Two simple tips to avoid plan disruptions

Two simple tips to avoid plan disruptions

Keep these tips in mind to avoid unnecessary plan disruptions and ensure your plan members always get the most out of their plan.

Tip 1: Keep plan member salary information up to date

Certain benefits and their respective premiums, such as disability benefits and basic life coverage, are often calculated based on the plan member’s salary. If the salary information isn’t up to date, a plan member may not receive the benefit they expect. Plan members or sponsors may also have to pay an unexpected premium adjustment for the length of time the salary information was incorrect.

Many employers implement salary adjustments in the new year. When you implement them, take some time to update your benefit plans and make sure occupation titles are listed correctly. This gives us a snapshot of your group membership, so we can more accurately evaluate your coverage.

Tip 2: Consider automatic premium payments

Premiums are due the first of the month. We must receive them within the premium grace period outlined in Provision 3 of your policy. Typically, this is 31 days.

Late premiums can mean claims payments for plan members may be stopped or delayed. To avoid disruption, you can enjoy the convenience of having your premium payments withdrawn automatically the first day of each month through Pre-Authorized Debit (PAD). Alternatively, you can transfer premium payments to us from your financial institution through an electronic funds transfer (EFT).

Contact our Group Client Service Centre for assistance with either of these options.

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Our Information Update emails keep you informed about important legislative changes and industry trends, as well as other news from The Co-operators.

You can find previous versions posted on the Benefits Now® for Plan Sponsors portal.