Memorandum: Member Benefits Plan
The member benefits’ overall premium has incurred a significant increase. In partnership with our member benefits consultant, Cosman Benefits & Pension Solutions (CBAPS), we have reviewed the proposed renewal from our current insurer and negotiated on your behalf.
CBAPS negotiated a 52% increase on Health & Dental rates, as opposed to the overall proposed increase of 117%. The premium is a result of claims utilization. Over the last 12 months, our policy has experienced the following:
- High Health claims utilization (including drugs, paramedical services, vison & medical supplies); health claims are running at 124% of health premium
- High utilization particularly on paramedical, including (but not limited to): naturopath, acupuncture, chiropractic, osteopath, physiotherapy
- High dental claims utilization (preventative and restorative services); dental claims are running at 168% of dental premium
Effective December 1, 2018, the monthly single or family cost per member is as follows:
- Single $147.02
- Family $315.70
Membership participation is essential for a sustainable and affordable plan. Without it, the membership may lose their plan.