Dear AAPS Member,
Two years ago, in April 2007, the AAPS membership passed the motion to have UBC cease the payment of ¼ of the MSP premiums out of the 1% Benefits Accord effective midnight December 31, 2006 (click here for description/history). This action was taken to bring our 1% Benefits Accord out of a large deficit situation.
Today our 1% Benefits Accord has recovered and we currently have a large surplus.
Ideally, the fund should not be in deficit nor should it be carrying a large surplus. With the current large surplus, we have the opportunity to use this surplus to benefit AAPS members. Following are two options for you to consider:
Option 1
Reinstate the UBC payment of ¼ of the MSP premiums for those enrolled in the University MSP, beginning January 1, 2010.
1. MSP premium monthly savings to member
a. for one person – 54.00 will be reduced to 40.50
b. for family of two – 96.00 will be reduced to 72.00
c. for family of three or more – 108.00 will be reduced to 81.00
2. The process would be automatic.
Please note this option affects only those enrolled in MSP through UBC.
Option 2
Create a Health Spending Account (HSA) of $175.00 per member beginning January 1, 2010.
1. A health spending account would be allocated credits (dollars) to be used to reimburse members for items or services that are not covered or only partially covered under existing dental and extended health plans.
2. HSA would be fully integrated with current Sun Life Assurance Company accounts allowing online claims that are confidential to the individual member
3. Please see a list of eligible expenses at this link.
Please note this option affects every member who is FTE 0.5 or greater. There is no proration.
AAPS members will be asked to vote on their preferred option via the UBC election system from September 14th through 26th, 2009 and an email will be sent at that time directing them to now cast their vote.
Please direct any questions you may have regarding the two options to aaps@interchange.ubc.ca. All the received questions and replies will be posted on the AAPS website after Sept 2nd under an FAQ at this link as a resource for more information on the subject.
The status of funds in the 1% Benefits Accord will be reviewed annually since the balance will fluctuate with usage. While the decision before you will settle the current situation, going forward on an as needed basis, Members may again be asked to decide on which action to be taken to maintain as close to zero balance as possible.
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Associaton of Administrative and Professional Staff (AAPS)
University of British Columbia
Gerald McGavin Building
Rm 312, 2386 East Mall
Campus Mail Zone 3
Ph 822-9025 Fx 822-4699
www.aaps.ubc.ca
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