Buy-Out Waiver program
The MSC Health Benefits Buy-Out Waiver program entitles eligible employees to receive a cash incentive payment for waiving their City health benefits if non-City group health coverage is available to them (for example, a spouse's or domestic partner's plan or coverage from another employer).
Annual payments are taxable income. This amount will be prorated for any period less than six months by the number of days the employee is participating in the Buy-Out Waiver program.
Enrollment
Employees may enroll in the Buy-Out Waiver program within 31 days of becoming eligible for benefits, during the transfer period or within 31 days of a qualifying event.
The transfer period for the Buy-Out Waiver program occurs in the fall and changes made during this period are effective January 1 of the following year.
Current participants are automatically enrolled for the following plan year.
To opt out for the following plan year, participants must change their election during the Buy-Out Waiver program transfer period or within 31 days of a qualifying event.
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More information
More information can be found in the Summary Plan Description (SPD) on the Office of Labor Relations website at nyc.gov/olr.
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Related topics
Accessing the Summary Program Description (SPD)
Applying for a Buy-Out Waiver due to a qualifying event
| 2022 |
| Last revised: March 9, 2009 |