Bosh has been sidelined since the 2016 All-Star Break with blood clot concerns. He had hoped to rejoin the team in training camp, but a failed physical left his career in limbo.
Under Bosh’s contract, the Heat paid $9.5MM of his nearly $24MM salary for this season up front. The organization will continue to issue paychecks, but it can recoup the money from the insurance company. Cap experts Bobby Marks of The Vertical and Albert Nahmad of the HeatHoops blog have determined that Miami can get back about $41MM of the $76MM left on Bosh’s contract through insurance.
“It doesn’t take over,” explained GM Andy Elisburg. “You’re allowed to then file for insurance. You’re still responsible for paying the salary. It isn’t something that’s the assumption of the salary. But you now have the opportunity to make an insurance claim, and it’s a per-game basis.”
The Heat are expected to eventually petition the league for a medical exclusion, which they are eligible to do on February 9th, the one-year anniversary of Bosh’s last game. That would wipe the final two seasons of Bosh’s contract — totaling more than $52MM — off the team’s cap.
Bosh, who is currently vacationing in Southeast Asia, is hoping to catch on with another team once his situation with the Heat is resolved. He continues to occupy a roster spot and is being listed as inactive for each game.