Canadian insurance companies are striving to provide small businesses some flexibility in continuing benefits coverage to their employees
Similar to many financial institutions, Canadian insurance companies recognize that we are living through the greatest social, economic and health challenge in generations and good employee health has never been more critical.
Most benefit carriers are relaxing the rules somewhat on corporate benefit premium payments and plan renewals. And most recently have introduced a 50% reduction in dental premiums for April and May as well as a 10% to 20% reduction in health premiums for the same months.
Those companies who can should continue to remit premiums as normal. For those who can’t, most carriers are extending the normal 31 day remittance period to 60 days with a willingness to discuss hardship cases.
The new CERB (Canada Emergency Response Benefit) announced by the Canadian Government on March 25th makes it important for employers to check with their legal counsel to determine if their employees are entitled to a declared emergency leave. Coverage cannot be terminated or suspended for statutory leaves.
