Overview
One of the major changes affecting retired faculty members, and those individuals working past age 71, is the termination of the generous UBC benefits package including extended health and dental coverage, as well as access to the Employee and Family Assistance Program. As part of your retirement planning, you will need to consider the current and future health needs of you and your spouse/partner, and any dependents. The research and decision-making process will likely take a fair amount of time, so don’t leave this to the last minute.
Health, Dental and Travel Insurance
There are key factors for you to consider in making a decision about what health, dental and travel insurance coverage is best in your situation. In addition to the following information, check out the comprehensive the UBC Emeritus College Guide to Health and Travel Insurance (on our Key Documents page) for greater detail. The Guide is updated as needed and contains information about the four plans outlined below, costs, travel insurance, BC’s Fair PharmaCare Plan and Medical Services Plan. It also includes information on pre-existing conditions and stability clauses, comparison charts, examples, and contact information. After you read this Guide, if you have any questions please contact the UBC Emeritus College office.
The four plans are:
- UBC Extended Health, Dental and EFAP Option
The Sun Life Retirement and Survivor Benefits (RSB) Program for UBC faculty retirees, and those working at UBC past age 71, includes three benefit plans: Extended Health (with limited emergency travel insurance), Dental, and the Employee and Family Assistance Plan (EFAP). Details of these three plans, including eligibility, are linked from the UBC Human Resources RSB page, which includes a link to a helpful comparison of how the RSB program compares with the coverage current faculty members enjoy. Note that you have just 31 days from your actual retirement date to enroll in the optional RSB plans. It is not possible to make a decision to join at any later date, and if you cancel coverage you cannot reverse that decision. For more information, contact the Retirement Benefits Administrator at benefitsinfo@hr.ubc.ca or (604) 822-4580.
The following three insurance plans have been secured by the UBC Emeritus College for retired faculty members and faculty members continuing to work at UBC past age 71:
2. The Johnson Plan (extended health, dental and travel insurance)
Phone: 1-877-989-2600
Email: pbservicewest@johnson.ca
Website: https://www.johnson.ca/affinity/ubc
3. The RTOERO Plan (extended health, dental and travel insurance)
Phone: 1-877-406-9007
Website: https://rtoero.ca/insurance/extended-health-care-plan/
4. The MEDOC Plan (travel insurance)
Phone: 1-866-606-3362
Website: https://www.johnson.ca/travel-insurance
Many individuals choose to have one or more components of the UBC RSB Program in addition to another plan, since the plans complement and reinforce each other.
You may also wish to consider the Canadian Dental Care Plan should you meet its eligibility requirements.
Life Insurance
Once you retire, or have reduced coverage (e.g., by working past your normal retirement date), your Basic Group Life Insurance, Optional Life Insurance, and Accidental Death and Dismemberment Insurance plans expire. You have the option to convert your Sun Life group insurance policy to an individual policy with Sun Life. After your actual retirement date at UBC (or once you have reduced coverage), you have 31 days to make the conversion.
To convert your Sun Life group policy (050555-G-014) to an individual policy, speak with a Sun Life representative directly by calling: 1 (877) 893-9893.
Further information is available from UBC Human Resources, on the Life Insurance Conversion page.
Wills and Future Care
As we age and our personal circumstances change, it is important to review and keep current our wills and future care documents such as power of attorney, health representation agreements and advance care planning. You may wish to seek legal advice from a lawyer who specializes in wills, estates and trusts. There is also helpful information provided by The Government of British Columbia on Wills and Estate Planning, which covers making a will, advance directives and representation agreements, and a link to “Substitute Decision-Making and Incapacity Planning".