ASEBP provides comprehensive group benefits coverage at a reasonable cost, working through the various complexities related to benefits design. This allows employers and employee groups to focus on which of the packages is best for them in the context of total compensation.
For details about the Added Choice options, please view the Added Choice Overview document (pdf).
In general, group benefit plans provide participants with protection from catastrophic financial loss and bridge gaps in coverage provided through government programs. For example, Life Insurance provides a level of income replacement to the family of an employee who has passed away, while Extended Health Care covers prescription medicines not provided through the provincial government health care insurance plan.
ASEBP offers two groupings of benefits – income replacement benefits and general health benefits. Income replacement benefits include Life Insurance, Accidental Death and Dismemberment Insurance, and Extended Disability Benefits. General health benefits include Extended Health Care, Dental Care, and Vision Care.
Income replacement benefits must be taken as a bundle and are a prerequisite for having general health coverage. For more information, see the Understanding Your Coverage Options section of the General Plan Provisions document.
ASEBP provides confidential administration services for Health Spending Accounts (HSAs). Plan provisions are governed by the Canada Revenue Agency, not the ASEBP Trustees. Within the Canada Revenue Agency provisions, some decisions, such as how much money will be in the account each year, are made jointly by the employer and employee group.
ASEBP offers two HSA administration services packages. This provides choice about how often roster changes are made and the frequency of expense reimbursement, while at the same time ensures ASEBP can offer best value through shared services. View the Health Spending Account Administrative Services brochure for more information.