Get Started

Our 3 steps to understanding and selecting the right benefits for you


Watch the Video

Why Group Benefits?

2. Find the right approach

3. Get the Quote


Our most popular plans with premium coverage and stable rates






Franchise Program


Experience Programs


Benefits Management


Group RRSP


Individual Insurance for your and your family


Simplified Planner


Contact us


Our Story


FAQ and Forms

Experience Rated Benefits-Why?


Experience Rated Benefits- Advantage Employers

How is the experience rating of a party is calculated? By the loss incurred by another party on the same plan. The premium of a plan will be higher for risky policyholders than policyholders who made no claims. In short, experience rating is the loss to an insured faction on premiums due to previous claims.

Calculation Is Easier For Groups

Insurance companies consider some groups of policyholders to be vulnerable to make claims. They demand a higher premium from such risk groups. Insurance companies say it is easier to calculate the risk of groups over individual policyholders.

Workers’ Compensation

This group insurance policy coverage takes care of the following matters of injured workers:

  1. Lost wages to workers not able to work due to injuries
  2. Payment for medical care
  3. Physical rehabilitation of injured workers
  4. Compensation to dependents of workers who died in accidents or due to diseases

Workers’ Compensation Experience Modifiers

The loss experience for the last three years is used to typically calculate the modifier for compensation policy. Modifiers are employed to make adjustments to premium amounts.

Unchanged premium: If the modifier figure is 1, then the premium for coverage will remain the same as last year’s.

Increased premium: If the modifier is more than 1, that means your loss experience is inferior to the average experience of the particular class of industry. This will increase your premium for immediate renewal.

Reduced premium: A modifier that is less than 1 merits reduced premiums.

Workers’ Compensation Experience Rating Worksheet

A modifier is accompanied by an experience rating worksheet. It is the calculation used to arrive at that particular modifier. It gives detailed information on the below parameters:

  1. Class codes for each segment of employees
  2. Payrolls that were considered
  3. The number of claims.
  4. Losses applied in the worksheet.

Workers’ Compensation Impairment Rating

Workers receive an impairment rating when they attain a Maximum Medical Improvement (MMI) in the particular Workers’ Compensation case. This rating decrees the benefits they are eligible for in the future. At the reception of MMI means the worker no longer eligible to claim temporary income benefits.

Workplace Safety

Experience rating aids entities like the Workplace Safety and Insurance Board in implementing their preventive measures to ensure workers’ safety at their places of work.

Workers’ Compensation Rating Bureau

There are different rating bureaus, and they collect the below statistics to arrive at a certain conclusion explained in this section.

  1. Cost of premiums
  2. Losses
  3. Exposure units

This data is used to develop typical policy forms and to calculate advisory rating information. The information based on the reports is handed over to regulatory bodies that use the services of insurance companies.

Summarizing Experience Rated Benefits

  1. All employers who meet the government’s requirements for insurance coverage premium have to commit to experience rating
  2. The program analyses how an employer’s operations were different from another employer in a homogenous class.
  3. The system provides information on the cost of insurance coverage to the employer. The employer can use the information to get better modifier scores.

Get Your Free Quote To Use Experience Rated Benefits

Expert advisors at Clear Benefits are specialized in calculating clever premiums and identifying suitable plans to reap the advantages for an employer.

We just published a blog on the topic “Prove vs Affordability” Click here to read it.

Follow Us On Social Media!

Looking at Benefit Plans for your business?

Health and Dental Premium Relief Extended for June

Health and Dental Premium Relief Extended for June

The health and dental premium reduction we provided to plan sponsors for April and May gave relief in real-time. In implementing this, it reflected the anticipated decrease in plan member health and dental claims due to pandemic closure of service providers. We...
Support For Small Businesses

COVID 19: Support For Small Businesses In BC

Small Business BC Support For the latest information on small business supports, resources and advisory services during COVID-19, please visit Small Business BC. Advisors are ready to help by phone at 1-800-667-2272, email and daily digital meetups. See how COVID-19...
Prescription Drug Cost

Prescription Drug Costs Breakdown

Understanding the total cost of a prescription drug claims means learning the 3 main components: 1) Ingredient Cost Actual cost the pharmacy pays the drug company or wholesaler to buy the drug. 2) Pharmacy Markup Percentage charged to cover the expenses involved in...
Why we ask for detailed quote information

Why Ask For Detailed Quote Information?

Why we need detailed quote information from your current plan? Detailed Quote Information tells us a story, enabling us to create the right solution Getting involved in a Group Benefits program is different than purchasing a commodity. Most consumers are...
long term disability

Non Evidence Maximums for Long Term Disability plans is pleased to announce new Non-Evidence Maximums (NEM’s) for Long Term Disability in our Pooled Programs. The following enhanced LTD Non Evidence Maximum table applies to new business in both our Essentials and Lifestyle programs:                    ...

Medical Cannabis Coverage

Groups with over 100 lives can request to add medical cannabis coverage to their Extended Health coverage. Medical Cannabis Coverage In October of 2018, recreational marijuana will be legalized in Canada. The legalization of recreational marijuana has sparked a...

Experience-Rated Program: Finding Facts

Since the launch of our Experience-Rated Program, we get asked to provide both Pooled and Experience-Rated quotes. We believe the 1st priority is to understand the client need and what outcome they are trying to achieve. Fact-Finding - A Better way to do... Pooled Programs – YTD Performance

We just completed our monthly review and thought I would share an update on the YTD performance of the pool: Fiscal year-end: Nov 30 Renewal rate implementation: June 1 As of August 31, 2018 we are 9 months into our fiscal year Claims are below target for...