Benefit Package For Rouge Valley Doctors
Physicians Group Insurance Plan | Why We Are Here Today? | What Coverage Is Available? | What If I Have Coverage? | What If My Spouse Has Coverage For Me? | Your Benefits Team | Chamber Of Commerce Insurance | What Is The Cost? | Financial Contribution By RVHS | Samples | Involved In A Practice? | You Can Even Offer Different Coverage To Different Classes | Plan Description | What Are The Next Steps? | Contact Us
Physicians Group Insurance Plan
This is a slide presentation for the Rouge Valley Health System Physicians and may not be copied without the written consent of Hardiman, Mount & Associates Insurance Brokers Ltd.
Why We Are Here Today?
RVHS wants to support the actively associated Physicians by providing...
- Easy access to
- Financial support for
A quality Health Benefits Program
What Coverage Is Available?
Life Insurance
Critical Illness (3+)
- Extended Health Care
- Business Overhead
- Expense
- Group RRSP
- Disability Income
- Drugs
- Dental
- Employee Assistance
- Benefits
- Travel Insurance
What If I Have Coverage?
You need to compare:
- Limits... annual and lifetime
- Guarantees... what will happen when you start claiming more than you pay
- Plan directive is it to increase dividends and share price for shareholders... or to provide coverage to the insured at a breakeven
What If My Spouse Has Coverage For Me?
You may apply for:
Life Insurance and Disability Income.
This
will enable you to access the COST PLUS benefit for those eligible
expenses not covered by your spouses plan or are not covered 100% by
your spouses plan.
Your Benefits Team
-
Rouge Valley Health System
- selected the marketing team, product and benefit administrator
-
Hardiman, Mount & Associates
- data collection/ needs analysis/ recommendations/ implementation
-
Johnston Group (Benefit Plans Inc.)
- administration
-
Chambers Insurance Corporation of Canada
- product
Why Did RVHS Select The...
Chambers Of Commerce
Group Insurance Plan
- Reliability - a registered not-for-profit organization
- Stability - established for 30 years
- One focus - the insured... Not profits, share price or dividends
- Guarantees - pooled rates, and renewability
- Security - 20,000 firms/60,000 individuals/$80,000,000 of premium
What Is The Cost?
The cost varies depending on your needs, age and marital status.
Financial Contribution By RVHS
- $50.00/month towards the plan of your choice
- Payment of the Chamber Membership fee (value of $200.00 per year)
Here Are 3 Samples:
Sample #1
Doctor age 44 with Family Coverage
- $100,000 Life & AD&D
- $800/wk Short Term Disability
- $5,000/month Long Term Disability to age 65
- Family EHC (100%) including 70% Drugs
- Family Dental (80%) ($50 deductible) including E & P
Monthly Premium = $529.12
Monthly premium with RVHS subsidy = $479.12
Rates in effect until April 1st, 2003
Sample #2
Doctor age 51 with Family Coverage
- $25,000 Life & AD&D
- $5,000/month Long Term Disability for 2 yrs
- Family EHC (100%) – No Drugs
Monthly Premium = $204.80
Monthly premium with RVHS subsidy = $154.80
Rates in effect until April 1st, 2003
Sample #3
Doctor age 39 with Single Coverage
- $25,000 Life & AD&D
- $800/wk Short Term Disability
- $2,000/month Long Term Disability to age 65
- Single EHC (100%) including 80% Drugs
Monthly Premium = $169.24
Monthly premium with subsidy = $119.24
Rates in effect until April 1st, 2003
Involved In A Practice?
Not a problem...
The Chambers of Commerce Group Insurance Plan has the flexibility needed to meet every scenario.
From Single Physician to Multiple Physicians with Administration Staff
You Can Even Offer Different Coverage To Different Classes
Example: 3 Physicians with 3 administrative staff
Physicians Plan:
- $25,000 Life Insurance
- Long Term Disability to age 65
- Extended Health Care with Drugs @ 80%
- Dental with Endodontal and Periodontal
- Employees Assistance Plan
- Critical Illness
You Can Even Offer Different Coverage To Different Classes
Example: 3 Physicians with 3 administrative staff
Administrators Plan:
- $25,000 Life Insurance
- Long Term Disability for 2 years
- Extended Health Care with Drugs @ 70%
Some practices may chose to cover the Physicians only, or each Physician may individually take their own plan.
The RVHS subsidy is $50 per month for each active physician.
Plan Description
Basic Life Insurance/Accidental Death & Dismemberment
- In all plans
- 24 hour coverage, up to $200,000
- Convertible to individual policy
-
Guaranteed amounts up to...
- 5-9 employees $60,000
- 10-19 employees $80,000
- 20+ employees $125,000
Dependents Group Life
- 24 hour coverage
- No medical evidence of insurability required
-
Range of coverage levels...
- $5,000 spouse with $2,500/child
- $10,000 spouse with $5,000/child
- $15,000 spouse with $7,500/child
Disability Income
Short Term Disability
- Pays up to 66.67% of weekly income
- For Physicians and employees absent from work for brief periods due to illness or injury
Disability Income
Long Term Disability
- Pays up to 66.67% of monthly income for insureds who become totally disabled
- 24 hour coverage, with "regular occupation" definition of disability
- Counseling benefits for disabled employees
-
Guaranteed monthly benefits up to...
- 5-9 employees $1,400
- 10-19 employees $1,700
- 20+ employees $2,200
Drugs
- $25,000 per person/calendar year
- ASSURE pay direct Card means convenience
- Access Canada's leading drug network
- Prescription benefits processed right at the pharmacy
- Replaces paper claims for drugs
Extended Health Care
No overall Maximum
- paramedical services
- orthotics
- ambulance
- Semi-private/convalescent Hospital
- eye exams
- nursing care
- hearing aids
- wheelchairs
- hospital beds
- respirators
- oxygen
- artificial limbs
- breast prosthesis
- wigs
- walking aids
- colostomy, ileostomy supplies
- therapeutic equipment
- out of country coverage
- accidental dental
Note: Specific limits apply
Extended Health Care
sample limits (per person/calendar year less stated)
- Nursing Care: $10,000/24 months
- Paramedical services: $500/practitioner category
- Wheelchairs, respirators, oxygen, hospital beds: each $1,000 lifetime
- Breast prosthesis: $200
- Orthotics: $200
- Hearing aids: $500/60 months
- Eye exams: $35/adult/24 months, $35/child/12months
- Wigs following chemotherapy or accident: $1,000 lifetime
Dental
- Benefits based on current provincial fee guide
- Recall exams, topical fluoride 2x/calendar year
- Up to $1,500/person/calendar year
- Preventative and diagnostic treatment
- Endodontic and periodontic services
- Major restorative (5+)
- Children's orthodontics (10+)
Business Overhead Expense
- For individual self-employed Physicians who generate 100% of practice's revenues
- Purchased with LTD benefits
- Units of $100 from $500 - $2,000/month
- Benefits start 31st day of accident or illness, for up to 18 months
Employee Assistance Benefits
- Help Physicians and employees address problems before they impact on the job performance
- 24 hour toll-free help/resource line
- 12 hours of in-person counseling/family each year, using local professionals
- COMPLETELY confidential
Group RRSP
- No employer contribution required
- Payroll deduction or lump sum contributions
- Term deposit and pooled fund options
- Immediate tax relief for participants
- Reports every 6 months
Cost Plus
(Tax effective Benefit)
Deduction of Health and Dental expenses accepted by Revenue Canada.
Examples:
- Orthodontics
- Laser Eye Surgery
- increased paramedical services
to name just a few...
What Are The Next Steps?
- Pick up your information package
- Complete and Fax back the 2 page Personal Information Form in your package
- Your Hardiman, Mount & Associates representative will contact you to review and finalize your program
- Complete applications and related paperwork
Contact Us At:
Hardiman, Mount & Associates
Insurance Brokers Ltd.
500 Brock Street South
Whitby, Ontario L1N 4K7
Bus: (905) 668-1477
Fax: (905) 666-8086
Toll Free: 1-800-361-6996
Email: info@hmainsurance.com
Web: www.hmainsurance.com
