Pebt conference november 26 th and 27 th 2013
This presentation is the property of its rightful owner.
Sponsored Links
1 / 31

PEBT CONFERENCE November 26 th and 27 th 2013 PowerPoint PPT Presentation


  • 73 Views
  • Uploaded on
  • Presentation posted in: General

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.

Download Presentation

PEBT CONFERENCE November 26 th and 27 th 2013

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Pebt conference november 26 th and 27 th 2013

PEBT CONFERENCE

November 26th and 27th 2013


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

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


Financial summary

FINANCIAL SUMMARY


Pebt conference november 26 th and 27 th 2013

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


Pebt conference november 26 th and 27 th 2013

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


Questions

Questions?


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


Questions1

Questions?


  • Login