Home > Group Benefits > Plan Administrator Resources > Reference Guide > Billing

Billing

Billing Statements are available each month in PDF or Excel format using Online Administration. When your billing is posted to the site, you will receive an email notification with this subject line: “Your bill has been posted to the site”. All premiums must be paid by the due date in accordance with your group policy to ensure continuing coverage and uninterrupted claims service. Non-payment of premiums will result in policies lapsing, and reinstatement will be subject to RBC Insurance reinstatement rules.

Self-administration

Prior to enrolling an employee, confirm their eligibility. Refer to this table for enrolling new employees in a GSI class.

The Self Admin Invoice statement will assist you in calculating the premium due for your group insurance plan. This statement must be completed each billing period and coincide with your payment remittance. Refer to the “How to” section “Remit Self Admin Invoice” for detailed instructions.

Payroll deductions

If the employee is required to contribute towards the cost of the coverage, payroll deductions should begin as of the first of the month following or coinciding with the Effective Date of insurance. Each month’s billing will provide you with details identifying the employee’s benefits and cost breakdown for payroll and tax calculations.

Premium due dates for employee changes

• Premiums for employee changes are not pro-rated to the day.

• Below you will find examples outlining when premium is payable for a newly added or terminated employee based on their eligibility date.

Adding an eligible employee:

• Once an employee is eligible, they may be added to the plan. Coverage is in force on the date they become eligible.

• Premium for the newly added employee is payable on the next monthly premium due date.

Adding Eligible Employee Example:

Terminating an eligible employee

• Coverage is terminated effective on the employee’s last day of active employment at 11:59pm

• While coverage ends on the last day of active employment at 11:59pm, premiums remain payable up to the next monthly premium due date

Terminating an eligible employee example:

Explanation of your billing statement

Your billing statement is comprised of 4 parts. To help you understand your billing statement, select the section you require assistance with:

1: Billing Summary and remittance advices: This page summarizes what you owe, clearly showing balance forward, payments received, new charges and total premium. It includes a summarized accounting and tear off remittance statement.

2: Billing Details: This page explains the breakdown and total monthly billing including premium charges, payments and adjustments entered since your last billing was produced. This section details the premium charges by benefit.

3: Change Detail Report: This section shows a consolidated summary of group level changes and a summary of Plan Member changes in one convenient spot.

4: Plan Member Premium Report: This section lists all plan members included in the billing month.

Billing statement format options

RBC Insurance billing system has a standard statement template, but allows the ability to choose additional details to be displayed. If you would like to change any of the defaults please email admin@groupinsurance.rbc.com or call the RBC Insurance Customer Service at 1-855-264-2174 and choose the prompt for billing. We will gladly help you set up one of these options.

• Plan Member Display: The default is for Plan Members to appear on your statement in alphabetical order with the following standard fields: Name, Certificate Number, Products, Province of Employment, Plan Member Class, # of Family, Age, Coverage, Premium, Premium Adjustment, Tax and Total Premium. If applicable, GSI Policy Number is included. You have the option to have the following fields displayed or removed upon request: Age can be removed, Alternate ID or Cost Centre can be added.

• Statement Delivery Options: Our standard delivery option is for online statements via RBC Insurance Online Administration.

Payment options

At RBC Insurance we have four payment methods available:

• Pre-Authorized Payment: Use pre-authorized payment debiting on the 8th of each month. Complete the Group Benefit Solutions Pre-Authorized Debit Arrangement and email to admin@groupinsurance.rbc.com.

• Electronic Funds Transfer (EFT) or Wire Transfer: Please ensure to provide the applicable policy number for which the payment is being made when requesting the wire transfer. Please note that all wire payments must be made payable to RBC Life Insurance Company and must be made IN CANADIAN FUNDS. You will need to ensure that your bank also has the appropriate Bank Number, Transit and Account Number, when transferring premium to the RBC Royal Bank. All Wire Transfers must now be made payable to: RBC Life Insurance Company. Initiate the wire transfer by contacting your bank with all of our bank information.

BANK: Royal Bank of Canada, Main Branch – Toronto, 200 Bay Street, Main Floor, Toronto, ON M5J 2J5

• ACCOUNT: 1164516

• TRANSIT: 00002

• BANK: 003

• no SWIFT CODE required

Email the following information to advise us when you have transferred a payment to admin@groupinsurance.rbc.com:

• Date & Amount of Wire Transfer

• Wire Transfer details such as amount being paid per division

• Policyholder Name & Policy Number

• Online Banking: RBC Insurance is set up as a payee with the following financial institutions:

  • Royal Bank

  • TD/Canada Trust

  • Scotiabank

  • Bank of Montreal

  • CIBC

  • National Bank

  • Hong Kong Bank (HSBC)

  • Alberta Treasury Branches (ATB)

To make a payment via online banking you will need to choose RBC Life Insurance Company – Group as the payee and enter the policy number & division number of your account number. This is critical to ensure money is applied in a timely manner.

Claim-based billing statements

This is available for group benefit plans set up for Administrative Services Only (ASO) funding arrangements. With this funding arrangement RBC Insurance will issue a monthly billing. The monthly billings will reflect the actual claims experience processed during a given month, plus administration fees, other charges and applicable taxes. The monthly billings contain the balance as at the end of the prior month, payments received and current charges. Other information, such as detailed calculations, claims by province, contact information and the GST/HST amount contained within the claims amount is disclosed on the billing as well. As these invoices are issued after the fact, i.e. after claims have been processed, the expectation is that the statement amount will be paid upon receipt of the statement. If you have questions about your statement, contact your RBC Insurance Customer Service team at 1-855-264-2174.