Retirement health coverage premiums

Find out the cost of retirement health coverage.


Overview

BC's College Pension Plan does not subsidize extended health care or dental premiums.

Coverage can change at any time, and your premiums, subsidies and deductibles could increase, decrease or be eliminated.

The premiums you pay for your retirement health coverage are automatically deducted from your monthly pension payment. If your pension payment cannot cover the extended health care and dental premiums, you must pay Green Shield Canada directly through pre-authorized debit. You will receive an invoice from the BC government for your Medical Services Plan premium.

We deduct premiums one month in advance. For example, if you retire on April 30, your pension is effective May 1 and coverage will begin June 1. The deduction for June will be taken from your May pension payment.

Extended health care and/or dental coverage begins on the first of the month after the month your pension is effective. One deduction will be taken from your first pension payment.

If you require extended health care and/or dental coverage beginning the first of the month your pension is effective, you can indicate this when you apply for your pension. An additional deduction will come off your first pension payment: one for the current month and one (in advance) for the following month.

This direct payment option is also available to your spouse after your death if they continue to receive pension payments and were covered by the extended health care or dental plan when you died. Contact us for more information.

Note: The extended health care and dental premiums you pay may be tax deductible as part of your eligible medical expenses.


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External links for retirement health coverage

Green Shield Canada

Medical Services Plan of BC

Related links for retirement health care premiums

Beneficiaries

Planning for retirement

Applying for your pension