Since the claims experience for small businesses can vary significantly for each group from year to year, the Blue Chip product offers a solution which allows clients the ability to pool their risk together. So, at renewal, the combined claims experience for all participating groups will determine the renewal adjustment for the pool overall. Extended Health Care (EHC) and Dental renewal rates are determined by the pool’s claims experience, the policy’s plan design and our “trend factor” (a percentage representing the expected general increases to claims from increased cost of products and services, and increased utilization). Each group’s EHC and Dental renewal rates will be determined by combining both the pool’s overall experience and their own policy’s recent claims experience to ensure that all groups are priced appropriately with rate stability for all groups as the primary focus. The rates for all other benefits are set based on Canadian mortality or morbidity tables as well as the claims experience of our own book of business which is then adjusted for each policy’s specific employee demographic factors such as age and gender.
Blue Chip offers big benefits for your small business clients
Our Blue Chip pool is made up of both emerging and established small businesses across BC. Participating in the Blue Chip pool allows your clients to share their risk with other participating groups, which increases the stability of the benefits plan for all groups in the pool.
Getting your clients’ a sustainable benefits plan that they’ll love starts with Blue Chip from Pacific Blue Cross.
Flexible and competitive plan designs
Design a plan with competitive rates that suits the needs of your clients while helping them attract and retain staff.
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Quick quotes
One of Blue Chips core strengths is its automation. It allows for an easier quoting process (as little as 24 hours) including the ability for self-service quote delivery.
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Easy onboarding
With a new digitized onboarding process, our Blue Chip plans can support groups being set up in under 10 business days.
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Rate stability
Our Blue Chip pool, as a whole, has delivered single-digit rate adjustments over the past 7 years. This type of consistency demonstrates our commitment to ensuring that your clients can budget their benefit costs effectively and enjoy rate sustainability.
How renewals are calculated
Value Add coverage
Virtual health, New Parent Boost benefit, Online CBT, and our Business Support program are included without any additional cost on all our plans.
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How renewals are calculated
Eligibility
- Clients 3 to 30 lives
- Must have been in business for 12 months or more
- Employees must work a minimum of 20 hours/week to be eligible for coverage