New OHA Insurance Plan for Health Providers Provides Value for Money for Taxpayers
Ontario Hospital Association
200 Front Street West, Suite 2800
Toronto, Ontario, M5V 3L1
Tel: (416) 205-1345 Fax: (416) 205-1360
Visit our Web Site: http://www.oha.com
Wednesday, July 27, 2005
TORONTO – Better insurance programs for employees at a more competitive cost to Ontario healthcare providers are some of the most significant benefits of a new insurance partnership between the Ontario Hospital Association (OHA) and Sun Life Financial, the OHA announced today.
"With such a large workforce in Ontario hospitals and across the healthcare system, we have a responsibility to help ensure that insurance spending is as cost-effective as possible," said OHA President and CEO Hilary Short. "Our new agreement with Sun Life Financial will ensure that healthcare organizations have access to more competitive group insurance rates. It will also help reduce administrative costs and provide greater value-for-money for taxpayers."
OHA Sponsored Group Benefit Programs were created in 1962 to provide cost effective insurance services to Ontario’s hospitals and other healthcare providers. With these benefit plans in a strong financial position, the contract to provide insurance services for OHA Sponsored Group Benefits Programs was recently put to tender. After an extensive review of the marketplace, Sun Life Financial was selected as the OHA Sponsored Group Benefit Plans provider.
"Even though Local Health Integration Networks are being created there remains a greater financial advantage for hospitals in participating in this larger province-wide group benefits program," added Short. "Ontario’s hospitals are national leaders when it comes to efficiency and using the taxpayer’s resources wisely. Our new agreement with Sun Life Financial will only continue to advance this very important health system goal."
The OHA is also exploring the possibility of establishing a Health and Dental Plan as part of its efforts to provide maximum value to hospitals and other healthcare organizations with its insurance benefits program.
The OHA Sponsored Group Benefit Plans currently provide Long Term Disability (HOODIP), Basic and Voluntary Life (HOOGLIP & HOOVLIP) and Accidental Death and Dismemberment Coverage (AD&D) coverage for over 60,000 employees in Ontario healthcare organizations. 270 healthcare employers currently participate in the program.
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For further information:
OHA Public Affairs
416-205-1348