94-091 Ordinance - Laserfiche WebLink

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..~ CITY OF NORTH OLMSTED ORDINANCE N0. 94-91 Page 7 All newly hired employees must have participated with a payroll deduction during the entire period to be eligible for a refund. Any employee who changes from a single to family plan status or vice-versa during the above period shall be entitled to a refund calculated only by the number of months for which contribution was made. If the average cost or premium cost per month exceed $500.00 per month, the additional amount shall be paid at a ratio of three-quarters (75%) by the City and one-quarter (25%) by the employee up to $600.00. If the average cost exceeds $600.01, that additional amount shall be paid by the employer at a ratio of one hundred percent (100%). The employee share of the cost which exceeds an average of $500.00, shall be withheld as an additional payroll deduction within thirty (30) days following the determination of the actual average cost. e. PERIOD OF JULY 1, 1993 TO JULY 31, 1994 Effective during the period July 1, 1993 to July 31, 1994, the maximum employer contribution for all medical, hospital, prescription drug, shall be $450.00 per month, a payroll deduction of $50.00 per month shall be made by all employees in plans which have an expected cost or premium of $450.00 per month. If the average cost or premium is established to be less than $500.00 per month over the thirteen (13) months specified, the employee who paid with a payroll deduction contribution shall be entitled to a refund determined by the difference between $500.00 and the actual average cost or premium times thirteen (13) months, but in no event greater than the employee's contribution during the period specified above. Employees who may be entitled to refund shall receive such refund within thirty (30) days following the determination of the actual average cost for the period, July 1, 1993 through J»ly 31, 1994. All newly hired employees must have participated with a payroll deduction the entire period to be eligible for a refund. Any employee who changes from a single to a family plan status or vice-versa during the above period shall be entitled to a refund calculated only by the number of months for which contribution was made.