What is Incurred But Not Reported (IBNR)?
There can be a significant delay in the reporting of claims, particularly for the higher volume benefits such as Dental and EHB. This can range from a few days to several months. This creates an issue, as a group’s renewal rates are based on their claims...
What is an Employee Assistance Program (EAP)?
An Employee Assistance Program (EAP) is an optional service offered as part of an employee benefits package that provides 24/7 assistance to employees on a wide variety of topics. EAP is often considered as a complimentary service to a benefit such as Long Term...
What is Out of Country coverage?
Out of Country coverage (sometimes referred to as OoC, Out of Province or OoP) is a benefit that provides protection for employees that travel outside of their home province or outside of Canada. Depending on the insurance carriers plan design options, OoC will either...
What is Paramedical coverage?
Paramedical coverage, often referred to as simply Parameds is a subcomponent of the Extended Health Benefit (EHB). Parameds are an important part of the EHB benefit and typically account for 25-30% of EHB claims in an average group plan (second only to drugs). While...Deprecated: Function get_magic_quotes_gpc() is deprecated in /hermes/bosnacweb08/bosnacweb08ag/b1302/nf.pillowponcho/public_html/wp-includes/formatting.php on line 4387
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