Association Sponsored Health and Dental Solutions

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• Association Sponsored Health and Dental Solutions

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Overview of Presentation

• What is Supplemental Health Coverage?
• Provincial coverage at a glance
• Facts and figures
• Our Health Care products
• Premiums
• Things you need to be aware of
• Ancillary Services

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Introduction

• Question are YOU one of the millions of
  Canadians not covered by a supplementary health
  plan?
• Without a supplementary health plan, you and your
  family WILL be vulnerable to routine and
  unexpected expenses not covered by the government
  health plan such as
• Major illness requiring expensive drug costs
• Major dental work
• Prolonged hospital stay
• Homecare
• Medical equipment requirements
• Illness while traveling

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Why would I consider a supplemental health plan?

• Common misconceptions
• The Government covers all my medical needs,
  right?
• Im healthy, why would I purchase a plan?
• I have other financial priorities.

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Why would I consider a supplemental health plan?

• A few items to consider
• The Government only covers basic medical needs -
  like a trip to the doctor or hospital.
• Your continued good health is not a given -
  health changes accidents do happen.
• What financial priorities could be more
  important than your health care?

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Overview of Provincial Health Plan Coverage
Did you know
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Facts and Figures

• In 2007, households paid 3.9 billion
  out-of-pocket for prescription medication.
• Source Canadian Institute for Health
  Information. Drug Expenditure in Canada 1985 to
  2007. May 2008.
• In 2006, the average Canadian household spent
  1,250 on health care costs not covered by
  provincial health plans - dental care, eye care,
  paramedicals up 10 from 2005.
• Source Statistics Canada

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Facts and Figures

• As demand outstrips funding, provinces have begun
  to limit what services and procedures are covered
  and are refusing to pay for new services and
  medications.
• Source Toronto Star. 21 June 2008.
• More than half of Canadian employers are
  considering eliminating post-retirement benefits
  for most retirees to contain the soaring costs of
  health benefits.
• Source AON Consulting Inc.

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Our Solution - Health and DentalInsurance
Products for Our Members
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The TESL Ontario Association Health and Dental
Plan

• 8 distinct plan choices
• 4 Drug Dental, 4 Dental only
• EHC benefits included
• Web Site link available through Owen and
  Associates at your TESL home page and at
  www.owenandassoc.com

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Insurance Premiums
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Premiums

• Rates are determined by plan type chosen, age,
  status, and province/territory of residence
• Single, couple, child rates are offered
• Premiums are subject to review annually
• Coverage effective 1st of the month

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Premiums

• Favorable Tax Position
• Deduction of premiums as a business expense
• All family members can be deducted
• Some maximums apply depending on type of business
• Non taxable benefit for employees
• Still able to claim under medical expense for
  excess
• Exceptions may apply - contact Canada Revenue
  Agency for details.

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Premiums

• Typical individual health insurance premium
  1,250.00
• Tax saving at a 40 level -(500.00)
• Prescription drug expenses per year - 180.00
• Dental expenses per year - 200.00
• Contact lenses expense per year - 100.00
• Chiropractor/Registered Massage Therapist
• expenses per year - 150.00
• The cost to you 120.00
• The example shown is for illustration purposes
  only and is not meant to be
• representative of every situation. Your actual
  savings will depend on the policy
• selected and the expenses you incur. Please
  refer to your policy for complete
• coverage details, and consult your financial
  advisor.

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Things you need to be aware of
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Application

• Complete in full including medical information
  (if needed)
• First two months premium (age banded and per
  person, discounted for couples and large
  families) must accompany the application in the
  form of
• Cheque
• Credit Card
• Pre-authorization from financial institution
• Turn Around Time 4-6 wks for underwritten apps
  and 2 wks for non-underwritten apps

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Underwriting Philosophy

• Our intent is to offer coverage for an ailment or
  condition which arises in the future.
• Offer exclusion, rating or guaranteed issue plan
  (Counter offers) vs. accept or reject
• For some conditions unable to offer coverage
• Enrolled 1st of the month, no waiting period
• Guaranteed issue plans also available to those
  with pre-existing conditions.

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Claims Service

• I.D card provided for up-front payment on most
  claims
• Currently over 90 of all claims are processed
  electronically
• Claims Customer Service
• 1-800-268-3763
• SecureServeTM (Internet support)
• DrugCheck

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Additional ServicesFor TESL Ontario Members
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Additional Services

• As consultants to TESL Ontario, Owen and
  Associates is available to provide you with
  guidance regarding
• Mortgage Insurance and Mortgages
• Life Insurance
• Critical Illness Insurance- provides a lump-sum
  should you become critically ill
• Disability Insurance
• Travel Insurance Traditional
• Out of Country Travel Insurance for those working
  outside of Canada for periods greater than 1 year
• RRSPs
• Group Benefits and Pension for businesses
• We are independent and objective and work for you!

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Contact Us

• For further information, please contact

Toronto                                           
          Collingwood 208 Evans Avenue, Suite
107,                    391 First Street, Suite
301, Toronto Ontario M8Z 1J7                     
       Collingwood Ontario L9Y 1B3 Phone
416.252.6116  Fax [phone]   Phone
705.443.8679 Fax [phone] www.owenandassoc.com
mike.owen_at_owenandassoc.com alex.kalotinis_at_owenand
assoc.com Please refer to the Owen and
Associates information leaflet in your TESL
Conference bag
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Thank you!