of employment.
4.4.2 The Executive and his Spouse shall, following his termination of employment with the Company, elect to continue health care coverage in accordance with the provisions of Section 4980B of the Code and Section 10116.5 of the California Insurance Code (“COBRA”). For the period of such COBRA coverage, the retiree health care coverage for the Executive and his Spouse shall be provided under the Company’s group health plan. Following the expiration of the applicable period of COBRA coverage, such retiree health care coverage shall continue to be provided under one or more of the Company’s group health care plans; provided, however, that to the extent such group health care coverage is not available, the retiree health coverage for the Executive and his Spouse shall be provided through health insurance policy or policies acquired by the Executive and/or his Spouse that provides the required level of health care coverage hereunder, until each of them attains age sixty-five (65) and thereafter through insurance policy or policies providing Medicare supplemental coverage. The Company shall reimburse the Executive for the cost of such retiree health care coverage for the Executive and his Spouse during each applicable period of coverage hereunder as follows:
(i) For each period the Executive and/or his Spouse are provided post-retirement health care coverage under the Company’s group health care plan, the Company shall reimburse the Executive for the monthly cost he incurs to obtain such continued coverage for himself and his Spou...
Retiree Health Coverage. 1. For all employees hired before January 1, 2009, and who have attained a cumulative total completed years of service (excluding extra help service and provisional) with El Dorado County as specified below, shall be entitled to the percentage monthly contribution of the "employee only" medical coverage rate (strictly health and not to include dental or vision) at retirement toward a County-Sponsored Health Plan as follows: Level 3 20 years plus 67% Level 2 15-19 years 50% Level 1 12-14 years 33% Part-time employment (excluding extra help and provisional) shall be treated in accordance with the Retiree Health Benefits Contribution Plan Document. County contributions for all bargaining units under this program shall not exceed 1.2% of total County payroll costs during any given fiscal year pursuant to the provisions of the Retiree Health Benefits Contribution Plan Document. Retiree health contribution rates will be recalculated annually on a calendar year basis effective January 1 of each calendar year. The Operating Engineers Trust Fund Plan shall be treated as if it were an Alternate County-sponsored Health Plan for purpose of County contributions specified in the Retiree Health Benefits Contribution Plan Document and the provisions of this Section.
2. Pursuant to the Letter of Agreement dated September 1, 205, County contribution toward retiree health was discontinued for bargaining unit members hired on or after August 11, 2009; however, members hired into an allocated position (excluding extra help and provisional) on or after August 11, 2009, may continue to participate, at their own cost, in the County-sponsored retiree health pan options provided they meet the criteria specified in the plan. The County and Union agree to work together to develop an employee funded Retiree Health Account Program.
Retiree Health Coverage. Executive shall be eligible to elect retiree health coverage under Envestnet’s health plan pursuant to the terms of the plan. Executive will be solely responsible for the cost of such coverage.
Retiree Health Coverage. First Merchants shall take such action as may be necessary so that immediately following the Effective Date, the retirees of Citizens and the Subsidiaries and dependents listed in Section 5.12(m) of the Citizens Disclosure Letter shall be eligible for medical and prescription drug coverage under the health plans of First Merchants. Such retirees shall be responsible for the entire cost of such coverage.
Retiree Health Coverage. A Teacher exercising the option of participating in the Annuity Plan of Article IV., F. or hired in the 2000-2001 school year or later shall not be entitled to any benefits under this Article IV., E. A retired Eligible Teacher enrolled in the School Corporation’s standard hospitalization insurance plan during the school year immediately preceding retirement, may continue to be enrolled in the hospitalization plan until the Eligible Teacher’s sixty- fifth (65th) birthday, but such participant shall be responsible for the payment of the entire insurance premiums applicable to the Eligible Teacher’s insurance coverage. It will be the responsibility of the participant to pay such insurance premiums in the manner designated by the Superintendent. An Eligible Teacher who retires during or after the 1997-1998 school year and is enrolled, immediately prior to retirement, in the School Corporation’s Health Insurance plan and continues to be enrolled until the Eligible Teacher’s 60th birthday anniversary shall be entitled to thereafter receive Seven Hundred Fifty Dollars ($750.00), to be paid toward the School Corporation’s Health Insurance Plan, for five (5) years or until the Eligible Teacher qualifies for Medicare, whichever occurs first.
Retiree Health Coverage. 1. For all employees hired before January 1, 2009, and who have attained a cumulative total completed years of service (excluding extra help service and provisional) with the County as specified below, shall be entitled to the percentage monthly contribution of the "employee only" medical coverage rate (strictly health and not to include dental or vision) at retirement toward a County-sponsored Health Plan as follows: Level 3 20 years plus 67% Level 2 15 - 19 years 50% Level 1 12 - 14 years 33% Part-time employment (excluding extra help and provisional) shall be treated in accordance with the Retiree Health Benefits Contribution Plan Document. County contributions for all bargaining units under this program shall not exceed 1.2% of total County payroll costs during any given fiscal year pursuant to the provisions of the Retiree Health Benefits Contribution Plan Document. The retiree health contribution rates will be calculated annually on a calendar year basis effective January 1 of each calendar year. The OE3 Trust Health Plan shall be treated as if it were an Alternate County- sponsored Health Plan for purpose of County contributions specified in the Retiree Health Benefits Contribution Plan Document and the provisions of this Section.
2. Pursuant to the Letter of Agreement dated September 1, 2015, County contribution toward retiree health was discontinued for Unit members hired on or after January 1, 2009; however, members hired into an allocated position (excluding extra help and provisional) on or after January 1, 2009, may continue to participate, at their own cost, in the County-sponsored retiree health plan options provided they meet the criteria specified in the plan.
Retiree Health Coverage. Hire date before July 1, 2016: The City of ▇▇▇ Arbor shall provide to all bargaining unit members hired before July 1, 2016 (or who are promoted from a position which was eligible for retiree health care), who retire, (including their spouse and dependents as long as the retiree remains the subscriber), the retiree health care insurance benefits and coverage level under the health insurance plan as received by the bargaining unit member as of the date of retirement, unless otherwise provided herein. This benefit provision may also apply to surviving spouses and eligible dependent children (as defined in the health care plan) of deceased retirees, depending on the pension option chosen by the employee at the time of retirement.