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PEBT CONFERENCE November 26 th and 27 th 2013. Today ’ s Program Schedule . AM. 9:00-10:00. PEBT Financial and LTD Overview with Rob Hewitt, PEBT Trustee and Ray Parker, Desjardins. 10:00-11:00. Guest Speaker Dr. Susan Biali : Wellness Expert, Medical Doctor and Life Coach.

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pebt conference november 26 th and 27 th 2013
PEBT CONFERENCE

November 26th and 27th 2013

slide2

Today’s Program Schedule

AM

9:00-10:00

PEBT Financial and LTD Overview with Rob Hewitt, PEBT Trustee and Ray Parker, Desjardins

10:00-11:00

Guest Speaker Dr. Susan Biali: Wellness Expert, Medical Doctor and Life Coach

11:00-11:30

Break

11:30-12:15

JEIS Audit Review with Rob Hewitt, PEBT Trustee and Rochelle Morandini, MorneauShepell

Lunch

12:15-1:15

PM

1:15-2:15

Guest Speaker Rebecca Marino:Tennis Star, Speaker on Mental Health and Cyber Bullying

2:15-2:45

Q & A and Conference Closing

slide4

Financial Summary

  • Long Term Disability (LTD)
  • Predominant benefit
  • Funding for Core LTD - $19.4M
  • PEBT must work within funding for Core LTD
    • excess of funds can increase benefit
    • shortage of funds must decrease benefit
  • JEIS funding initially loaned by government
  • Other Benefits
long term disability
Long Term Disability
  • 20,915 active members (December 31, 2012)
  • Total number of active claims under 5 years increased marginally in 2012 to 578 compared to 567 claims in 2010
  • An additional 141 claims are being paid beyond 5 years (durational pooling limit) as of December 2012
  • LTD Program costs have increased in 2012
financial summary1
Financial Summary

LTD Program Costs

MILLIONS OF DOLLARS

$20.8

$16.5

$16.2

$14.8

$14.6

$13.9

$11.9

$11.2

$10.0

financial summary2
Financial Summary

LTD Benefit Payments

MILLIONS OF DOLLARS

$7.5

$7.3

$7.3

$7.3

$7.2

$6.2

$4.7

$3.0

$1.2

financial summary3
Financial Summary

JEIS Program Costs

MILLIONS OF DOLLARS

$1.3

$1.3

$1.2

$1.1

$1.1

$0.9

$0.7

$0.6

$0.5

financial summary4
Financial Summary

PEBT Causes of Disability – Full Benefit Claims

Nervous system and sensory organs

Neoplasms

8%

13%

Accidental fractures – bones and skeletal muscles

28%

19%

Mental disorders

5%

14%

Heart and circulatory system diseases

Diseases of the skin – bones and skeletal muscles

other benefits
Other Benefits
  • Plan design and funding in accordance with Collective Agreements
  • Economies of scale
  • Reduced expense charges
  • Managing risk to reduce benefit costs
  • Shared services approach (common administration system) = efficiencies/savings
other benefits1
Other Benefits

Basic Group Life

  • Pooled with other Districts
  • Paid $2.7M in claims in 2012
  • Premium is based on overall Plan claims experience
other benefits2
Other Benefits

AD&D (including optional)

  • Pooled with “similar block of business”
  • Paid claims in 2012:
    • No Basic AD&D claims
    • One Optional AD&D claim totalling $200,000
other benefits3
Other Benefits

Extended Health Care (EHC)

  • ASO with Stop-Loss for large claims
    • Stop-Loss coverage for large claims transfers risk to insurer
  • Small Districts initially had opportunity to enter into a pooled arrangement
other benefits4
Other Benefits

Extended Health Coverage

  • Approximately 20,980 covered members
  • $19.9M claims paid in 2012
  • 3.7% increase in extended health claims from 2011 to 2012
  • Number of members increased slightly from 2011
  • Primary cost drivers: drugs and paramedical services
other benefits5
Other Benefits

PEBT EHC Claims – 2012

Other

Vision Care

Medical supplies/

equipment

2%

9%

7%

22%

Paramedicals

60%

Drugs

other benefits6
Other Benefits

Top 5 Drugs by Category as a Percentage of Total Drug Claims

January-December 2012

25%

17%

7%

7%

6%

Central Nervous System

Cardio-vascular

Gastro-intestinal

Anti-infective agents

Anti-diabetic

other benefits7
Other Benefits

Dental Coverage

  • Approximately 21,000 covered members
  • $23.1M claims paid in 2012
  • 2.6% increase in Dental claims from 2011 to 2012
  • Number of members increased slightly from 2011
  • Primary cost drivers: new and expensive treatments, aggressive marketing by dental community
other benefits8
Other Benefits

PEBT Dental Claims – 2012

Ortho

8%

22%

Major

70%

Basic

investment summary
Investment Summary
  • Investment strategy – actively managed
  • Funds distributed between two investment managers:
    • bcIMC
    • Mawer
  • Mawer replaced McLean Budden June 2012
    • Performance was consistently below benchmark
    • Ownership changes
  • Investment Committee continuously reviews investment diversification

This led to a search for another investment manager

investment summary1
Investment Summary

PEBT Fund Returns

Investment returns

2008

2009

2010

2011

2012

-10.2%

14.3%

8.1%

1.9%

8.4%

  • Market fluctuations impact PEBT ability to support the fund
slide21

Annual Reports

  • 2011 annual report as well as previous reports are available on the PEBT website
  • Includes audited financial statements
  • 2012 annual report will be available on the website in mid-December

Available at: www.pebt.ca

up next
Up Next

LTD Overview

Ray Parker, Manager Disability Claims, Desjardins Financial Services

long term disability benefit
Long Term Disability Benefit
  • For Members who are regular employees working 15 hours or more per week with the Employer
  • 66.67% of monthly earnings from the Employer
  • $50 per month minimum benefit
  • $10,000 per month maximum
  • 120 calendar days elimination period
first 24 months
First 24 Months
  • Elimination period
  • Regular duties
  • \'No surprises\' approach
  • Change of definition
  • Any occupation 60%
  • Transferrable skills analysis
limitations and exclusions
Limitations and Exclusions
  • Pre-existing conditions
  • Layoff
  • Committing or attempting to commit a criminal offence
  • Riot, insurrection or civil commotion
  • Alcohol and drug abuse
  • Driving while impaired by drugs or alcohol
offsets
Offsets
  • Paid Sick Leave
  • WorkSafe BC
  • Canada Pension Plan
  • ICBC Part VII Benefits
third party claims
Third Party Claims
  • Types of claims
  • Reimbursement Agreement
  • Settlement follow-up
  • Repayment
  • Net Settlement
termination of ltd benefits
Termination of LTD Benefits
  • No longer disabled
  • Neglects or refuses to provide proof of disability or undergo a medical examination
  • Outside of Canada for more than 2 weeks; 2 months
  • Death or retirement
  • 55 years of age and 35 years of pensionable service
  • Fails to comply with third party claim requirements
  • Not under continuing medical care
  • Refuses to participate in disability management program
appeals
Appeals

If there is additional information

If there is no additional information

  • Encouraged to provide within 60 days
  • Supervisor review
  • Medical Appeal
  • 60 days/One year
  • Medical grounds only
  • Three physicians
  • Final
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