Annual Re-Enrollment November 21st to December 5th, 2023
CAE conducted the annual review of the plan to ensure that it remains competitive from a design and cost sharing perspective. The overall benefits plan design remains the same for 2024 with enhancements to the eligible health care services and to the maximum coverages for some health care services. Enhancements include:
The formula to calculate your CAEselect Dollars for 2024 was sent to you in the email you received to access this site. Your individual costs depend on the options you choose and the number of people you cover. You can model the costs and the changes to your benefits selections in the CAEselect Tool.
As you prepare to select your benefits, think about what is right for you and your family. Understand what you need. Consider what you spend each year on things such as glasses, chiropractors, and other medical and dental expenses. Consider last year’s selection and what your out-of-pocket expenses were. Do you need to increase or decrease your coverage?
At CAE, keeping you and your family healthy and safe is our priority. CAE has programs and resources that are available to you to support your physical, emotional, and financial health. Your CAEselect Benefits program offers you the flexibility and choice to provide the coverage that you and your family need.
Recognizing Indigenous Health Services
At CAE, providing culturally appropriate health care options is critical to our organization. This includes offering products and solutions to help make our workplace benefits more inclusive.
Currently, Indigenous health services are covered under the standard Personal Spending Account (PSA). This year, there is a new category for these services in the PSA, making it easier for you to know and understand this coverage.
Expenses covered under the PSA include:
The new category appears on mysunlife.ca and the my Sun Life mobile app.
For more information on the Personal Spending Account go to FAQs.
Changes to the Life Insurance Coverage
Basic, supplemental and optional life insurance coverages previously terminated at age 65 for CAE non-unionized employees. Coverage will now be extended until* your retirement or on your 70th birthday, whichever is earlier. Life insurance coverages also terminate at age 70 for CMAT employees.
*Other conditions may apply to end of coverage.
CAEselect Dollars
Your CAEselect Benefits program offers you the flexibility and choice to provide the coverage that you and your family need. Each year, you receive an allocation of CAEselect Dollars, based on a fixed dollar allocation and a percentage of your base salary. Each benefit has a price tag. Your allocation of CAEselect Dollars pays for your mandatory coverage as well as all, or part of, your chosen options. Check the email you received to understand how to calculate your allocation for 2024.
Unspent CAEselect Dollars can be added to your Health Spending Account (HSA), Personal Spending Account (PSA), or to your CAE Group RRSP.
Access the complete lists of eligible PSA and HSA expenses in the FAQ tab.
Important! Don’t forget to allocate your unspent CAEselect Dollars to the account that you want. If you do not make a formal choice, unspent dollars will automatically be deposited in your Health Spending Account (HSA), even if you allocated them to a different account at the last re-enrollment or at your initial enrollment.