The Health Benefits Buy-Out Waiver Program allows City employees who are covered under a group health insurance plan through an employer other than the City of New York or through a spouse's health plan to waive their City health insurance and receive a cash incentive.
- Effective for Plan Year 2016, employees waiving family coverage receive $3,000 annually
- Effective for Plan Year 2016, employees waiving individual coverage receive $1,500 annually
Payments are made in two installments in June and December and are subject to tax. Payments for the Health Benefits Buy-Out Waiver Program are included in your taxable wages in Box 1 of your W-2.
Learn more about your W-2 Wage and Tax Statement
You can enroll in the Health Benefits Buy-Out Waiver Program within 30 days of becoming eligible for benefits or during the open enrollment period, generally from the end of September through November each year.
Find out more on the Office of Labor Relations Web site