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Understanding Your Benefit Plan Renewal

1ISI (Interuniversity Services Inc.) Benefit Plans

Not-for-ProfitFounded in 198417,000 insuredVolume Purchasing

Presentation by Morneau Shepell#2ISI (Interuniversity Services Inc.) Benefit Plans

Not-for-ProfitFounded in 198417,000 insuredVolume Purchasing

Presentation by Morneau Shepell#3ISI (Interuniversity Services Inc.) Benefit Plans

Lower CostsBenefit InnovationFlexibility in Plan DesignVendor ManagementCommunication & EducationBenefits of ISI include:

Presentation by Morneau Shepell#4ISI Participation

Presentation by Morneau Shepell#5My Benefits

6My Benefits ProvideDEATH/ACCIDENT BENEFITSLONG-TERM DISABILITY INSURANCEMEDICAL AND DENTAL BENEFITSEMPLOYEE AND FAMILY ASSISTANCE CRITICAL ILLNESS/ OPTIONAL LIFETRAVEL HEALTH INSURANCEFINANCIAL SECURITYHEALTH AND WELLBEING

Presentation by Morneau Shepell#7How Does Group Insurance Work?

8Insurance is.PredictableLow CostHigh CostUnpredictableFULL INSURANCESELF - INSURANCE

Travel Health CoverageLife Insurance ClaimsSpecialty/ Biologic DrugsDisabilityDrugs for Acute ConditionsBasic DentalGlassesCholesterol MedsInsurance is efficient and economical when the insured risk is unforeseen and is high cost

Presentation by Morneau Shepell#9How do we pay for our group insurance?

CLAIMS

RESERVES

INSURER FEES

PREMIUM TAXESEmployer ContributionsEmployee Contributions

Presentation by Morneau Shepell#10What Impacts Life & LTD Renewal Rates?ClaimsReserves

Interest RatesDemographicsHealth

Most recent 5 years

Presentation by Morneau Shepell#11What Impacts Health & Dental Renewal Rates?Claims Insurance Company Administration/ExpensesTrends High cost drugsGenericsDental

Severe Rheumatoid ArthritisCrohns DiseaseVarious CancersSpecialty & Biologic MedicationsTypically $15,000-$30,000 per patient each year!Identical active ingredients as brand name drugsSafe, effectiveand only 1/3rd the cost!!!!

Presentation by Morneau Shepell#12How Can I Help to Manage/Reduce My CostsManaging Your HealthWise Consumer ChoicesGet active!90 day supply of maintenance drugsDrug store fees varyMake healthy food choices

Presentation by Morneau Shepell#13