Faculty and Librarians Benefit plan contributions effective July 2018

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:

  1. Increase Vision Care to $450/24 months for prescription eyewear
  2. Increase Paramedical services combined maximum to $1,250 per plan year
  3. Remove requirement for prescription for registered massage therapist
  4. Increase coverage for hearing aids to max of $750 per ear every 3 years
  5. Increase dental major restorative max to $2,800 per plan year/per participant
  6. Expand Psychology benefits to include MSW and Psychotherapist, and increase overall maximum to $3000 per plan year per participant
  7. 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