| Date | July 19, 2018 |
|---|---|
| To: | Faculty & Librarians |
| From: | Steve Dyce, Director, Benefits, Pensions and Payroll, Division of Human Resources & Equity |
| Re: | Benefit plan contributions effective July 2018 |
Effective July 1, 2018, there will be an increase to premiums for the current health and dental plans, and a decrease for life insurance and the LTD Plan.
As a result of rising claims cost across the entire plan, the monthly employee and employer premiums across all groups will increase by 3% for the Extended Health Care Plan (EHC) and 2% for the Dental Plan.
In addition, the following recently negotiated plan improvements for Faculty and Librarians will result in a further increase to reflect these increases in coverage:
- Increase Vision Care to $450/24 months for prescription eyewear
- Increase Paramedical services combined maximum to $1,250 per plan year
- Remove requirement for prescription for registered massage therapist
- Increase coverage for hearing aids to max of $750 per ear every 3 years
- Increase dental major restorative max to $2,800 per plan year/per participant
- Expand Psychology benefits to include MSW and Psychotherapist, and increase overall maximum to $3000 per plan year per participant
- Introduce partial coverage for continuous glucose monitors for type 1 diabetes
The new monthly premiums are:
| Extended Health Care Plan: | Single $20.41 | Family $74.48 |
|---|---|---|
| Dental Plan: | Single $16.98 | Family $39.44 |
| Life Insurance premiums will decrease by 10% and LTD will decrease by 5% | ||
There will be a modest increase to the Joint Membership Plan monthly cost, which will vary slightly by option, but will be approximately 2%.
These changes in your monthly contributions will be reflected in your July pay.
Should you have any questions about these benefit changes please contact benefits.help@utoronto.ca