April 21, 2020 -
Equitable Life® announced today that it is offering premium relief for all its Traditional and myFlex insured non-refund customers for Health and Dental benefits.
With many health practitioners closing their offices due to the pandemic restrictions, plan member use of dental benefits and some health benefits has declined. So Equitable Life will apply a 50% reduction on Dental premiums and a 20% reduction on vision and extended healthcare rates (excluding prescription drugs), which equates to an 8% reduction on Health premiums.
These reductions are retroactive to April 1, 2020 and will appear as a credit against clients’ next available billing. Equitable Life will assess the situation monthly and expect to continue with monthly refunds for as long as the current crisis period continues.
In the meantime, plan members will continue to have full access to their benefits coverage throughout the pandemic. In many cases, dental offices remain open for emergency services, and a variety of healthcare providers are available virtually.
“We know this is a difficult time for Canadian employers and that many of our clients are facing financial hardship as a result of the COVID-19 pandemic,” said Dave Bennett, Senior Vice-President, Group at Equitable Life. “We continue to look for ways to help employers manage while still supporting their employees.”
About Equitable Life of Canada
Canadians have turned to Equitable Life since 1920 to protect what matters most. We work with independent advisors across Canada to offer individual insurance, savings and retirement and group benefits solutions to meet your needs.
But we’re not your typical financial services company. We have the knowledge, experience and ability to find solutions that work for you. We’re friendly, caring and interested in helping. And we’re owned by our participating policyholders, not shareholders. So we can focus on your interests and provide you with personalized service, security and wellbeing.
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Equitable Life of Canada