[SchoolFinance] Cash In Lieu

[Shelley Cummings]

Here is our language



A.    Cash-in-Lieu Option: Instructors will be given an opportunity under the
terms of the flexible benefit plan to elect no medical coverage or reduced m
edical coverage.  If an instructor elects no medical coverage or reduces
coverage from the coverage the instructor had on June 1, and documents that
he/she is otherwise covered, provided that the instructor is still eligible
for the higher level of coverage he/she had on June 1, the Director will re
imburse the instructor up to  $2750 for the school year for the premium cost
the Board saves as a result of the election of reduced coverage or no
coverage. The cash payments under this provision are taxable income and shal
l be paid to the instructor not later than June 30 of each year.  In order to
receive this benefit, a participating instructor must sign an annual form
certifying that he/she is eligible for the higher level of insurance
coverage. When an instructor’s level of coverage is reduced because of a
change in eligibility or a qualifying event such as divorce, or when the
dropped insurance is covered by the Board- provided insurance of another
MVR#11 employee, this provision shall not apply. An election to receive
cash-in-lieu of dropped or reduced coverage may be made only during the
annual Open Enrollment period.  In order to receive the reimbursement under
this cash-in-lieu program, the program must generate sufficient funds to be
self-supporting. Self-supporting means that the number of new participants
enrolled in this option is sufficient to result in health insurance cost sav
ings equal to the cost of this cash-in-lieu program. The self-supporting
cash-in-lieu option will be considered each year of this contract.

On Tue, Mar 19, 2024 at 12:08 PM Krol, Gabrielle <gabrielle.krol at msad52.org>
wrote:

> Hi Natasha,
>
> Here is what is in our TTEA contract:
>
> [image: image.png]
>
> On Tue, Mar 19, 2024 at 11:58 AM Winslow, Natasha <nwinslow at rsu50.org>
> wrote:
>
>> Good Morning,
>>
>> Can anyone who offers cash in lieu for insurance and has it in their
>> contract please send me the language they use.
>>
>> Thank you,
>> Natasha
>>
>> --
>>
>>
>> *Natasha Winslow**Business Manager*
>>
>>
>> *RSU 50 <http://www.rsu50.org/>*nwinslow at rsu50.org
>>
>> *Phone:* 207.757.8223  Ext.012 | *Fax:* 207.757.8257
>>
>> *District Website: rsu50.org <http://rsu50.org/>*
>>
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>
>
>
> --
> Gabrielle Krol
> Business Manager
> MSAD 52
> 486 Turner Center Road
> Turner, ME 04282
> 207-225-1006
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-- 
Shelley Cummings
Oxford Hills Technical School
Business Manager
207-743-7756 (opt 4)

*"The flaw in our character is our insistence on separating blue-collar
jobs from white-collar jobs, and encouraging one form of education over
another".....Mike Rowe*
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