Actively at work: You are considered actively at work if you are performing your regular job duties on a scheduled workday. This may affect when certain benefits, such as life insurance or disability coverage, begin or increase.
Beneficiary: The person or people you choose to receive a benefit if you pass away, such as life insurance or retirement savings plan proceeds.
Benefit credits: Employer-provided credits that you can use to help pay for your benefit options under a flexible benefits plan.
Benefits waiting period: The length of time you must be employed before you become eligible for certain benefits.
Claim: A request submitted to Manulife or another benefits provider for payment or reimbursement of an eligible expense.
Coinsurance: The percentage of an eligible expense that is paid by the plan and the percentage you pay. For example, if a plan reimburses 80%, you pay the remaining 20%.
Coordination of benefits: If you are covered under more than one benefits plan, you may be able to submit a claim to both plans to recover up to 100% of an eligible expense, depending on the plan rules.
Core option: The default health and/or dental option under a flexible benefits plan. If you do not actively choose a different level of coverage during enrolment, you may be assigned the Core option. Core is designed to provide a basic level of coverage, while still allowing you to buy up for more coverage or buy down if a lower-cost option is available.
Claims statement (or electronic claims statement): A statement from Manulife that shows how your claim was processed, including the amount submitted, the amount paid by the plan and any amount you are responsible for paying.
Critical illness: Optional coverage that may pay a lump-sum benefit if you are diagnosed with a covered serious illness, such as certain cancers, heart attack, or stroke, and meet the plan’s requirements. The benefit can be used however you choose, such as helping with out-of-pocket costs, recovery expenses, or other financial needs.
Deductible: The amount you pay out of pocket for eligible expenses before the plan starts reimbursing costs.
Defined Contribution Pension Plan (DCPP): A registered pension plan where contributions are made to an individual account in your name. The retirement income available to you depends on contributions, investment returns, fees and your decisions at retirement.
Dependent: An eligible family member, such as a spouse, common-law partner, or child, who may be covered under your benefits plan if they meet the plan’s eligibility rules.
Drug formulary: A list of prescription drugs that are eligible for coverage under the benefits plan, subject to the plan’s rules and limits.
Evidence of Insurability (EOI): Information about your health that may be required by Manulife before certain coverage amounts are approved, usually for optional or higher levels of life or disability insurance.
Flexible benefits plan: A benefits plan that gives you choices so you can select the coverage that best fits your needs, such as different health, dental, life or disability coverage options.
Health Care Spending Account (HCSA): An account that can be used to reimburse eligible health and dental expenses that are not fully covered by the benefits plan, subject to applicable plan rules and tax rules.
Life insurance: Coverage that pays a benefit to your designated beneficiary if you pass away while covered under the plan.
Long-Term Disability (LTD): Coverage that may replace a portion of your income if you are unable to work for an extended period due to illness or injury and meet the plan’s definition of disability.
Matching contributions: Employer contributions made to a retirement or savings plan based on your own contributions, up to the limits set by the plan.
Out-of-pocket cost: The amount you pay yourself for an expense after any reimbursement from the benefits plan.
Pension Adjustment (PA): The value reported on your tax slip that reflects the retirement benefits earned through a registered pension or deferred profit-sharing plan. It reduces your available RRSP contribution room for the following year.
Plan administrator: The organization responsible for administering the plan, including enrolment, contributions, claims or other plan services, depending on the type of plan.
Plan sponsor: The employer or organization that provides the benefits, pension or savings plan.
Plus option: A buy-up health and/or dental option that provides a higher level of coverage than the Core option. If you choose the Plus option, you may pay a nominal payroll contribution for the additional coverage. This option may be a good fit if you expect to use more health or dental services and want greater reimbursement or coverage than the default Core option provides.
Predetermination: An estimate from Manulife showing how much may be reimbursed before you receive certain higher-cost services, such as major dental treatment.
Provincial health insurance plan: The government health coverage available to eligible residents of a Canadian province or territory. Most employer benefits plans are designed to supplement provincial health coverage.
Registered Retirement Income Fund (RRIF): A retirement income option that is often used when converting RRSP savings into retirement income. Minimum annual withdrawals are required.
Registered Retirement Savings Plan (RRSP): A personal retirement savings plan registered with the Canada Revenue Agency. Contributions may be tax-deductible, and investment growth is tax-deferred until withdrawn.
Reimbursement: The amount paid back to you by the benefits plan for an eligible expense, based on the plan’s coverage rules.
Short-Term Disability (STD): A company-provided program that may provide income protection for a shorter period of time if you are unable to work due to an eligible illness or injury. Short-Term Disability is intended to help support you during the early part of an approved medical absence, subject to the plan’s eligibility, approval process and requirements.
Specified Pension Plan (SPP): A registered pension plan available to eligible Republic Services non-union employees in Québec. The retirement income available to you depends on contributions, investment returns, fees and your decisions at retirement.
Tax-Free Savings Account (TFSA): A registered savings account where contributions are not tax-deductible, but investment growth and withdrawals are generally tax-free.
Telemedicine: A virtual health care service that allows you to connect with a licensed medical provider by phone, video or online platform. Telemedicine may be used for certain non-emergency health concerns, depending on the services available under the plan.
Waiting period: The length of time before coverage begins or before you are eligible to participate in a benefit, pension or savings plan.
Wellness Spending Account (WSA): An account that can be used to reimburse eligible wellness-related expenses, based on the plan’s rules. Eligible expenses may include items or services that support your physical, mental or overall well-being.
