The University of Waterloo renews benefit rates every May 1st. Participation is mandatory for all eligible full-time and part-time employees. Part-time employees are responsible for a portion of the total rate. For example, a part-time employee that works 3 days per week, year round, would have a FTE (full-time equivalency) of 60%-the employee would be responsible for paying 40% of the cost.  This cost sharing arrangement continues to apply in retirement for employees who are eligible for post-retirement (life insurance and extended health) benefits.

Extended health

100% University paid (prorated if part-time)
Single Family
$69.80* $222.74*

*includes taxes 

Dental

100% University paid (prorated if part-time)
Single Family
$47.81* $143.85*

*includes taxes 

Long-term disability*

100% employee paid
Long-term disability
0.971% of earnings

*Rates do not include applicable taxes 

 Example of rates on salary:

Salary Employee monthly premium rate 0.971% effective May 1, 2019
$35,000 $28.32
$65,000 $52.60
$100,000 $80.92
$125,000 $101.15
$179,471 $145.22

Life insurance*

Coverage for life insurance is available to a maximum of six times an employee’s annual earnings. Basic life insurance of one times earnings is provided for all employees and fully paid for by the University. Employees can elect optional life insurance coverage to a maximum of six times annual earnings when combined with basic life insurance.

Benefit Cost sharing Employee rates University rates
Basic life (1 x annual earnings) 100% University paid Nil $0.0930/$1,000
of coverage per month
Additional basic life (1 to 2 x annual earnings) 66.7% University paid $0.0310/$1000
of coverage per month 
$0.0620/$1,000
of coverage per month
Optional life (1 to 3 x annual earnings) 0% University paid Based on age, gender and smoking status (see rate table) Not applicable

*Rates do not include applicable taxes 

Example 1: Employee earns $50,000 per year and elects 3 x annual earnings coverage

The monthly premium corresponding with coverage of 3 x annual earnings for an employee with annual earnings of $50,000 is $13.95 per month with cost sharing as follows:

Coverage Employee monthly premium University monthly premium Total premium
Basic: $50,000 $0.00 $4.65 $4.65
Additional basic: $100,000 $3.10 $6.20 $9.30
Optional: $0 $0.00 $0.00 $0.00
Total monthly premiums
Combined: $150,000 $3.10 $10.85 $13.95

Example 2: Employee (male, age 50, non-smoker) earns $50,000 per year and elects 6 x annual earnings coverage

The monthly premium corresponding with coverage of 6 x annual earnings for an employee with annual earnings of $50,000 is $32.10 per month with cost sharing as follows:

Coverage Employee monthly premium University monthly premium Total premium
Basic: $50,000 $0.00 $4.65 $4.65
Additional basic: $100,000 $3.10 $6.20 $9.30
Optional: $150,000 $18.15 $0.00 $18.15
Total monthly premiums
Combined: $300,000 $21.25 $10.85 $32.10
Age Male smoker Male non-smoker Female smoker Female non-smoker
Age and smoking related premium rates applicable to optional life and spousal life insurance
Less than 24 $0.0425 $0.0175 $0.0175 $0.012
24-34 $0.050 $0.024 $0.0277 $0.0175
35-39 $0.0574 $0.0277 $0.0351 $0.024
40-44 $0.0777 $0.0425 $0.050 $0.0277
45-49 $0.1398 $0.0638 $0.0768 $0.0453
50-54 $0.249 $0.1213 $0.1277 $0.0768
55-59 $0.4148 $0.2037 $0.2037 $0.1213
60-64 $0.600 $0.300 $0.3324 $0.1981
65-69 $0.8675 $0.4343 $0.5231 $0.325