The following benefit premium rates for UBC employees will be changing effective Jan. 1, 2012:
- Medical Services Plan (MSP)
- Employee and Spousal Optional Life
- Disability Benefit Plan for the “Other” Subgroup
- Disability Benefit Plan for Management & Professional Staff
- Income Replacement Plan for Faculty
- Extended Health and Dental Care for Sessional Faculty Under 50% Time
Medical Services Plan (MSP)
Premium rates for the provincial Medical Services Plan (MSP) are increasing, effective Jan. 1, 2012. UBC Employees who pay their MSP premiums through payroll deduction will see the increased cost on their Dec. 31, 2011 paycheque.
The new premiums will increase by $3.50 per month for individuals and $7 per month for couples and families. The new rates are:
- Single: $64
- Couple (family of two): $116
- Family (family of three or more): $128
The UBC employer and employee cost-sharing percentages for calculating MSP premium deductions will remain unchanged. For example, employees who pay 75% of the MSP monthly premium will continue to pay 75% of the new premium rate. Please note that MSP deductions are taken one month in advance, so employees who pay the full or partial cost will see the increased deduction on their Dec. 31, 2011, paycheques.
For a detailed list of the adjusted monthly rates by employee group and premium cost-sharing arrangement, please visit the UBC Human Resources Benefits Premium Rates page.
Employee and Spousal Optional Life
Effective Jan. 1, 2012, the UBC Employee and Spousal Optional Life premium rates will decrease by approximately 5%. Employees who are enrolled for Optional Life will the lower premium on their Dec. 31, 2011, paycheque (premiums are taken one month in advance). For more information, please review the UBC Human Resources Memo that was sent to employees affected by the change.
Disability Benefit Plan for the “Other” Subgroup
Effective Jan. 1, 2012, the Disability Benefit Plan premium rate for the “Other” subgroup will increase to 0.867% of monthly earnings. For more information, please review the UBC Human Resources Memo that was sent to employees affected by the change.
Disability Benefit Plan for Management & Professional Staff
Effective Jan. 1, 2012, the Disability Benefit Plan premium rate for Management & Professional Staff will decrease to 1.346% of monthly earnings. For more information, please review the UBC Human Resources Memo that was sent to Management & Professional Staff affected by the change.
Income Replacement Plan for Faculty
Effective Jan. 1, 2012, the Income Replacement Plan for Faculty moves to the fully-insured arrangement. There is also a new formula to calculate the monthly disability benefit for new claimants and a decrease to the premium rate to 0.65% of monthly earnings. For more information, please review the UBC Human Resources Memo that was sent to Faculty Members, Academic Executives and Staff High Earners affected by the change.
Extended Health and Dental Care for Sessional Faculty With Appointments Under 50% Time
Effective Jan. 1, 2012, the Extended Health and Dental Care premium rate for Sessional Faculty Under 50% will increase by 2% for Extended Health and 5% for Dental Care. For more information, please review the UBC Human Resources Memo that was sent to Sessional Faculty affected by the change.
If you have any questions or concerns about these changes, please contact benefitsinfo@hr.ubc.ca.
Premium rates for the provincial Medical Services Plan (MSP) are increasing, effective Jan. 1, 2011. UBC Employees who pay their MSP premiums through payroll deduction will see the increased cost on their Dec. 31, 2010 paycheque.
