FREQUENTLY ASKED BENEFITS QUESTIONS

Q:  Dear Expert,

Am I really supposed to read and understand all the details of my benefit plan, and why is it so complicated?

Signed,
Confused

A:  Dear Confused,

Since this is your benefit plan, understanding your coverage and how it works is essential to you getting the most from this important perquisite. Unfortunately, benefit plans are somewhat complicated, often covering over ten distinctly different types of coverage, from life insurance to travel assistance plans. That’s a good thing as most Canadians are afforded comprehensive protection in many different areas. As the owner of your benefit plan, it is important that you understand how each benefit operates, its purpose, and how to use it properly in order that you get the most from the plan. This doesn’t mean that you have to become a benefits expert, but it does mean that you should be responsible about your enrollment and use of the plan — a good consumer. Insurance regulations require that each plan member receive complete information about the terms and conditions of their coverage. I suggest that you carefully read your benefits booklet and don’t be shy about asking questions to your employer or the insurance company about things you don’t understand. Get educated, be responsible, and enjoy your wonderful benefit plan.

Submit your own question!

Back to Frequently Asked Questions