COVID-19 Relief Measures
All of us feel the impact of COVID-19. This is why your benefits provider, The Co-operators has put in place many temporary COVID-19 relief measures. Therefore, this will assist plan sponsors in navigating these unusual times.
During the months of April, May, and June we provided reductions on Health and Dental premiums. As a result, this will reflect lower claim volumes and help reduce plan sponsor expenditures.
As all provinces have now initiated phased approaches to re-opening their economies, we are seeing an increase in claims activity. This is good news! Plan members and their dependents are once again able to obtain the Health and Dental services they may have been desiring. The temporary premium relief program will be discontinued effective June 30th. Hence, billing statements/remittances will return to pre-COVID rates for July and beyond.
We are still in uncharted waters and will continue to monitor the impact COVID-19 is having on benefits plans. In alignment with our co-operative values, we continue to preserve the viability of your benefits plans. How? Through responsible, fair, and equitable pricing.
In addition to the premium relief, many other temporary measures were put in place during the height of the pandemic.
Our updated FAQ outlines which temporary measures will continue, and which have returned to business as usual.
If you have any questions, please contact your Co-operators Account Executive.