Cost of coverage

If you live in Quebec and do not have vision care

If you live in Quebec and have vision care

If you live in Ontario and do not have vision care

If you live in Ontario and have vision care

If you live outside Quebec and Ontario (but within Canada) and do not have vision care

If you live outside Quebec and Ontario (but within Canada) and have vision care

If you live in Quebec and do not have vision care

If you live in Quebec and have vision care

If you live in Ontario and do not have vision care

If you live in Ontario and have vision care

If you live outside Quebec and Ontario (but within Canada) and do not have vision care

If you live outside Quebec and Ontario (but within Canada) and have vision care

Please use the above applicable rate and add $169.81 for single coverage and $341.65 for family coverage.

Both the University and you currently share equally in the cost of the plan. You pay half the total cost and Concordia pays the other half.

Who determines that cost?

In reality, it’s not the insurance company. It’s not the University.

It’s YOU.

That’s right. The premiums that both you and the University pay are based on the claims paid out to employees and pensioners each benefit year. So, how much participants and their families actually use the plan in any given benefit year will determine increases or decreases in benefit premiums at each renewal of the plan.

The plan essentially operates like a bank account:

As a result, the insurance company sets premiums in consultation with the University, according to the expected cost of the plan for the coming benefit year as well as the anticipated use of the various plan benefits according to the “plan experience” shown in the past. The Benefits Committee must approve any changes in premiums.

From this perspective, it is easy to understand how we all have a certain responsibility, and ability, to help control expenses.

The Benefits Committee, for example, may periodically make plan changes or adopt various means (such as the drug card) to maintain a fair balance between cost and coverage.

Since you share in the cost of the plan, you also have a vested interest in making sure that the plan remains affordable and competitive. Some factors that affect the cost of claims are beyond everyone’s control:

• continually rising inflation in the health sector, in large part due to the increasing cost of drugs and the arrival of new, more expensive drugs;
• new medical technology and an aging workforce, leading to a growing utilization of the Concordia Health Plan; and
• the ongoing shift of health care expenses from government plans to private plans.

But there are things that you, as a plan participant, can do. Take the Road to health: Tips for a sound body, mind ... and wallet for details.

If you are a Québec resident, the premium (including the sales tax) that Concordia pays toward your coverage under the plan is considered a taxable benefit. However, you may be able to deduct the following health care expenses when you file your income tax return:

Tax deductions on your...