SOLO Healthcare| Premium increases effective January 1, 2023

Product Development and Pricing October 31, 2022

Our SOLO Healthcare product lineup is particularly popular with clients who don't have access to a group insurance plan, such as self-employed and seasonal workers, consultants, and casual and part-time employees.

It's the perfect way to:

  • Pay for healthcare expenses not covered by group insurance
  • Complement government health insurance plans
  • Get affordable access to care come what may

High inflation is driving up the costs of prescription drugs and care. As a result, we've had to increase our rates for both new and in-force contracts. On January 1, 2023, we'll increase rates for the types of coverage listed below for all new SOLO Healthcare contracts, for both the Basic and Enhanced plans.

As of January 1, 2023, the following increases will apply to new contracts:

Prescription drugs3%
Dental care5%

The Illustration tool will be updated to reflect the new rates.

Tip: Remember to tell your clients about the multi-coverage discount: They could save 5%!

SOLO Healthcare is the perfect complement to government health insurance plans!

Issue dates for contracts approved in December 2022

SOLO Healthcare contracts can only be issued on the 1st or 15th of the month, depending on the day the insurance application is approved. Here are the issue dates for contracts approved in December 2022:

Application approvedIssue date
December 1–14December 1
December 15–31December 15

The new rates will apply to contracts approved after December 31, 2022.

Premium increases for in-force healthcare contracts

As of January 1, 2023, depending on the type of coverage, increases ranging from 3% to 10% will apply to in-force contracts for all our healthcare products.

As usual, your clients will receive written notice of the increase 60 days before their contract renewal date.


Product Development and Pricing