Green Shield Canada brings group benefits premiums down for SMEs

Green Shield Canada brings group benefits premiums down for SMEs | Insurance Business Canada

Green Shield Canada brings group benefits premiums down for SMEs

Green Shield Canada (GSC) has announced that it will be “taking key steps” to ease the financial strain experienced by small and medium-sized businesses in the wake of the COVID-19 pandemic – in the form of premium rate reductions.

The benefits provider is offering premium reductions for non-refund clients, which will apply to the months of April, May, and June. Specifically, GSC will implement a 75% reduction in dental rates, and a 20% reduction in health rates – which includes vision care, but excludes drug costs.

A release said that the reductions will appear on May billings and will be retroactive to April 01, 2020. Billings for the month of June will also reflect the reduced rates.

GSC said that it will continue to monitor the pandemic situation to assess its position for July and the following months.

“We hope these premium reductions provide some cost relief for our clients as they navigate the complexities of this pandemic. Rest assured that the GSC team is actively monitoring the latest developments and exploring what else we can do to help,” remarked GSC group executive vice-president Brent Allen.

Read more: Green Shield Canada contributes $500,000 to support pandemic-affected communities

Earlier this month, Green Shield Canada pledged $500,000 to aid communities which have been affected by the coronavirus. The cash donation was split across various relief efforts related to ensuring food security, while another portion went into sponsoring a digital mental health support initiative.