To: Eligible OSSTF Education Workers and Long-Term Assignment Education Workers
From: Donna Morrison, Executive Director
September 3, 2021
Renewal of the OSSTF Benefits Plan
This memorandum is to provide notification to eligible members regarding the following renewal action for the OSSTF ELHT Life, Accidental Death and Dismemberment (AD&D), Health and Dental benefits that has been approved by the OSSTF Benefits Board of Trustees, effective September 1, 2021.
While planning for the 2021 renewal, it was discovered that last year’s renewal action for the Basic Life insurance was not implemented. The OSSTF ELHT has received written confirmation that the 2021 renewal rates took into account the actual premiums paid in the 2020/21 Financial Year and were adjusted accordingly. (NOTE: As stated above, for active members, the Basic Life Insurance premium is funded through negotiated FTE funding and is not member paid.)
It is important to note that since inception of the OSSTF Benefits Plan, member contributions towards the health and dental benefits have not changed. The OSSTF ELHT Board of Trustees have given approval that they are also being held through the 2021 renewal. The claims experience under these benefits continues to be monitored regularly by the trust and it may be necessary to implement an increase to the member contributions. If necessary, members will be provided advance notice of any change, but the effective date of the change may be prior to the next scheduled renewal date of September 1, 2022.
One of the main principles that guides the OSSTF ELHT Board of Trustees in its work on behalf of plan members is protecting the long-term sustainability of the OSSTF Benefits Plan while also ensuring comprehensive coverage for members and their families. Achieving this balance includes responsible financial management and following the benefits industry’s best practices.
If you have any questions please contact Donna Morrison, Executive Director at OSSTF Benefits, at firstname.lastname@example.org.
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