CAUBO, through the National Benefits Steering Committee, has been looking at ways to help member institutions manage the rising benefits costs and risks by forming a consortium of members working with common providers. Proposals have been received from Manulife and Green Shield Canada that have the potential to provide cost efficiencies to participating member institutions of all sizes. An information document with key details of each proposal is available here (for institutional members only).
Information sessions were offered by CAUBO to members throughout April and May with the objective to learn more about Manulife and GSC proposals. The information sessions received a great response and a high attendance rate, signalling a strong interest among members to learn more about how a CAUBO Benefit Consortium may provide value to institutions and to the sector. If you missed the information sessions and are interested in learning more about the initiative, the recordings are available online for you to watch on-demand.
CAUBO sought preliminary expressions of interest in joining the consortium from members this Spring. Institution-specific quotes are being prepared for those who expressed their interest, based on the experience, current plan design, and pooling arrangement of each potential participating institution.
Institutions will be asked to make a formal commitment to join the consortium in the Fall 2021. If the expressions of interest result in a large enough number of insured lives to realize the targeted cost savings and risk mitigation, then the consortiums will be formally launched, bringing to fruition an exciting and innovative initiative in the area of HE employee benefits. Institutions will have the opportunity to join the consortium programs at a later time as well.
For questions or feedback regarding this initiative, please contact Elizabeth Taylor (firstname.lastname@example.org).