Healthcare products | Annual rate adjustment effective January 1, 2027
Every year, we analyze our results and changes in healthcare costs.
This approach allows us to continue offering quality products and services over the long term, while also meeting our clients’ needs.
Our goal remains the same: offer quality coverage at a fair price.
SOLO Healthcare at a glance
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Effective January 1, 2027
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Changes to coverage costs
- Basic coverages under Health plans: 0%
- Prescription drugs: +5%
- Dental care: +5%1
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These changes apply to:
- New sales
- Renewals
- Basic and Enhanced plans
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The Illustration tool will be adjusted to reflect the new rates.
- When you open a saved illustration, it will be recalculated automatically.
- Locked e-applications must be unlocked to add an updated illustration before you can submit them.
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The premium is calculated based on the attained age of the insured person. Consequently, when an in-force policy is renewed, the premium may increase by more than 5%.
1 The adjustment may be smaller depending on the policyowner’s province or territory of residence.
Additional information
The policy’s issue date is based on the date it’s approved, as follows:
| Application approved | Policy issue date |
|---|---|
| December 1 to 14 | December 1 |
| December 15 to 31 | December 15 |
The new rates will apply to policies approved on or after January 1, 2027.
If the rate adjustment means a new illustration or notice of modification is required, a notification will be sent using the Pending Business (PB) tool, in accordance with the usual process.
The rates have changed for all in-force healthcare coverages. For older product lines, rates may increase by as much as 10%, mostly for drug and dental coverages.
Keep in mind that the premium is based on the insured person’s attained age. This means that, at renewal, the premium payable could also go up based on age.
The new rates will apply when the policy is renewed in 2027. As usual, we’ll send a letter to the policyowner 60 days before the renewal date to let them know what their insurance premium is.
Questions?
Call our Client Relations Centre at 1-888-558-5525.