What is happening?
On May 1st of each year, the University of À¶Ý®ÊÓƵ’s extended health, dental, life insurance, and long-term disability (LTD) benefits are typically subject to a contract renewal. Where applicable, new rates are applied, and employee deductions processed.
How are new rates calculated?
The rates for extended health and dental benefits are established annually based on our expected claims for the upcoming year, plus taxes and GreenShield's charges for administration.
The rates for Life and LTD are established each year based on Sun Life Financial’s requirements for providing this insurance in accordance with claims experience and agreements in place.
What will the new benefits rates be?
The table below reflects the rates effective May 1st, 2025.
|
Benefit |
Monthly Rates |
Change from Last Year |
Cost Sharing |
|---|---|---|---|
|
Extended health |
$84.72 single $270.29 family (includes tax) |
Increase of 7.3% |
100% university paid (shared if part-time) |
|
Dental |
$64.12 single $192.95 family (includes tax) |
Increase of 3.0% |
100% university paid (shared if part-time) |
|
Life Insurance – 1 to 3 x earnings |
$0.169 per $1,000 of coverage * (excludes tax) |
Increase of 15.8% |
1 x earnings is paid by the university, 2 and 3 x earnings is 66.7% paid by the university |
|
Long-term disability (LTD) |
1.167% of earnings** (excludes tax) |
No change |
100% employee paid |
*Optional Life insurance (spousal coverage and up to an additional 3 x earnings for employee coverage) rates remain unchanged for the upcoming year
**the maximum insured salary effective May 1, 2025, is $208,428
Note: participation in the University’s benefits program is mandatory for all eligible employees.
Questions? ÌýPlease visit the Human Resources website to understand more about your benefits arrangements. For questions regarding these rates, please contact Human Resources at hrhelp@uwaterloo.ca.