Group Benefits Presented to CWCF

1. Group BenefitsPresented to CWCF Manon Monette Ted Broome

2. Agenda • Nurturing and promoting co-operation • What are Group Benefits • Advantages of offering them to my employees • Plan design options • Factors that influence pricing • Salary Increase vs A Benefit Plan • Technology • Next Steps / Obtaining a Quote

3. Nurturing and promoting co-operation Nationally and internationally: • Active participation in co-operative associations (local, provincial, national and international) • Co-op youth camps nationally • Support for studies in co-ops (funds and students) • …

4. Nurturing and promoting co-operation (continued) Nationally and internationally: • Contributions made through The Co-operators Foundation • Member Loyalty Program • Co-operative advocacy • Insurance Programs that support the co-operative advantage

5. It’s all about mutual benefit: • Right coverage • Fair price & value • Co-operative difference

6. What is Group Insurance ? Most Canadian residents have access to universal Health Care plans: physician visits surgery (when medically necessary) hospital room (ward accommodation) dental procedures performed in hospitals Group Insurance Plans supplement provincial plans

7. What is Group Insurance ? Private Group Insurance plans typically include the following: Basic Life Insurance and AD&D Dependent Life Insurance Disability (short term and long term) Extended Health Care (drugs, paramedical, equipment, hospital, vision, ambulance, travel) Dental (in Dentist’s office)

8. What is Group Insurance ? Private Group Insurance plans offer the following additional benefits: Employee Assistance Programs (Counseling) Second Opinion Consult Critical Illness

9. Advantages to You - Employer • Attracts & Retains Key Employees • Non-taxable Benefit to Employees • Your Contributions are Tax Deductible • Improved Morale = Increased Productivity • Competitive Advantage

10. A Typical Plan

11. Life Insurance • In the event of an employee’s death, the beneficiary will receive a lump sum. • Benefit can be a flat amount • $25,000 • $50,000 • $100,000 • Benefit can be based on earnings • 100% of salary • 150% of salary • 200% of salary

12. Dependent Life Insurance • In the event of a death of an employee’s dependent, the employee will receive the lump sum. • Benefit options are: • $5,000 spouse / $2,500 children • $10,000 spouse / $5,000 children • $20,000 spouse / $10,000 children

13. Accidental Death & Dismemberment (AD&D) • In the event that the employees dies from an accident, a lump sum payment equal to the life insurance is paid to the beneficiary. • Loss of Use – if the employee should survive an accident but lose the use of a limb, vision, hearing, become paraplegic, then a lump sum benefit is paid based on a schedule. (i.e loss of use of one eye = 67% of the life insurance benefit, loss of use of one arm = 75%)

14. Disability • Designed to insure an employee’s earnings in the event of an accident or illness • Can be offered for both short term (6 months) or Long Term (to age 65) • Plans usually insure 55% to 75% of an employee’s earnings • Benefit can be taxable or non-taxable • Short term disability is paid weekly • Long Term Disability is paid monthly Benefit is taxable unless Employee pays 100% of the disability premium

15. Extended Health Care “Extended” means over-and-above-provincial plan benefits

16. Extended Health Care – Plan Options • Deductibles - $25 single/$50 family, $50/$100, $100 / $200 • Coinsurance – 50% - 100% (% of what the plan will pay) • Maximums • Drugs – annual maximum of $1,500, $3,000, or unlimited • Vision - $200, $250, $300 / 24 months • Paramedical - $300 - $500 per practitioner, per visit max, combined maximum • Vision – optional benefit

17. Dental

18. Dental • Basic Services • Cleanings, fillings, extractions, x-rays, periodontal, endodontic • Major Services (minimum of 5 employees) • Crowns, bridges, posts, dentures • Orthodontic (minimum of 7 employees) • Braces, adjustments, repairs

19. Dental – Plan Options • Deductibles – Nil, $25 single/$50 family, $50/ $100 • Coinsurance – 50% - 100% • Maximums - $750 to unlimited • Recall Exams – 6, 9, or 12 months

20. Factors that Influence Rating • Demographics • Age, gender, occupations, earnings, number of employees • Industry • White collar, grey collar, blue collar • Plan design • Deductible, coinsurance, maximums, benefits selected

21. Salary Increase vs Health Benefits Impact to Employer

22. Salary Increase vs Health Benefits Impact to Employee

23. Salary Increase vs Health Benefits

24. Technology • Benefits Now for Plan Sponsors (Employer) • Benefits Now for Plan Members (Employee) • Mobile App (Claims Submission)

25. Benefits Now – Plan Sponsor • Add/delete employees (real time) • Access billing statements • View coverage information / booklet • Access reports • Request replacement cards • Ask questions

26. Benefits Now – Plan Member • Submit claims online – quick and easy – no receipts • Access information about coverage / booklet • View claims history and eligibility • Sign up for direct deposit for claims payments • Print temporary drug cards, out of country emergency assistance cards and claim forms • Update personal information (not including salaries)

27. Mobile App • Convenient and user-friendly app to submit claims. Snap photo of receipt and submit for processing. • Navigate through policy information • View personal profile and coverage summary • Track pending and processed claims • Manage list of registered providers

28. How to get access to Co-op Guard and Group Benefits? For every need you have: contact your local Co-operators’ Advisor If you don’t know who your local Advisor is, please contact: StrategicClientManagement@cooperators.ca or communications@canadianworker.coop