Principals/Vice-Principals (P/VP)
Learning Centre
Annual Member Update
The ONE-T Benefits Plan was established over five years ago to provide meaningful, affordable, and sustainable benefits for Members and their covered dependents.
Since then, we’ve built a strong Plan that serves more than 8,400 P/VP Members.
Overall, ONE-T is running well, thanks to:
• Dedicated partners in place to help us manage the Plan
• An in-house team – our Executive Director and Administrator –
focused on day-to-day operations of the Plan
• An experienced Board of Trustees that oversees the Trust
Communication and Member service
This year, ~57% of P/VP Members visited the ONE-T.ca website. Let’s make that number even higher in 2024!
We know you have encountered some challenges with Canada Life’s service (most notably, the time it takes for your claims to be reimbursed and difficulty reaching Canada Life through their call centre). We have heard your concerns, and we share them.
In the latter part of 2023, we put certain measures in place – for example, increased check-ins with Canada Life and weekly service monitoring. Canada Life has indicated that they expect to see service levels return to normal by March 2024. Rest assured; this remains an important focus for ONE-T in 2024 and we encourage you to email info@one-t.ca if you have any concerns about your claims or service with Canada Life.
Today, and always, we maintain an unwavering dedication to doing what is best for our Members.
2023 Milestones
Plan updates
· Introduced prior authorization for semaglutide drugs (e.g., Ozempic®)
· Introduced biosimilar switching for five originator drugs
New blog posts
· Helpful hints for health and dental claims
· Make sure your beneficiary is up-to-date
· Converting your life insurance (to a personal policy if you lose coverage, e.g., retirement or leaving the plan)
HCSA tips and reminders
· Tip sheet on submitting “other” claims
· Video about how to submit a claim (“other”) to your HCSA
Webinars
· Conducted four sessions with P/VP Members
· Talked about how ONE-T works; benefits (with a spotlight on the HSCA); recent Plan changes
· Live Q&A session
Strong governance
· Surveyed School Boards to measure satisfaction with Cowan
· Created scorecard to monitor service providers – Canada Life and Cowan
· Updated policies and governance model and built a new tool to better monitor and mitigate risk
· Implemented Cyber Risk Policies and Processes
Investment strategy
· Completed investment policy
· New investment manager and fund in place – Baker Gilmore Absolute Return Bond Fund
Plan performance and financial highlights
Good plan performance means that Members can enjoy meaningful and affordable benefits today…and well into the future.
It can be challenging to manage the Plan’s health since it’s conditional on the funding that ONE-T receives for P/VP Members. However, the Plan remained in a good position in 2023. We review the Plan’s health by conducting actuarial valuations, which measure its projected revenues against its projected costs over a short horizon. The most recent actuarial valuation, dated December 31, 2022, showed good results:
Plan assets
Projected to meet minimum requirements over the next three years
Investment income
Generated more than 5 times our 2021 results – an increase of $0.5 million
Meet the Trustees
Your Plan is managed by a Board of Trustees whose sole focus is to effectively manage ONE-T in the best interest of all Plan Members.
With diverse experience and perspectives, the Board of Trustees includes:
• 5 individuals appointed by CAEAS-ECAB and P/VP, including the Chair
• 3 individuals appointed by the Crown
• 1 individual appointed by the School Board Trustee Associations
Each Trustee participates in all board meetings and at least one of three committees that meet regularly to monitor, discuss, and make decisions about:
• Governance
• Audit, Finance, and Investments
• Benefits and Communication
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