Supplementary Health Care Plan
First a little background.
The Supplementary Health Care Plan is offered to retirees by the CBC. Participation is voluntary. Enrolment in the plan is not automatic (except in Quebec if you’re under 65). While the CBC pays for the plan’s administration and communications, it does not subsidize the plan’s other operating costs or subscribers’ premiums. Therefore, the plan must sustain itself, charging premiums that fully cover the plan’s claims and other operating costs.
One of the most important roles played by your National Board of Directors is to act as a sounding board, for the CBC and its benefits consultants, in the management of the supplementary health care plan. It reviews the plan’s performance each fall, makes suggestions on the utilization of any surplus, discusses and endorses the new rates for the coming year.
In fact, in the spring of 2019 the plan was re-opened to all pensioners who are non-subscribers. A total of 4,108 packages were mailed out, advising them of a plan re-opening. Great West Life received 262 applications and of that number a total of 190 new subscribers were added to the plan as of September 30th, 2019.
This is great news as it shows that our SHCP plan is strong and attractive to CBC Pensioners who might not have taken advantage of it when they first retired.
We continue to work with the CBC each year to make sure the plan remains strong.