CGIB PARTNERS WITH BBD ON CHIP PROGRAM
CGIB PARTNERS WITH BBD
The Canadian Group Insurance Brokers (CGIB) has partnered with Benefits by Design (BBD) Inc., a People Corporation Company, to create a group benefits plan that solves the lack of group insurance solutions employers have faced for years. The ‘CGIB Catastrophic Hybrid Insurance Plan’ helps employers resolve the issue of rate volatility especially when high-cost drug claims are involved. Transparency comes through sharing the pool’s premiums and claims paid with advisors and their clients. Dave Patriarche, founder of CGIB, says, “Employers don’t have a problem with high-cost drugs. They have a problem with the lack of insurance solutions to maintain coverage and reduce rate volatility. This solution is aimed at minimizing the cost increases to their plan when they encounter that big claim.” The plan features catastrophic coverage, combined with a healthcare spending account to offer flexibility, while providing protection to plan members.