Premium Rates are Changing for 2024-2025

ASEBP knows a benefit plan is an important resource in covered members’ wellness journeys and their health goals. Benefits are a safety blanket and a resource to lean on when a variety of support is needed such as routine dental check-ups, managing health short-term or long-term health needs, mental well-being guidance, or career or major life changes coaching. When changes to premium rates are needed, it’s not something ASEBP takes lightly as a benefit provider. 

Premium rates are changing 

Effective September 1, 2024, covered members who pay their own premium rate and MyRetiree Plan benefits will increase for the 2024-2025 benefit year. As part of industry best practice, ASEBP reviews the costs of plans and rates annually to ensure the sustainability of the plan and the benefits options we offer. 

If you pay your own ASEBP premiums, you will receive a premium notice for 2024-2025 no later than mid-July on My ASEBP. To view the notice, visit the Documents tab and select Benefit Premiums. If you do not have a My ASEBP account, you will receive your notice in the mail.  

MyRetiree Plan premium rate   

The new plan changes for MyRetiree Plan, Core coverage, will include: 

• 5% increase for Extended Heath Care plans for those under 65. 
• 4% increase for Extended Heath Care plans for those over 65. 
• 4% increase for Dental plan. 

The new plan changes for MyRetiree Plan, Enhanced coverage, will include: 

• 14% increase for Extended Heath Care plans for those under 65. 
• 13% increase for Extended Heath Care plans for those over 65. 
• 9% increase for Dental plan. 

If you have not received your notice by September 1, 2024, please contact ASEBP at benefits@asebp.ca or by calling the toll-free number 1-877-431-4786. 

Why is my premium rate going up? 

As a not-for-profit organization, rate increases are not implemented to increase profits but to offset the costs between the premiums collected and the actual claim costs. Factors affecting 2024-2025 premium rates include: 

• Extended Heath Care Claims and Dental care costs have increased as a direct result of the high inflation environment in Canada, which is not unique to ASEBP.   

• Due to high inflation, particularly on prescription medication prices and increased use of paramedical services such as psychology, massage, physiotherapy, ASEBP had to increase 2024-2025 premiums to close the gap between premiums collected and actual claim costs.   

ASEBP is committed to limiting future increases and continues to work towards balancing premiums collected with actual claim costs to continue meeting the needs of covered members and ensuring the plan's sustainability. 

How ASEBP contains premium rates 

ASEBP has put in place cost containment measures to support covered members’ premiums and the sustainability of the plan, including: 

• ASEBP’s Trustees have approved select benefit plan items that will not increase premium rates. 
• Working in close partnership with Alberta Blue Cross to manage drug expenditures.   
• Routinely reviewing claims for accuracy while implementing measures to prevent and detect inappropriate and unusual claims to prevent fraud and abuse of benefits.    
• Continuing to offer an Employee and Family Assistance Plan (EFAP) with providers’ contracted rates below market rates for psychological services.  
• Expanding the generic substitution policy for prescription drugs to manage the rising costs of drugs due to inflation. 

If you would like to discuss your benefit plan options in light of these premium changes, please contact an ASEBP benefit specialist at benefits@asebp.ca, toll-free at 1-877-431-4545, or by booking a phone, video, or an in-person meeting at asebp.ca/contact-us.