The financial effects of Covid are starting to show.
Every year the Dentists publish their Fee Guide. The Insurance Companies follow the Fee Guide for each province and this tells them how much they will reimburse your Dental Procedures.
The Dentists have doubled their increase this year. Sun Life has posted a Focus Update confirming the Fee Guides that are currently affected. Even though BC is not listed on this schedule, I have no doubt they will follow these numbers.
Here are the fee guides that have been issued to date:
- Québec: increase of 4.2% overall (compared to 2.6% in 2020)
- Ontario: increase of 4.6% overall (compared to 1.27% in 2020)
- Alberta: no change (compared to 4.4% in 2020)
As my clients know, this means that the cost for Dental work has increased and this will increase the amount of money required to fund your Dental Benefit in your Employee Benefit Plan.
If you would like to review your plan design and funding, please contact Pamela Glendinning at Glendinning Insurance Services, (250) 764-0142.
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