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
PHI Standard with Dental

All

+5%
Series 6-8

PHI Standard
PHI Standard with Dental
PHI Enhanced
PHI Enhanced with Dental

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.