Heat can now apply for insurance to pay for huge portion of Chris Bosh’s contract
The Heat have paid his salary in full this season, but are now eligible to apply for insurance to partially pay his salary.
Bosh’s salary is now eligible to be partially paid through insurance because he has not played in 41 consecutive games.
The insurance will pay 80 percent of his salary, leaving the Heat to pay the balance which totals $175,000 – a small sum compared to the whole pot.
The threshold to apply for insurance is 41 missed games, which Bosh completed Saturday when the Heat faced the Washington Wizards.
Bosh will continue to receive his salary from the Heat who will be compensated by the insurance company in return.
Insurance will pay the remainder of Bosh’s contract if he’s out until February 9, which marks a full year since he last played in an NBA game.