RBC has some great news regarding premium credits for dental and extended healthcare benefits. From RBC:

“With the impacts of COVID-19 evolving, we continue to review clients’ needs and adjust our approach. As a result of physical distancing measures and business closures, visits to the dentist, chiropractor, physiotherapist and other healthcare professionals have declined. To reflect this, we will apply premium credits for dental and extended health care benefits.

Premium credits

  • 50% of your clients’ dental premium for both April and May premium will automatically be credited to their June bill

  • 10% of your client’s overall health premium for both April and May premium will automatically be credited to their June bill.

There is no action you or your clients need to take.

As public health measures regarding physical distancing change, we will re-assess this approach monthly and adjust as needed.

What you need to know

  • Premium credits apply to fully insured non-refund accounted plans

  • This is a premium credit adjustment, not a premium rate change under the group policy. As such, future premiums and claims reports will continue to show dental and extended health care premiums on an unadjusted basis, making loss ratios for these benefits appear more favorable than the actual experience.

We’re in this together

We understand the financial strain that many businesses across Canada are experiencing at this time. These premium credits do not impact the plan design: health and dental coverage remain the same for all plan members. We trust this approach will help your clients maintain their insurance protection for their plan members.”