Owen and Associates Association Sponsored Health and Dental Solutions

Owen and Associates Overview of Presentation  What is Supplemental Health Coverage?  Provincial coverage at a glance  Facts and figures  Our Health Care products  Premiums  Things you need to be aware of  Ancillary Services

Owen and Associates Introduction Question – are YOU one of the millions of Canadians not covered by a supplementary health plan? Without a supplementary health plan, you and your family WILL be vulnerable to routine and unexpected expenses not covered by the government health plan such as:  Major illness requiring expensive drug costs  Major dental work  Prolonged hospital stay  Homecare  Medical equipment requirements  Illness while traveling

Owen and Associates Why would I consider a supplemental health plan ? Common misconceptions  “The Government covers all my medical needs, right?”  “I’m healthy, why would I purchase a plan?”  “I have other financial priorities.”

Owen and Associates Why would I consider a supplemental health plan? A few items to consider  The Government only covers basic medical needs - like a trip to the doctor or hospital.  Your continued good health is not a given - health changes & accidents do happen.  What “financial priorities” could be more important than your health care?

Owen and Associates Overview of Provincial Health Plan Coverage Did you know …

Owen and Associates Facts and Figures  In 2007, households paid $3.9 billion out-of-pocket for prescription medication. Source: Canadian Institute for Health Information. Drug Expenditure in Canada: 1985 to May  In 2006, the average Canadian household spent $1,250 on health care costs not covered by provincial health plans - dental care, eye care, paramedicals – up 10% from Source: Statistics Canada

Owen and Associates Facts and Figures  As demand outstrips funding, provinces have begun to limit what services and procedures are covered and are refusing to pay for new services and medications. Source: Toronto Star. 21 June  More than half of Canadian employers are considering eliminating post-retirement benefits for most retirees to contain the soaring costs of health benefits. Source: AON Consulting Inc.

Owen and Associates Our Solution - Health and Dental Insurance Products for Our Members

Owen and Associates The TESL Ontario Association Health and Dental Plan  8 distinct plan choices  4 Drug & Dental, 4 Dental only  EHC benefits included  Web Site link available through Owen and Associates at your TESL home page and at

Owen and Associates Insurance Premiums

Owen and Associates Premiums  Rates are determined by plan type chosen, age, status, and province/territory of residence  Single, couple, child rates are offered  Premiums are subject to review annually  Coverage effective 1st of the month

Owen and Associates Premiums Favorable Tax Position  Deduction of premiums as a business expense  All family members can be deducted  Some maximums apply depending on type of business  Non taxable benefit for employees  Still able to claim under medical expense for excess Exceptions may apply - contact Canada Revenue Agency for details.

Owen and Associates Premiums Typical individual health insurance premium $1, Tax saving at a 40% level-(500.00) Prescription drug expenses per year Dental expenses per year Contact lenses expense per year Chiropractor/Registered Massage Therapist expenses per year The cost to you $ *The example shown is for illustration purposes only and is not meant to be representative of every situation. Your actual savings will depend on the policy selected and the expenses you incur. Please refer to your policy for complete coverage details, and consult your financial advisor.

Owen and Associates Things you need to be aware of

Owen and Associates Application Complete in full including medical information (if needed) First two months premium (age banded and per person, discounted for couples and large families) must accompany the application in the form of:  Cheque  Credit Card  Pre-authorization from financial institution Turn Around Time – 4-6 wks for underwritten apps and 2 wks for non-underwritten apps

Owen and Associates Underwriting Philosophy Our intent is to offer coverage for an ailment or condition which arises in the future.  Offer exclusion, rating or guaranteed issue plan (Counter offers) vs. accept or reject  For some conditions unable to offer coverage  Enrolled 1 st of the month, no waiting period Guaranteed issue plans also available to those with pre- existing conditions.

Owen and Associates Claims Service I.D card provided for up-front payment on most claims Currently over 90% of all claims are processed electronically Claims Customer Service   SecureServe TM (Internet support)  DrugCheck ®

Owen and Associates Additional Services For TESL Ontario Members

Owen and Associates Additional Services As consultants to TESL Ontario, Owen and Associates is available to provide you with guidance regarding:  Mortgage Insurance and Mortgages  Life Insurance  Critical Illness Insurance- provides a lump-sum should you become critically ill  Disability Insurance  Travel Insurance – Traditional  Out of Country Travel Insurance for those working outside of Canada for periods greater than 1 year  RRSP’s  Group Benefits and Pension for businesses We are independent and objective and work for you!

Owen and Associates Contact Us: For further information, please contact: Toronto Collingwood 208 Evans Avenue, Suite 107, 391 First Street, Suite 301, Toronto Ontario M8Z 1J7 Collingwood Ontario L9Y 1B3 Phone Fax Phone Fax Please refer to the Owen and Associates information leaflet in your TESL Conference bag

Owen and Associates Thank you!