Understanding Your Travel Insurance

Posted on: August 12th, 2020

While many of us have enjoyed staycations this summer or ventured only to our neighboring provinces – airlines are now promoting sunny destinations and providing increased flight schedules with flexible cancellation policies. While this can be tempting given the travel restrictions in recent months and increased clarity on Covid-19 numbers and protocols, it is important to understand your travel coverage before booking travel.

Travel Insurance can be available through your employee benefit plan, by purchasing additional personal travel coverage and is offered through many personal credit cards. However, many insurers have made restrictions to their travel coverage considering the Covid-19 pandemic. Read below for some Travel Insurance information before booking your next trip!

  • Travel Insurance can be divided up into two major categories. Trip Insurance: commonly referred to as trip cancellation insurance, and Travel Medical Insurance, which provides coverage for medical emergencies. These types of plans may offer different levels of coverage, or no coverage at all for COVID-19, depending on a number of factors – including when you purchased the plan.
  • Group Benefit Plans have a built in Out of Country Emergency Medical benefit – check your booklet as you may not need to purchase this type of insurance. It is also good for traveling with in Canada in case you get sick in another province. Usually this does not include trip cancelation or baggage loss.
  • Are you a Canadian resident? Most provincial or territorial health insurance plans only cover expenses within your home province or territory. With travel insurance, you are protected wherever you go.
  • Due to the recent restrictions placed on travel you should always check with your provider before traveling to make sure you have coverage. Different Insurers may not cover out of Canada travel – this is an important consideration if you contract Covid-19 at your destination.
  • Each destination has different activities and risks. Travel Insurance helps protect against the unexpected. A primary incentive to get travel insurance can be for the emergency medical assistance. Without these benefits, you can easily spend over $10,000 out-of-pocket for treatment and transportation expenses.
  • When you are experiencing a medical crisis during your trip, such as trauma, broken bones, heart attack, and strokes; when you have travel insurance, you can call for help in an emergency. Your insurer will be able to arrange payment in advance for covered emergency medical care.

Reach out if you want more information on your providers Travel Insurance coverage.

Group Benefit Plans

Posted on: May 25th, 2020

Group Benefit Plans have come a long way, pushed forward by employees and employee benefits consultants. In other words, computer power has not exactly been stuck in time.  Increasingly, both employers and employees are seeking flexibility and personalization within their plans.

So, what’s new?  Flex plans were designed to allow individuals or families to decide how they want to allocate their allotted money. Employees can customize benefits to maximize their dollars spent, and employers can have clarity on set costs. The exciting recent development is the ability to offer these plans to companies with as few as three employees; there is no longer the need for 300-400 employees to justify these plans.

Health Care Spending accounts add flexibility to plans, but also commonly reduce the fees charged by insurers and your advisor by 30%-40%. 
Claims themselves are now much easier for employees to submit and receive compensation. We are now able to send in claims via a photo from your phone – no more paperwork and no need to keep receipts for the end of the year!

Disability programs used to require total disability for 120 consecutive days in order to be eligible for a claim, although that still all too common, they do not need to be that way.  Now you can purchase products that recognize total and partial disabilities from day one to age 65. This is to better align with our changing workplaces and abilities of modern medicine.

There are now Health Care plans that take you out of line ups and give access to literally any hospital or clinic on the planet for any medically necessary procedure.  No waiting, and the cost is looked after by your coverage instead of savings when you are dealing with health concerns.

If you think your plan is getting old, reach out to your group benefits advisor about getting your plan up to date and maximizing the value in your plan for you and your employees. The possibilities are endless.

United Way Community Impact Awards

Posted on: April 3rd, 2020
Sagium - United Way

With all the tough news coming out, we want to share a moment of positivity with our clients and networks. Sagium has been chosen as the winner of the Workplace Excellence Award at the United Way Community Impact Awards. This award celebrates noteworthy campaigns that demonstrated industry excellence by exhibiting strong management support, a significant increase in both Leadership giving and total donations, a surge in employee involvement and/or has taken a fresh and innovative approach to their United Way campaign.

Sagium has been involved in workplace campaigns with the United Way for many years now as supporting our community has always been a core value, and helping the United Way to help other Calgarians has been a great way to make an impact. We are honoured to be selected as an award winner, and excited to continue the work in our community.

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