The Merit Hour Bank Benefit Plan

 

  • The Merit Hour Bank Benefit Plan is uniquely designed for the construction industry
  • Comprehensive health benefit coverage - the best in the industry!
  • Very economical and competitive - one flat hourly rate
  • No payment for benefits during vacation periods
  • Hassle-free! MerCon Benefit Services handles all paper-work and administration
  • Employee benefits are transferable from one Merit member employer to another across Canada
  • Employee can be covered (in-benefit) when not working
  • Can be used in conjunction with a spousal plan to provide 100% coverage
  • No medical examination is required to be enrolled

Merit Contractors Association, Construction, benefits, office staff, supervisory staff

Merit's comprehensive medical/dental/vision insurance programs are Merit's most importantservice and the primary reason contractors join Merit. Features include an Employee & Family Assistance Program, Employee Life Insurance, Accidental Death & Dismemberment Insurance, Dependent Life Insurance and Long Term Disability Coverage.

Our benefit plans are offered by Great West Life and The Cooperators but administered independently by MerCon Benefit Services.

 

How does the Merit Hour Bank Benefit Plan work?

  • Must work 300 hours to be eligible (However, if desired, an employer can "kick-start" an employee on Merit's plan right away by paying for these hours up-front.)
  • Employer reports employees' total hours worked by 15th each month.
  • 150 hours are deducted each month from each employee's hour bank account to pay for coverage
  • Can accumulate maximum of 900 hours (approximately equivalent to six months of work)
  • Remain "in benefit" until bank balance is less than 150 hours, but ...
  • Can pay self up to 6 months to ensure coverage continues ...
  • and have eight months to get bank balance back to 150 hours in order to be re-instated on the plan

 

 

"Kick Start" in the Hour Bank Benefit Plan Policy

 

Normally, an employee must accumulate 300 hours under the Hour Bank Benefit Plan in order to be "in-benefit". 150 hours will then be deducted from his/her hour bank account for each month of benefit coverage. This means that an employee comes into benefit in the fourth month following the month that hours start being remitted on his/her behalf.

In some cases, we allow the "kick start" of benefits prior to an employee accumulating 300 hours in the Hour Bank Benefit Plan, by the company "purchasing" 2 months of benefit (300 hours).

For example, for a January kick start, 300 hours would be remitted (prior to the 15th of December) and would provide coverage for January and February. The employer would then begin submitting actual hours worked for the employee, starting with January hours (January hours provide benefit coverage for March).

"Kick starting" can be used in the following circumstances:

  • to provide immediate coverage for a company's employees employed at the date of participation in the Hour Bank plan. This is often done for companies who have existing plans at the date of joining the Merit plan, or when companies want to provide immediate coverage for long service employees;
  • for key employees hired after the effective date, in order to accelerate their effective date of coverage.

Once the company has made the decision to kick start an employee, the hours cannot be reversed should the employee leave the employer prior to the 2 months of coverage expiring. Once the first eligibility package leaves MerCon, coverage must remain in effect until the end of the 2-month period.

A kick start must be elected at the time of the implementation of the plan and payment submitted prior to the 15th of the month prior to the effective date of coverage. Similarly, payment for kick start for a key employee must be submitted prior to the 15th of the month prior to the effective date of coverage.

 

Additional information can be found in the following documents:

  • Merit Hour Bank Benefit Plan - Features (PDF)
  • Merit Hour Bank Benefit Plan - NL Summary (PDF)
  • Merit Hour Bank Benefit Plan - NL Employer and Employee Benefit Plan Costs (PDF)
  • Merit Hour Bank Benefit Plan - Employer Membership Cost (PDF)
  • Merit Hour Bank Benefit Plan - Participation Policy (PDF)

 

Merit Office Supervisory Benefit Plan

 

Life Insurance
For employees 1, 2, or 3 times the annual earnings, as elected by the employer, to an overall maximum of $300,000.


Accidental Death & Dismemberment Insurance
Employee - As above 

 

Dependent Life Insurance

  • Spouse - $10,000
  • Child - $5,000 

 

Extended Health Care for Employees & Dependents

  • Prescription drugs - 80% - no annual maximum
  • Emergency out-of-country - 100%
  • Other health expenses (specified limits) - 100%
  • Overall maximum - Unlimited

 
Vision Care for Employees & Dependents

  • All covered expenses - 100%
  • Maximum - $300 every 2 calendar years
  • Maximum for Children under 19 - $300 per calendar year
  • Eye Exams - $75 every 2 calendar years

 

Dental Care Benefits for Employees & Dependents

  • Basic services - 80% of GP Fee Guide
  • Major restorative services - 50% of GP Fee Guide
  • Specialist fee guide used when applicable
  • Maximum for basic & major services combined - $2,500 per calendar year
  • Orthodontic services for children under 19 - 50%
  • Maximum for orthodontic services - $2,500 lifetime

 

Long Term Disability Insurance for Employees

  • Monthly benefit - 75% of monthly earnings if the employer paid (67% of the first $4,000 of monthly income plus 50% to balance), to a maximum benefit of $6,000 per month.
  • Benefits start after 120 days (17 weeks) of total continuous disability
  • Eligibility based on employee being in benefit and working 25 hours per week for a Merit member firm in the LTD program.

 

Employee and Family Assistance Program (EFAP) for employee & dependents

  • Confidential counseling and information service for employees and their families

 

Additional information can be found in the following document:

  • Merit Office Supervisory Benefit Plan - NL Summary (PDF)

For further information on any of the above benefit plans, please contact Janine Tobin at merit@merit-nl.ca or Paul Dubé at paul@merit-nl.ca.

 
 
446 Newfoundland Drive, Suite 213  St. John's, NL   A1A 4G7   
Office: 709 576 3748   Toll Free: 877 544 3748      Fax: 709 576 3749    Email: merit@merit-nl.ca
Copyright © 2011  Merit Contractors Association of Newfoundland and Labrador