3sHealth announces rebates for members of the Retiree Benefit Plan

July 19, 2013

On May 10, 2013, 3sHealth issued a refund cheque to people who were members of its Retiree Benefit Plan on April 1, 2013. The refund is a result of contract negotiations with Group Medical Services (GMS) that adjusts the premium rate to reflect the actual claims experienced by plan members, compared to estimated claims costs.

In addition to the refund, the health premium rate for the period June 1, 2013 to May 31, 2014 will decrease by 13.4% and the dental premium rate will decrease by 2.4%.

The refund cheque and the rate reduction are a result of the due diligence the 3sHealth Employee Benefits Program provides in overseeing costs for its plan members. Rates are adjusted annually based on the group’s claims experience. Normally, the claims experience for an insured group is determined by comparing the premiums paid by the group against the claims incurred, plus any expenses. Each year GMS establishes a trend factor based on industry expectations and the experience. Last year 3sHealth observed that the established trend was in excess of the plan’s needs. As a result, 3sHealth negotiated a contract with GMS that would provide a refund if GMS overestimated what the claims cost would be on a go forward basis.

“It is not often that you can provide your customers a rate decrease AND a refund,” says Bud Anderson, Director of Employee Benefits for 3sHealth. “It is particularly satisfying to know that we have been able to provide this to members of our Retiree Program, who for the most part, are living on a fixed income.”

The 3sHealth Retiree Plan is underwritten by Group Medical Services (GMS) and is available to retirees of 3sHealth participating employers or 3sHealth. Those interested in participating in the plan must apply within 90 days of retirement from active work. For more information on the 3sHealth Retiree Benefits Plan contact 3sHealth at ebp@3shealth.ca, call 1.866.278.2301 or visit www.3shealth.ca.

pdf  3sHealth-2013-07-Benefits.pdf

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