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Renewal of the OSSTF Benefits Plan

To: Eligible OSSTF Education Workers and Long-Term Assignment Education Workers

From: Donna Morrison, Executive Director

June 19, 2024

This communication is directed to all OSSTF permanent and LTA (Long Term Assignment) Education Workers who are eligible for participation in the OSSTF Benefits plan. 

September 1, 2024 Renewal of the OSSTF Benefits Plan for Education Workers/LTAs

The OSSTF Benefits Plan health, dental and life insurance benefits provided by Manulife and AD&D (Accidental Death and Dismemberment) benefits provided by Teachers’ Life, renew effective September 1 of each year. September 1, 2024 is the seventh renewal of the OSSTF Benefits plan for Education Workers.

After thorough analysis of the demographics of eligible members, plan usage, experience, funding, and rising dental and health care costs, the OSSTF ELHT (Employee Life and Health Trust) Board of Trustees approved the following Renewal Action to be implemented effective September 1, 2024:

  • Basic Life Insurance rates will not change,
  • Optional Life rates (member/spouse partner/child) will decrease by 10%*,
  • Accidental Death and Dismemberment rates will not change,
  • Extended Health rates will increase by 9.3%,
  • Dental rates will increase by 5.5%.

This results in an overall premium increase to the OSSTF ELHT Plan for Education Workers and LTAs of 7.7%.

  • Note Member and Spousal Optional Life rates are based on 5 year age bands. Although renewal Optional Life rates are decreasing, for a participating member or spouse the age band changes may result in an increase to Optional Life monthly costs.

It is important to note that the rates are established based on past and future projected claims experience of the participating eligible OSSTF Education Workers/LTA members. OSSTF ELHT bears the financial responsibility of the plan as the Plan Sponsor.  As health and dental claims increase, the level of financial obligation to the Trust also increases.

Funding of the OSSTF Benefits Plans

A key principle 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 Plans while also ensuring comprehensive coverage for plan members and their eligible dependants. Achieving this balance includes responsible financial management and following best practices in the benefits industry. 

Negotiated FTE Funding and Member Premium Contributions are the only two forms of ongoing funding for the OSSTF Benefits Plans.  

The negotiated FTE (Full Time Equivalent) Funding as outlined in the OSSTF Central Agreement for Education Workers: 

  • This is the major source of funding for the plan. The current level of FTE funding is $5,655 annually per FTE including retail sales tax.
  • This will be adjusted, when the new OSSTF Education Worker Central Agreement for the period of September 1, 2022 to August 31, 2026 is finalized and published, to:
    • An additional increase of 1% annually to the FTE funding for each of September 1, 2022, September 1, 2023, September 1, 2024, and September 1, 2025, and then an additional 4% effective August 31, 2026.

Plan member contributions toward the plan: 

  • Plan member contributions toward the health and dental benefits are based on 6% of the budgeted premium rates for full time active plan members (1.0 FTE) and are pro-rated for less than full time active plan members. 
  • Member contributions have not changed since inception of the plan (November 1, 2016). However, the overall cost of the plan has and continues to increase as paid health and dental claims continue to rise (more claims being paid, and for higher dollar values). For the September 1, 2024 renewal, the member contributions represent an actual cost share of 4.9% for active full time OSSTF Education Worker members.
  • There are also member contributions for plan members who choose to participate in the Optional Life benefits and plan members who are on an approved non-statutory leave of absence (eg personal leave, extended parental leave, unpaid sick leave) and choose to continue to participate in the plan.

At each renewal since inception of the plan, the OSSTF ELHT Board of Trustees has reviewed the OSSTF Teacher member contributions towards the OSSTF Benefits Health and/or Dental Coverage, taking into account many factors including the financial impact that it has on participating members and levels of member contributions towards benefits in place under other education sector Employee Life and Health Trust plans. Based on a thorough review again this year, the OSSTF ELHT Board of Trustees has approved no change to the current member health and/or dental member contributions through the September 1, 2024 renewal.  

IMPORTANT MESSAGE TO MEMBERS

Although the cost of the plan continues to increase, there will be no change to the current health and or dental member premium contributions towards the OSSTF Benefits Plan for eligible OSSTF Education Workers/LTOs. 

Based on the evolution of the plan’s claims experience and the details of the FTE Funding levels that will be stated in the OSSTF Education Worker Central Agreement when finalized, it may be necessary to implement an increase to the plan member contributions and/or implement some cost containment changes to the plan. 

The claims experience of the OSSTF Benefits Plan will continue to be monitored regularly by the Trust. 

If any changes are necessary, plan members will be provided advance notice of them. The effective date of member premium contributions and/or plan design changes may need to be implemented prior to the next scheduled renewal date of September 1, 2025.

If you have any questions, please contact Donna Morrison, Executive Director at OSSTF Benefits, at donna.morrison@osstfbenefits.ca.  

The information in this document is provided by OSSTF Benefits for general information only. OSSTF Benefits endeavours to have all information current and accurate. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information included. All information is subject to change without notice.

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