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Section 24.04. PERIOD OF JULY l, 1992 TO ,NNE 30, 1993 <br />Effective during the period July l, 1992 to June 30, 1993, the maximtun <br />employer contribution for all medical, hospital, prescription drug, shall <br />be $430.00 per month, a payroll deduction of $40.00 per month shall be <br />ma.de by all employees in plans which have an expected cost or premitun- of <br />$430.00 per month. <br />If the expected cost or premium is established to be less than $470.00 <br />per month over the (12) twelve-month period specified, the employee who <br />paid with a payroll deduction contribution shall be entitled to a refund <br />determined by the difference between $470.00 and the actual average cost <br />or premium times twelve months, but in no event greater than that <br />employee's contribution during the period specified above. Employees who <br />may be entitled to a refund shall receive such refund within (30) thirty <br />days following the determina.tion of thz actual average cost for the <br />period July l, 1992 through June 30, 1993. <br />All newly hired employees must have participated with a payroll deduction <br />during the entire period to be eligible for a refund. Any enployee who <br />changes fran a single to family plan status or vice-versa during the <br />above period shall be entitled to a refund calculated only by the rnIInber <br />of months for which contribution was ma.de. <br />If the average cost or premium cost per month exceed $500.00 per month, <br />the additional amount shall be paid at a ratio of three-quarters (75%) by <br />the City and ane-quarter (25a) by the enployee up to $600.00. If the <br />average cost exceeds $600.01, tha.t additional amount shall be paid by the <br />employer at a ratio of one-hundred percent (100%). The employee share of <br />the cost which exceeds an average of $500.00, shall be withheld as an <br />additiona.l payroll deduction within thirty (30) days following the <br />determinatian of the actual average cost. <br />Section 24.05. PERIOD OF JULY 1, 1993 TO JULY 31, 1994 <br />Effective during the period July 1, 1993 to July 31, 1994, the maximwn <br />employer contribution for all medical, hospital, prescription drug, shall <br />be $450.00 per month, a payroll deduction of $50.00 per mnth shall be <br />made by all employees in plans which have an expected cost or premiian of <br />$450.00 per month. <br />If the average cost or premium is established to be less than $500.00 per <br />month over tYe thirteen (13) months specified, the employee who paid with <br />a payroll deduction contribution shall be entitled to a refund determined <br />by the difference between $500.00 arid the actual average cost or preMiUm <br />times thirteen (13) months, but in no event greater than the enployee's <br />contribution during the period specified above. <br />Fmployees who may be entitled to refund shall receive such refund within <br />thirty (30) days following the determination of the actual average cost <br />for the period, July l, 1993 through July 31, 1994. <br />-20-