2026 Responses to written FAC questions
The 2026 AGM took place on May 7, virtually and at the Rogers Centre in Ottawa.
The following are responses to written questions about the Finance and Audit Committee report that went unanswered during the event.
Further questions? Email us at info@oma.org.
OMA insurance programs and related restricted reserves are held to protect policyholders, our members, in the event of adverse claims experience or insurer insolvency, and to support the long-term sustainability of the insurance program.
We have also used reserves to enhance coverage, improve member experience through digital tools and maintain premium stability through subsidies for various programs, such as health and dental and disability coverages
The dividend refund is provided to members who purchase group insurance products: life, disability and professional overhead insurance coverages. The refund is calculated by OMAI’s actuarial consultant, reviewed by the Finance and Audit Committee and approved by the board. Insurance surplus can also be used to enhance coverage, improve member experience through digital tools and maintain premium stability through subsidies for various programs, such as health and dental and disability coverages.
Full CMPA membership fees for Ontario doctors vary by type of work, with current 2026 fees ranging from $1,200 to more than $54,924 annually. This amount varies each year. Ontario physicians are reimbursed for a significant portion (about 80 per cent) by the province through the Medical Liability Protection Reimbursement Program, so the fees individual members pay range from $300 to about $7,000 per year.
Deloitte became OMA’s auditor in 2019. In alignment with governance best practices, management went to the market with a request for proposal after seven years. We received five bids from top audit firms. Based on that review, the Finance and Audit Committee and the board recommended that the members appoint Deloitte LLP as OMA’s external auditor for 2026, reflecting audit quality, independence and value.
OMA team negotiates the hotel rates every year. The hotel rates are updated once a year, between November and December, for the following year. Throughout the year, there may be special promotions.
Dues are reviewed and approved by the Finance and Audit Committee and the board annually through structured governance and an annual budgeting process, with careful consideration of member impact and the resources required to deliver core services, operations and priorities, such as negotiation and implementation, physician engagement and advocacy.
We recognize the financial pressure many physicians are facing.
Dues are reviewed and approved by the FAC and the board annually through the budget process, with careful consideration of member impact and the resources required to deliver core services, operations and priorities such as negotiation and implementation, physician engagement and advocacy.
Our reserves are governed by board policy to ensure stability and sustainability of the mission, programs, ongoing operations and strategic priorities, while protecting member interests, managing risks and supporting future obligations. These reserves allow us to manage risks, maintain services for members, and have contingency to respond to unexpected changes in the health-care environment.