|
|
Retiree Health Insurance Overview
At retirement we all must assume responsibility for insuring ourselves against the costs of many
fundamental health care expenses not covered by the provincial health insurance plan. OTIP's Retired
Teachers Insurance Plan (RTIP) offers four extended health care plans for all education employees.
Each plan includes prescription drug coverage for all participants at one price, regardless of age.
RTIP Gold Elite -
Unlimited coverage for “catastrophic” health care expenses
In addition to the benefits of RTIP Gold, RTIP Gold Elite offers coverage for catastrophic health care expenses - those that can devastate a family’s finances.
- Additional protection from unforeseen health care expenses related to acute sickness, serious accident or medical emergency
- 100% coverage for prescription drugs, with no annual maximum, when eligible claims exceed $4,500 per calendar year
- Additional $25,000 in combined coverage, per calendar year, for home care, private duty nursing, durable medical equipment and prosthetic appliances when eligible claims exceed $7,500 per calendar year
- Unlimited chiropractor and physiotherapy coverage for 12 consecutive months after an accident requiring a 24-hour hospitalization
Learn more about RTIP Gold Elite.
RTIP Plus
A truly comprehensive plan design for your health care needs
- $2,400 in prescription drugs per person, per year
- Unlimited semi-private hospital coverage
- Coverage for vision, hearing and paramedical services
- Deluxe travel insurance
- Dental coverage can be added at any time
RTIP Gold
Flexible to ensure your financial well-being is always protected
- Choose between $500 and $850 in prescription drug coverage per person, per year
- Hospital coverage options (up to unlimited semi-private) to suit your needs
- Coverage for vision, hearing and paramedical services
- Deluxe travel insurance
- Dental coverage can be added at any time
- Coordination with the Ontario Drug Benefit at age 65 for optimal coverage and affordability
RTIP Basic (Coordinating benefits?)
Effectively covers your basic health care needs with a highly affordable benefit plan
- $750 in prescription drug coverage per person, per year
- $100 semi-private or private hospital coverage
- Paramedical benefits
- Deluxe travel insurance
- Dental coverage can be added at any time
- Vision and hearing aid coverage not available
Deluxe Travel Insurance (included with all RTIP health plans)
- Emergency medical expenses up to $1 million Canadian per person, per trip
- Coverage remains effective for up to 62 days per trip, with unlimited trips
- $6,000 trip interruption and trip cancellation built in
- Travel card offers coverage 24 hours a day, 7 days a week
- View complete details (PDF, 222 KB) of the coverage and exclusions offered under the RTIP deluxe travel insurance
Top up coverage available for
trips over 62 days.
RTIP Dental Coverage
- Coverage for basic and preventative care, basic restorative, major restorative and denture care
- Dental coverage can be added to any of the RTIP health plans or purchased as a stand alone plan under RTIP Gold
- Add dental coverage at any time without penalty or restriction periods before you can claim full benefits
- Reimbursement is based on the prior year's Ontario Dental Association Suggested Fee Guide for General Practitioners
Planning Your Retirement
- Find out more about OTIP's retirement planning workshops
- Talk to an OTIP life and living benefits sales representative – call 1-800-267-6847 today!
|
|