Principals/Vice-Principals (P/VP)
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Plan updates
Funding for the ONE-T Benefit Plan comes from the Ontario government:
| The Ontario government allocates funding per FTE to member groups | ➤ | That budgeted amount of money/FTE goes to the individual School Boards | ➤ | School Boards contribute the money to the Plan to fund your benefits |
The Trustees have the responsibility to review the Plan and available funding each year and determine if changes are required for the upcoming benefit year to ensure Plan sustainability.
It’s an important balancing act: evaluating the Plan’s financial position to make sure benefits remain affordable and sustainable.
In 2023 and 2024, ONE-T observed health and dental costs continuing to rise, with some of the biggest cost drivers being:
- • Prescription drugs
- • Paramedical services
- • Dental
What’s new for September 1, 2024?
Benefit costs continue to rise faster than available funding. When this happens, ONE-T is required to consider reducing benefits, introducing cost-sharing, or a combination of both.
Starting September 1, 2024, there will be several Plan changes for P/VP Members that will help maintain an affordable and sustainable Plan.
1. “Per prescription” deductible
Your Benefit Plan pays 100% of the cost for your eligible prescription drugs.
Starting September 1, 2024, you’ll have to pay a $2 deductible for each prescription before Plan coverage will take effect.
Keep in mind, you may also have to pay a portion of the pharmacy dispensing fee, since the Plan covers up to $8 maximum dispensing fee per prescription.
Some pharmacies charge $8 or less while others charge significantly more to fill your prescription. It’s a good idea to shop around to limit the amount you’ll have to pay out of pocket.
2. Basic Dental services
Your Benefit Plan covers Basic Dental services such as:
- • Recall exams
- • X-rays
- • Scaling
Starting September 1, 2024, Basic Dental expenses will be covered at 90% (currently 100%).
Tips:
If you have funds in your Health Care Spending Account, you can use these to pay for any amount not covered by the Plan (e.g., the 10%).
If you coordinate benefits with a partner’s plan, be sure to advise your dentist of this change so they can set up your partner’s plan to pay the additional 10% that will no longer be covered by your Plan.
3. Health Care Spending Account (HCSA)
Each year, you may receive a deposit to your HCSA, which is like a bank account for health and dental expenses. You can use the funds in your HCSA to pay for eligible expenses that aren’t covered (or aren’t fully covered) by your Benefit Plan. For a list of eligible expenses, visit Canada.ca.
The deposit amount can change each year. Your deposit for the 2024/25 benefits year will be $200.
What’s coming March 1, 2025?
If sufficient additional funding is not secured, ONE-T expects to share a portion of Benefit Plan costs with all P/VP Members starting in 2025 – this is a measure to help ensure the Plan can remain sustainable. Other ELHTs in the education sector have had this practice in place for some time.
How much?
All Members would pay a portion (currently estimated to be 6%) of the Health and Dental premium costs each year. This amount would be deducted automatically from your pay. On average, 6% would represent $18 per month for a Member who has single Health and Dental coverage or $42 per month for a Member who has family Health and Dental coverage. These are estimates based on current rates in effect for the Plan.
Have money in your Health Care Spending Account (HCSA)? You could submit a claim for Health and Dental premiums you’ve paid and get some or all of that money back – as long as you have enough funds in your HCSA to cover the amount.
More details to come
ONE-T continues to evaluate the sustainability of the Benefit Plan and will share additional details about this expected change with you as we get closer to 2025.
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