The Health and Dental Plan is now in stable condition.
A new five-year deal with Canada Life will continue the plan with no increase in fees. The only change is the increase in prescription drug coverage from 70 per cent to 80 per cent.
"I have the utmost faith in students," said Students' Union Vice-President Operations and Finance Gavin Preston. "The rejection [of the referendum question] was smart."
In the 2003 SU General Election, a referendum requesting an additional $7.50 for insurance coverage was defeated leaving some to believe the plan would end.
Students will continue to pay $51.50 per semester for coverage.