Common use of Second Renewal Option Year Clause in Contracts

Second Renewal Option Year. (January 1, 2025 through December 31, 2025) For the Second Renewal Option Year of the Agreement, the Agreement shall expire on December 31, 2024 unless the Group’s Human Resources Director notifies HMO in writing, on or before September 30, 2024, of the Group’s intent to exercise its option to renew the Agreement for the Second Renewal Option Year, at the monthly Premium rate, as set forth in HMO’s notification of renewal to the Group, which shall occur no later than July 30th, 2024. The Group’s renewal notice shall occur subsequent to notification to Group by HMO of its intention to remain a participant in the Medicare Advantage program. The notification from HMO shall also contain all applicable rate increases, as outlined in Exhibit II-A, and or applicable benefit changes, if any, proposed for the renewal period.

Second Renewal Option Year. (January 1, 2025 2024 through December 31, 20252024) For the Second Renewal Option Year of the Agreement, the Agreement shall expire on December 31, 2024 2023 unless the Group’s Human Resources Director notifies HMO in writing, on or before September 30, 20242023, of the Group’s intent to exercise its option to renew the Agreement for the Second Renewal Option Year, at the monthly Premium rate, as set forth in HMO’s notification of renewal to the Group, which shall occur no later than July 30th, 20242023. The Group’s renewal notice shall occur subsequent to notification to Group by HMO of its intention to remain a participant in the Medicare Advantage program. The notification from HMO shall also contain all applicable rate increases, as outlined in Exhibit II-A, and or applicable benefit changes, if any, proposed for the renewal period.