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Your Costs

The following are the costs you pay monthly and are valid for the benefit year (April 1, 2025 to March 31, 2026). These premiums are subject to change based on the annual renewal process. You can also find information about the current rates in the Retiree Benefits Rate Sheet.

Costs per Month
  Retirees Under Age 65 Retirees Over Age 65
Health Option 1    
Single $296.40 $238.67
Family $631.25 $508.19
Option 2    
Single $254.11 $185.88
Family $547.05 $396.00
Option 3    
Single $179.28 $143.49
Family $381.75 $305.63
Option 4    
Single $33.86 $33.86
Family $72.18 $72.18
  All Retirees
Travel Single $13.80
Family $27.62
Dental Plan A
Single $34.48
Family $78.01
Plan B
Single $38.33
Family $86.73
Basic life for your dependents Flat amount $0.78
Optional life Employee and spouse
(per $1,000 of coverage)
 Under Age 35: $0.059
Age 35-39 $0.069
Age 40-44 $0.120
Age 45-49 $0.202
Age 50-54 $0.342
Age 55-59 $0.581
Age 60-64 $0.932
Dependent children (flat amount) $1.24
Optional AD&D Single
(per $1,000 of coverage)
 $0.0204
Family
(per $1,000 of coverage)
 $0.0376

Example: How to Calculate Your Costs

If you choose $100,000 (100 units of $1,000) of Optional AD&D insurance, your monthly cost will be calculated as follows:

Coverage Cost
Single 100 x $0.0204 = $2.04 per month
Family 100 x $0.0376 = $3.76 per month

How Rates Are Determined

The insurer determines the rates for travel, life and AD&D insurance.

The rates for health and dental coverage, however, are based on a number of factors, including:

  • the increasing cost of drugs,
  • the introduction of new, expensive drugs,
  • new medical technology, and
  • changes in legislation that make private plans the first payers over the provincial health plan.

But there’s another factor that has a significant impact on plan costs: your claims.

The more the plan is used, the more the plan will cost the following year. In fact, your plan essentially works like a bank account:

  1. Your premiums are deposited into the plan’s fund or account.
  2. Whenever a claim is paid, the amount is withdrawn from the account.
  3. As a result, the PSGIP Trustees must ensure there is enough money in the account to cover all the claims, as well as the expenses to administer the plan.

Consumer Tips

Things You Can Do to Help Keep Plan Costs Down

Each plan member has a role to play in helping control expenses. After all, it’s your plan and your money.

Keeping costs down is easier than you might think. Here are some useful consumer tips that contribute to the well-being of the plan and your wallet.

  • When your doctor prescribes a medication, ask about less expensive therapeutic options.
  • Compare prices. Not all pharmacies charge the same amount for prescription drugs. Shop around.
  • Take your medication as directed. Ask your doctor or pharmacist the following questions:
    • Are there any side effects? If so, what do I do?
    • Will this drug have any effects on other drugs (prescription or over-the-counter drugs) that I am also taking?
    • Are there certain types of foods or drinks that I must avoid while taking this drug?
    • Are there alternatives to this drug or other solutions for my condition?
  • Talk to your pharmacist, who can offer you free professional advice.
  • Determine the right quantity of prescription drugs.
    • Consider a sample or trial prescription when you are trying a drug for the first time. That way, you will save money if you have to discontinue a drug because of an allergic reaction.
    • Ask for a larger supply if you are taking medication on an ongoing basis. As a result, you will save on the pharmacist’s dispensing fees.
  • Stay active and eat right. A healthy diet can also positively affect your overall health. Whatever form of exercise you enjoy, it will help you reduce the risk of heart disease and other serious health problems.
  • In addition to exercise, you can get involved in hobbies, do volunteer work, take classes, and more.
  • Staying active and involved in your community is also good for your mental health and overall well-being.