Premium Deductions For Dental and Extended Health Care Due to COVID-19
Dear Plan Administrators,
Due to the COVID-19 pandemic, many dental and health practitioners have been forced to close. Therefore, the use of dental and some other extended health care benefits have declined.
Canada`s two major insurance companies, Sun Life and Canada Life have recently announced premium deduction for dental and non-drug-related extended health care benefits for their group insurance clients.
Sun Life Financial
Here are the changes Sun Life is making for all non-refund clients:
- Dental: 50% dental premium credit per month.
- Extended Health Care: 20% premium credit on the non-drug coverage portion of extended health care benefit premium
Sun Life Financial is going to apply the April credit to your June 1 invoice and will continue to assess the situation on a monthly basis.
For more information, please go to Sunlife.ca
Canada Life Financial
- Dental: 50% premium reduction adjustment will be applied.
- Vision: 20% premium reduction adjustment will be applied.
- Healthcare (excluding drugs): 20% premium reduction adjustment will be applied.
Canada Life Financial is going to apply the premium credit retroactive to April 1, 2020. May premium reduction adjustments will be completed on the June billing.
For more information, please go to Canadalife.com
For any questions and more information, please contact our Group Benefits Account Manager Mina Dingle. She will be more than happy to assist you.