All employees up to age 75, single or family, with valid Canadian government health insurance plan coverage in effect and who actively work a minimum of 20 hours per week are eligible to receive Stop Loss Insurance.
Stop Loss Insurance provides:
- A $1-million aggregate limit per person, per sickness or injury, less a $3,000 deductible
- The deductible can be rolled into an employee’s Private Health Services Plan, meaning it can be covered at no cost to the employee depending on their PHSP limit
- Hospital coverage is exempt from the deductible, and covers up to 14 days in a semi-private room
- Coverage for prescription drugs, paramedical services, and ambulance services with payment of the deductible as related to the catastrophic event