Alternative Retiree Benefits Plans
There are other benefits plans available to retirees, outside of what Algonquin College offers to its employee alumni. Some alternative plan providers include (but are not limited to – this is not an exhaustive list):
| Insurance Plan/Carrier | Telephone No. |
|---|---|
| Manulife Financial – Under the Cover Me Plan | 1-877-268-3763 |
| Great West Life – Plan Direct | 1-800-565-4066 |
| Active Retired Members (ARM) | 1-800-267-7867 |
| Retired Teachers Insurance Plan (RTIP) | 1-800-267-6847 |
| Municipal Retirees Organization Ontario (MROO) | 1-800-363-7861 |
| Retired Teachers of Ontario (RTO) | 1-877-406-9007 |
Some tips to consider when selecting an alternative benefits provider:
- Ensure that you select a plan(s) that provides you with the level of coverage you need both now and in the future
- Normally Health care is more of a concern to an individual than Dental care. For instance, based on your dental needs, you may elect not to purchase a dental plan at all, and just pay-as-you-go
- If your spouse still has coverage through their employer, make sure you take advantage of their benefits first
- Look for limitations and/or exclusion within each plan and ask detailed questions about the type of coverage you will be receiving
- Note that each of these plans will only allow you a certain number of days to apply for coverage without having to provide evidence of insurability. This is particularly important to anyone who currently has a medical condition for which you may be denied coverage or you will have to pay higher premium rates because of the condition
- Some plans require that you be enrolled prior to your 65th birthday – make sure that you are able to submit claims from the date of enrolment
- Out-of-country coverage (Travel Insurance) – make sure the plan covers your medical needs and that you are familiar with the requirement for ensuring payment of claims, if treatment is required when travelling out of country