Voluntary Benefit Waiver
Purpose
The purpose of the voluntary benefit waiver option is to encourage eligible employees to waive unnecessary duplicate family coverage. Employees eligible for medical coverage who elect to waive medical coverage for a full year shall receive cash in lieu of coverage.
How to Waive Medical Coverage
Click here to print a Voluntary waiver form. You must provide documentation certifying coverage through another source in order to waive medical coverage. Waiver forms and certificate of coverage through another source must be returned to your Business Office by June 1st . Please note: This waiver is irrevocable during the plan year, except upon a life changing event. Also, this waiver is for all medical coverage. You may not waive a level of coverage and be paid any difference in premium.
Payment
Payments will be made on June 30, 2011 for employees exercising the option to waive medical insurance for the 2010-2011 school year. Payments will run through payroll as a separate check and be reported as taxable income. Payments made for employees within the first five years of employment will be prorated accordingly.
· Single: $787
· Parent/Child: $1,145
· Husband/Wife: $1,941
· Family: $2,000
Re-Enrollment in Benefits
Employees and their dependents may re-enroll or elect health benefits after waiving benefits:
· During Open Enrollment.
· Upon the occurrence of a “life-changing event” during the course of the year.
The following are considered “life-changing events”:
o Change in legal marital status—marriage, death of spouse, divorce, legal separation or annulment.
o Change in the number of dependents—birth, adoption, placement for adoption or death of a dependent.
o Change in employment status—termination or commencement of employment by the employee, spouse or dependent, a strike or lockout, reduction or increase in hours, or unpaid leave of absence.
o Change in dependent’s status—a dependent satisfies or ceases to satisfy the requirements for coverage due to age, student status or similar circumstances.
o Residence or worksite—a change in the place of residence or work of the employee, spouse or dependent. |
