Important Considerations

• Think about your likely medical care needs for the coming year.
• Check your past expenses for these types of services via the Manulife website.
• Do you have coverage elsewhere (your spouse’s employers’ plan)?
• You will be able to elect a higher or lower option at the next annual enrolment unless you have elected Dental option 2 and 3 or Extended Health option 3, as these options have a two-year lock-in period.

As you think about your needs, consider the following:

• Do you tend to have extensive health care expenses that are not covered by provincial health care?
• Do you have coverage available to you through your spouse's employer?
• Do you have a need for paramedical coverage, vision care and/or medical supply coverage?
• Do you or any of your dependents make frequent visits to a physiotherapist or other paramedical practitioner?
• Do you typically use the Dental plan primarily for cleanings and check-ups only?
• Do you have dependent children who require orthodontic treatment?
• Will you or your spouse require major dental treatment in the next two years?
• Is the occasional Physiotherapy the only medical expense you have in a year?
• What effect would your death or the death of a dependent have on your family's financial situation?
• Is there an alternative income on which your family could rely in the event of your death?
• Are there significant long-term expenses in your family's future (such as a mortgage or education expenses)?
• Do you or your spouse have life insurance from another source? Is the coverage adequate for your needs? Is it competitively priced?
• Do you have the resources to pay for a funeral in the event of your spouse's or child's death?
• Do you have alternate income in the event of a disabling injury?
• What if you were in a serious accident, would you have adequate coverage for any additional expenses as a result?

Extended Health Requirements

If you encounter a medical emergency requiring extensive prescription drug coverage, you will receive 100% coverage after the out-of-pocket maximum is reached.

Do you tend to have extensive health care expenses that are not covered by provincial health care?

No?
You may wish to use the HSA in combination with Option 1 to free up FlexDollars for use elsewhere

Yes?
Consider Option 2 or Option 3, which covers a higher portion of your extended health expenses, with Option 3 offering the highest level of coverage

Do you have coverage available to you through your spouse's employer?

No?
Consider option 2 or 3 for the greatest amount of coverage.

Yes?
Compare your spouse's coverage to options under your plan. You may want to select Option 1 and coordinate benefits where you can or opt out entirely and direct FlexDollars elsewhere – towards some insurance coverage or to your HSA.

Do you have a need for paramedical coverage, vision care and/or medical supply coverage?

No?
You may wish to use the HSA in combination with Option 1 to free up FlexDollars for use elsewhere

Yes?
Consider Option 2 or 3, which covers a higher portion of your expenses, with Option 3 offering the highest level of coverage

Do you or any of your dependents make frequent visits to a physiotherapist or other paramedical practitioner?

No?
Option 1 has no coverage for Paramedical services.

Yes?
Option 2 or 3, which feature $500 and $600 paramedical coverage per person, respectively

Dental

Do you typically use the Dental plan primarily for cleanings and check-ups only?

Yes?
All three options offer Basic dental coverage (cleanings and check-ups), at varying levels of coverage (80%, 90% or 100%). However, Option 1 will give you additional FlexDollars to use elsewhere. Or, you can opt out of the Dental plan and direct the credits to your HSA to pay for these basic services.

Do you have dependent children who require orthodontic treatment?

Yes?
Orthodontic services are covered under both Options 2 and 3. Option 3 features higher coverage (60% vs. 50%) and a higher lifetime maximum ($3,000 vs. $2,000). You need to decide whether the higher cost you pay is worth the additional coverage. And remember, you can also use the HSA to help pay for the cost of orthodontic treatment. Finally, if you do choose Option 2 or 3 for Dental, remember that you there is a two year lock-in period for those options during which you will not be able to change your coverage.

Will you or your spouse require major dental treatment in the next two years?

Yes?
Keep in mind that major dental services are also only provided under Options 2 and 3 – again with a higher coverage level and higher maximum under Option 3. But be prepared to remain with that choice for 2 years.

Health Spending Account

You can use your HSA to help pay for any other services like paramedical or vision care – a tax-effective use of those additional FlexDollars

Is the occasional Physiotherapy the only medical expense you have in a year?

Yes?
Option 1 extended health option may suit you quite well. By using the HSA in combination with Option 1, you can receive the right level of coverage to pay for your physio costs and meet your needs.

Life and Accident insurance

What effect would your death or the death of a dependent have on your family's financial situation?

You need to assess the level of income replacement you or your spouse would require, in the event one of you dies.

Is there an alternative income on which your family could rely in the event of your death?

No?
You may want to enhance your Life insurance coverage.

Yes?
You may not require as much coverage for yourself.

Are there significant long-term expenses in your family's future (such as a mortgage or education expenses)?

No?
You may have mortgage insurance, or you may have education funds already set up for your children.

Yes?
You may want to plan for these expenses in the event of your death by purchasing additional Life Insurance.

Do you or your spouse have life insurance from another source? Is the coverage adequate for your needs? Is it competitively priced?

You should examine your current needs and coverage levels to make sure you and your spouse are adequately covered. Also, check the cost of your current coverage. Typically, life insurance provided to companies is subject to a group rate, which can be less costly than the premiums you pay for individual policies.

Do you have the resources to pay for a funeral in the event of your spouse's or child's death?

You may want to consider taking additional life insurance for your dependents, to cover the funeral costs.

Disability Insurance

Do you have alternate income in the event of a disabling injury?

No?
You may wish to consider choosing one of the higher Disability options, offering you a higher percentage of your earnings plus the benefit of indexing of your payments.

Accidental Death & Dismemberment Insurance

What if you were in a serious accident, would you have adequate coverage for any additional expenses as a result?

No?
You may require additional income to modify your home, re-train you for a different job, or even help pay the cost of alternative treatment not covered under the health option you selected. AD&D insurance offers you additional income protection and it is less costly than Life insurance. In addition, you are not required to provide any evidence of insurability for AD&D coverage.