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waives, in writing,City-paid coverage. Such waiver shall include aprovision warning such <br /> employee that reentry into any City-sponsored plan is allowed only at open enrollment, <br /> unless there is a qualifying event, and may require proof of insurability for such employee <br /> and/or family. <br /> 12.3 Disability Insurance. The City shall continue to pay one hundred percent (100%) of the <br /> premium cost for a long term disability insurance plan (with a sixty (60) day elimination <br /> period)for employees.Employees shall receive a monthly benefit of sixty-six and two-thirds <br /> percent (66 2/3%) of their base monthly salary (to a maximum monthly benefit of ten <br /> thousand dollars ($10,000)). <br /> 12.4 Life Insurance. The City shall continue to pay one hundred percent(100%)of the premium <br /> cost for term life insurance coverage under the policy it maintains on behalf of its officers <br /> and employees in order to provide employees with life insurance coverage in an amount <br /> equal to twice such employee's annual rate of salary to a maximum of three hundred <br /> thousand dollars ($300,000), provided said affected employees can provide evidence of <br /> insurability of coverage above one hundred fifty thousand dollars($150,000) if so required <br /> by the terms and conditions of said term life insurance policy. <br /> In the event any such employee is determined to be ineligible for said insurance coverage,the <br /> City will attempt to provide as much coverage as may be obtained at reasonable cost without <br /> having to provide evidence of insurability. <br /> 12.5 The City shall retain the right to change health,dental,and life insurance carriers,administer <br /> the insurance benefits provided thereunder, and select and/or change any excess or <br /> supplemental insurance carriers as a part of any self-insurance plan during the term of this <br /> MOU,provided that employees continue to receive equivalent benefits and provided that the <br /> parties have met and conferred before the changes have been made. <br /> 12.6 Medical Retirement Subsidy.Plan. The City provides a Retirement Health Savings Plan <br /> ("RHS"). <br /> A. The City shall contribute four percent (41/o) of base salary, plus pay additives each <br /> pay period into the individual accounts of Association members established with the <br /> City's plan administrator. <br /> 1. Employees shall continue to contribute one-half of one percent (.50°/a) of <br /> base salary, plus pay additives, each pay period into their individual RHS <br /> accounts established with the plan administrator. <br /> 39 <br />