PHI and HCC premium rate change
PHI and HCC premium rate change as of January 1, 2021
Increase to Personal Health Insurance (PHI) and Health Coverage Choice (HCC) rates.
Every year, we review rates. This year we’ve decided to postpone rate changes to January 1, 2021. Due to claims experience impacting all series, provinces and age bands, effective January 1, 2021 we are increasing PHI and HCC rates for new business and all inforce policies. This is the first time we’ve increased PHI rates since 2014.
| Series | Product | Age | Rate Increase |
|
Series 1 & 2
|
All PHI plans |
All |
+5% |
|
Series 3-5
|
PHI Standard |
All |
+5% |
|
Series 6-8
|
PHI Standard |
All |
+5% |
|
All PHI plans not included above
|
0-79 | +1% | |
Changes to HCC rates
| Series | Product | Age | Rate increase |
| Series 6 | HCC A with Dental | 65+ | +6% |
| Series 6 | MHC Standard/HCC B without Dental | All | +10% |
| Series 6 | HCC C without Dental | 65+ | +10% |
| Series 6 | MHC Enhanced/HCC C with Dental | 65+ | +2% |
| Series 7-8 | HCC A with Dental | 65+ | +6% |
| Series 7-8 | MHC Standard/HCC B without Dental | All | +10% |
| Series 7-8 | MHC Standard/HCC B with Dental | 0-64 | +2% |
| Series 7-8 | MHC Standard/HCC B with Dental | 65+ | +6% |
| Series 7-8 | MHC Standard/HCC C with Dental | 65+ | +2% |
| Series 7-8 | HCC C without Dental | 65+ | +10% |
Within a product and series, changes will apply consistently to all clients within an age group and province.
Existing clients will see their new premium on renewal notices we send starting October 1, 2020. The increase will take effect on policy anniversaries on or after January 1, 2021.
PHI and HCC remain competitive solutions and continue to provide excellent coverage for Clients.