After switching insurance companies, the McMaster Students Union is offering what it says is a better, and less expensive, health plan to students.
In all areas of coverage, the plan has either offered the same benefits or has improved, said Jeff Wyngaarden, Vice-President (Finance) of the MSU.
The MSU left Trothen and McConkey for ACL Insurance, who also administers the dental plan. ACL has developed relationships with pharmacies, including Shopper’s Drug Mart, so that Shoppers will offer discounted rates on the co-pay component of the plan. ACL is willing to make similar arrangements with local pharmacies.
Shopper’s will also be able to determine if a student is covered based on their student number.
Although the per-student cost will be less for the MSU, students will not feel those savings right away. The health plan will cost each user $56.71 – same as last year, plus an increase for CPI. This is about ten dollars more per student than the cost of the plan.
“We can’t lower the fee right now because it has to go through the Board of Governors first,” said Wyngaarden. “But it’s a possibility for future years because we’re going to be taking that extra money and putting it in the health plan account. It’s possible that we could decrease the fee, increase coverage at no or less cost … we have a number of options.”
Almost 16,000 students used the health plan last year.