Pacific Blue Cross (PBC), a benefits provider in British Columbia, is responding to the financial stress caused by the COVID-19 pandemic by offering premium reductions to its clients.
In a release, the company explained that it is offering premium relief as its way of supporting small- to medium-sized businesses. PBC also noted that, in BC, over 90% of companies have under 50 employees.
PBC will apply rate changes to its group policies for the months of April and May, which are retroactive to April 01, 2020. The company will provide 50% rate credit against dental premiums paid, and 20% credit against non-drug related extended health care premiums paid.
The company added that the rate changes and credits for both April and May will show on the June invoice.
“We have always supported small to medium sized business that choose Pacific Blue Cross to improve the health and wellbeing of their employees. By reducing premiums, we can do our part to support these businesses that are the backbone of our communities,” said PBC president and CEO John Crawford.
PBC stated that it will continue to monitor benefit utilization and access to health care providers as the pandemic situation evolves. The company will also review this premium reduction measure on a monthly basis.
