604.921.4042 info@eaglefinancial.ca
Premium Deduction For Dental and Extended Health Care Due to COVID-19

Premium Deduction For Dental and Extended Health Care Due to COVID-19

Dear Plan Administrators,

Due to COVID-19 pandemic, many dental and health practitioners have been forced to close. As a result, the use of dental and some other extended health care benefits have declined.

Canada`s three major insurance companies, Sun Life, Canada Life and CINUP have recently announced premium deduction for dental and non-drug-related extended health care benefits for their group insurance clients.

Sun Life Financial

Here are the changes Sun Life is making for all non-refund clients:

  • Dental: 50% dental premium credit per month.
  • Extended Health Care: 20% premium credit on the non-drug coverage portion of extended health care benefit premium

Sun Life is going to apply the April credit to your June 1 invoice and will continue to assess the situation on a monthly basis. For more information, please visit SunLife.ca

 

Canada Life

  • Dental: 50% premium reduction adjustment will be applied.
  • Vision: 20% premium reduction adjustment will be applied.
  • Healthcare (excluding drugs): A 20% premium reduction adjustment will be applied.

Canada Life is going to apply the premium credit retroactive to April 1, 2020. May premium reduction adjustments will be completed on the June billing.

For more information, please visit Canadalife.com

CINUP

CINUP recognizes the impacts of the pandemic and the ability for plan members to utilize their dental and extended health benefits.

CINUP is providing the following credits, retroactive to April 1st, on May 2020 billing:

  • Dental: 50% premium reduction adjustment
  • Extended Health: 10% premium reduction adjustment

Your June bill will show the credits applied for April, as well as the full premium for June. The credits will be monitored monthly and you will be notified of any changes.

 

For any questions and more information, please contact our group benefits managers, Mina Dingle or Denise Perry. They will be more than happy to assist you.

Mina Dingle

Account Manager

Group Benefits

Denise Perry

Account Manager

Group Benefits

Update on Operations at Eagle Bay Financial Services Ltd.

Update on Operations at Eagle Bay Financial Services Ltd.

EagleBay_Virtual_Staff_Meeting_Covid19

Earlier next week, we will surpass 1 month of altered operations and work from home.
We are pleased to report that all our clients remain in business and are continuing to operate, albeit in unusual circumstances.

 

We were quickly able to shift our service model and continue to interact and support our clients via email, telephone, Zoom conferencing and other media. Our switchboard is operating normally. You can also reach your support team directly on their mobile devices or by email. We are striving to prioritize and respond to your queries as quickly as possible. We continue to keep a close eye on financial markets and the operational changes that insurers are experiencing.

 

This week we have also welcomed the newest member of our team and we thank you all for your kind words of welcome to Kate Madden. We are so pleased to have her join our team.

 

We know that you provide vital services to your organization and to your community and we recognize that you all are experiencing unique challenges in navigating the pandemic.

 

Thank you for your continued support during COVID-19 & please “Stay Safe”.

 

Best Regards

Nick & Ida Calla and Eagle Bay Financial Services Ltd.Team

Eagle Bay Financial Services & CINUP Now Offers Teladoc, Virtual Health Services To Clients

Eagle Bay Financial Services & CINUP Now Offers Teladoc, Virtual Health Services To Clients

Especially with the COVID-19 pandemic, telemedicine services became the most convenient and easy access to quality healthcare when and where members need it most.

As Eagle Bay Financial Services Ltd., we are excited to announce CINUP’s, one of Canada`s leading insurance companies, partnership with Teladoc™ Health.

Effective immediately, Teladoc telemedicine services will be included for all employees who hold CINUP Extended Health Care coverage. Members can visit with a Canadian certified physician by phone or video for a broad array of episodic healthcare issues. During the visit, employees can receive a diagnosis, treatment recommendation, and even be prescribed medicine when necessary. With Telemedicine Services, members can stop waiting for care and get back to feeling better, faster.

 

Teladoc : Offering a New Front Door To Healthcare In Canada

Teladoc is the global leader in virtual care, providing convenient access to high-quality healthcare for millions of people in more than 130 countries. With Teladoc, your employees can talk with a doctor within an hour by phone or video conference from wherever they are, in Canada or the US, for non-emergency conditions like the flu, allergies, infections, and much more. Doctors can also prescribe medicine if needed.

  • Is your First Nations community located in a remote area?
  • Up in the middle of the night with a sick child?
  • Or perhaps living or vacationing in a rural location, making it difficult to obtain medical care?
  • Self-isolating and can’t get in to see a doctor?
Teladoc is available 24 hours a day, 365 days a year. Because visits are conducted by phone or video, there are no geographic restrictions to getting to high-quality care from anywhere. Employees simply can download the Teladoc app from Apple or Google Play, complete the quick registration, and request a consultation.

“ Effective immediately, Teladoc telemedicine services will be included for all employees who hold CINUP Extended Health Care coverage. ”

How To Set Up Teladoc Account On Your Smartphone: 4 Easy Steps

Here is how your employees can set up Teladoc services and access licenced physicians easily, within an hour by phone or video.;

  • Download the app:
  • Search for “Teladoc” in the App Store or on Google Play.

  • Set up your account:
  • Once you’ve downloaded the app, select “Set up your account.”

  • Enter necessary contact information:
  • Type in your name, date of birth, and postal code

  • Type in your security information:
  • Select your coverage, create a password, type in your phone number, and agree to the terms and conditions.

    For more information, you can also call 1-888-983-5236 or visit Teladoc.ca

Employees demand better benefits from their employers, and due to COVID-19, virtual health services became a vital part of health care delivery. Teladoc is designed to help you, your employees and their dependents to receive the medical treatment they need. It is a perfect solution, specifically with the distinct needs of an employer like you in mind. We know your employees are your most valuable asset, so we continually look for more ways to protect them. Teladoc will ensure the best medical support is always at their fingertips.

For more information on how to add Teladoc to your CINUP employee benefits program, you can reach our Managers Mina Dingle or Denise Perry.

Jenny Kellett

Account Manager

Group Benefits

Denise Perry

Account Manager

Group Benefits

Your Group Benefits Plan and The Coronavirus: Answers to Your Top Questions

Your Group Benefits Plan and The Coronavirus: Answers to Your Top Questions

COVID19 Group Benefits Plan: Answers to Your Top Questions Eagle Bay Financial

Dear Plan Members,

If you have group benefits that include travel and/or disability insurance, you may have questions or concerns regarding the Coronavirus outbreak.  If you have any queries, we encourage you to connect with your insurer directly.

The contact information for your insurer is often provided on your benefits card.

Service Canada is ready to support Canadians affected by COVID-19 and placed in quarantine, with the following support actions:

  • The one-week waiting period for EI sickness benefits will be waived for new claimants who are quarantined so they can be paid for the first week of their claim.
  • A new dedicated toll-free phone number is established to support enquiries related to waiving the EI sickness benefits waiting period.
  • Employment Insurance(EI) application for claims for clients under quarantine is prioritized.

“The contact information for your insurer is often provided on your benefits card. ”

If you are in quarantine and seeking to waive the one-week Employment Insurance sickness benefits waiting period, please contact the new dedicated toll-free phone number so you can be paid for the first week of your claim:

Telephone: 1-833-381-2725 (toll-free)

For the most up-to-date information on the outbreak, please visit the government websites below;

Public Health Agency of Canada

Employment Information – Government of Canada

COVID19 information – Government of Canada

COVID19 information – First Nations Health Authority

Pharmacare Information

Eagle Bay Financial Services Ltd. is here to help!

Please contact our office if you have questions regarding your group benefits.

Jenny Kellett

Account Manager

Group Benefits

Denise Perry

Account Manager

Group Benefits

Danijela Fadera

Claims Advocate & Client Service Representative

Keeping Calm In The Face Of Uncertainty & Navigating Difficult Markets

Keeping Calm In The Face Of Uncertainty & Navigating Difficult Markets

Dear Plan Members,

The events of recent weeks and days are unsettling, to say the least. As the COVID19 outbreak makes its way around the world, economies are being affected, and investment markets are responding.

As a member of a group retirement/pension plan program with Eagle Bay Financial Services Ltd. , we would like to take this opportunity to reach out and provide you with some perspective on what has been happening. We encourage you to maintain calm & not abandon traditional investment philosophy.

Here are some important considerations:
  • Before COVID19, the Canadian investment marketplace (based on the TSX) was at an all-time high.
  • Governments across the globe are responding with monetary policy changes & are making efforts to contain the economic damage created by COVID19.
  • Canada is likely headed towards a recession due to the fast and significant decline in oil prices and commodity markets in response to supply/demand caused by the coronavirus.
  • The Bank of Canada has already cut interest rates to ease the pain.
  • We will likely see more uncertainty and volatility as the coming days and weeks unfold.
  • Down markets always have & will always provide an opportunity for investors to “buy low.”

“ We encourage you to maintain calm & not abandon traditional investment philosophy. ”

Whenever working with retirement savings, we encourage plan members to focus on long term objectives despite what may be happening in the short-term. We typically also recommend that individual investors consider investment decisions based on age & trajectory to retirement. As we approach retirement, risk exposure in equity markets should most often be reduced. Many plans take time horizon into consideration naturally using Target Date Funds.

If you’re unsure how your funds are invested or how they may be affected by the events of recent days and weeks, you can access your plan information online. You can also contact your Servicing Advisor for an overview of your investment allocation.

Amanda Calla

Manager

Group Retirement

Licenced Financial Advisor

Tiziana Cagnoni

Account Manager

Group Retirement

Licenced Financial Advisor

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