Hour Bank Plan

Hourly Paid Employees

Summary for Hourbank Employees

  • Life Insurance – $100,000 for employees, $10,000 for spouse and $5,000 for dependents
  • Accidental Death Insurance – Additional $100,000 for employees
  • Long Term Disability – $2,500 per month for the first 2 years, increasing to $3,000 per month thereafter to a maximum of 85% of pre-disability income
  • Short Term Disability (OPTIONAL) – $800 per week up to 85% of pre-disability earnings to start the first day of accident or hospitalization or the 8th day of illness. Payable for 120 days
  • Prescription Drug Coverage – 80% coverage for most prescription drugs, no yearly limit. This coverage increases to 90% once an individual has incurred prescription drug claims of $5,000 or more in a calendar year
  • Dental Care – 80% coverage of basic services, 50% coverage of major services with a yearly limit of $2500 per person.  50% coverage on orthodontics with a lifetime limit of $2500. 
  • Paramedical Practitioners – $500 maximum per year, per person, per practitioner such as naturopaths, chiropractors, physio therapists, massage therapists, speech therapists, etc.
  • Vision Care – $350 every 2 calendar years for glasses or contact lens, $75 every 2 calendar years for eye exams, $150 every 2 calendar years for prescription safety glasses (employee only)
  • Out-of-Country Travel – up to $2 million coverage for medical emergencies outside of Canada, limited to 60 days of travel per trip
  • Employee and Family Assistance Plan – toll free 24/7 access to counselling services
  • Best Doctors Coverage – access to world-renowned specialists’ second opinion for serious illness or injury diagnosis
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