June 2007 Focus Update #119

Introducing Extended Health Care Insurance for Retirees

A growing number of major Canadian organizations are discontinuing group benefits for retirees – and this trend is expected to continue. Yet with an aging population and increasing strain on our government health care system, employees now place even more value on benefits that protect themselves and their families from the high cost of health and dental care.

Our new Extended Health Care Insurance for Retirees provides a solution that works for both your employees and you.

Enhance your benefits and compensation package – with minimal effort and at no cost
Our Extended Health Care Insurance for Retirees plan is available on a voluntary (i.e. 100% employee paid) basis to provide affordable, post-retirement individual coverage for a wide range of important medical and dental services.

Our turnkey process provides a comprehensive, yet effortless, way to boost the attractiveness of your benefits and compensation package – and gain a potential competitive advantage when it comes to recruitment and retention. We handle all implementation, administration, marketing and service requirements for you.

Offer employees a choice in coverage – without proof of good health
Employees may purchase coverage for themselves, their spouse and dependent children without the need to provide proof of good health – so long as they enrol within the defined open enrolment period (usually 60 days).  If the employee misses the defined open enrolment period, they are still eligible; however proof of good health will be required. Two insurance plans are available for the Plan Sponsor to choose from:

  • Standard Extended Health Care Insurance for Retirees - provides coverage for prescription drugs** medical and paramedical services, medical equipment and vision care.
  • Enhanced Extended Health Care Insurance for Retirees – provides coverage for all of the items noted above plus out-of-province/country emergency medical expenses and dental.

Enrolment is easy! Getting the coverage your employees need should be easy – and we’ve made sure it is. Our Extended Health Insurance for Retirees enrolment kits have the tools your employees need to make an informed decision for themselves and their families, including; a personalized, sponsor endorsed letter, an informative brochure, all appropriate forms, postage-paid envelopes, and an enrolment reminder. It’s easy to help employees get the coverage they need: you just have to give them the right tools.

A comprehensive suite of individual health and dental insurance products
At Sun Life Financial we’re proud to provide you with options. In addition to Extended Health Insurance for Retirees, we also have two other individual health and dental insurance products to meet the specific needs of your Plan Members.

Health Coverage Choice is a self-serve Extended Health and Dental insurance option, that is available to Plan Members (age 74 and under) who are losing their current Extended Health Care plan. Plan Members have three options to choose from – each including dental coverage options. They can either apply for coverage online or with a paper application. The applicant must apply within 60 days of losing their coverage. And, the applicant does not need to provide proof of good health. We’ll provide Plan Members with a comprehensive brochure that explains the product offering in detail.

Personal Health Insurance is also a self-serve Extended Health insurance option for individuals age 69 and under. This plan can be purchased conveniently online or through an advisor. Proof of good health is required as part of the application process. With three plans to choose from, Plan Members can select a plan that meets their individual needs. All three plans include dental coverage options. Plan Members have access to Plan Member communication materials that clearly and concisely explain product details.

Our comprehensive suite of products ensures we have a product that is right for you and your Plan Members.

Help your employees by providing a solution that meets their needs
For more information on how you can help your employees continue taking good care of their well-being – even after they retire – simply contact your Sun Life Assurance Company of Canada Group Benefits Representative.

**This plan is second payor to any government sponsored drug plan.  In Quebec, this plan will be second payor to comply with RAMQ legislation.