SRA Rates 2011
May 30, 2011
Dear SRA Member:
The annual review of the Saskatchewan Retirees Association Group Benefit plan has been completed. Last year, you may recall a slight rate increase to both health and dental plans. Although health benefit costs are still anticipated to trend upward at 10% this year, we are pleased to advise that there will be a 6% decrease to the health rates due to lower than anticipated claims this past year. The incurred dental claims were just slightly below target which allows the dental rates to remain the same for the upcoming year and accounts for the 5% projected increase in dental costs and utilization.
Several factors have affected the performance of your plan over this renewal period. The Saskatchewan Seniors’ Drug Plan continues to be an important cost-containment measure along with other government Special Support Programs which have experienced increased participation– from 20% in 2009 to 29% in 2010. Additionally, the patent expiry of several high profile drugs has contributed to reduced prescription drug costs.
Given the above information, the monthly premiums for the SRA Benefit Plans – Extended Health and Dental for the policy year July 1, 2011 to June 30, 2012 will be:
|Extended Health:||from $102.60 to $96.43||from: $205.54 to $193.18||from: $244.56 to $229.86|
|Dental:||from $29.77 to $29.77||from: $59.55 to $59.55||from: $68.49 to $68.49|
We would also like to announce that effective July 1, 2011, the policy will allow coverage for hearing aid and vision purchases (glasses, contact lenses and exams) made out of Canada, out of province, or online. Please refer to the updated policy document on the SRA website after July 1 or call GMS at 1-800-667-3699 to ensure your claim meets the terms and conditions of the policy.
If you decide to terminate your coverage in the dental plan or both the health and dental plans, please advise GMS in writing no later than June 15, 2011 in order to discontinue automatic payment withdrawals from your bank account. Please note that a medical questionnaire will be required for acceptance into the extended health plan after termination. If you choose to terminate membership in the dental plan, you will not be able to re-enroll in the future.
The SRA Group Benefits Plan is an annual plan. Therefore, once you agree to the July 1, 2011 renewal, you will not be able to terminate your enrollment until the next renewal date of July 1, 2012.
Jack Peterson, Chair
Group Benefits, Saskatchewan Retirees Association
Cc Group Medical Services