What is a PAC and How to Change the Amount?

A PAC stands for Pre-Authorized Cheque. This is the fixed amount that will be pulled from your business account on the first business day of the month. As the Benefit Coordinator, you can adjust this amount at any time to meet the group's claiming needs.

The purpose of the PAC is to have funding available for claims at all times so there is no delay in processing the claims.

To adjust the amount of the PAC follow the below steps:

  1. Log into your MyOlympia account
  2. Click on Company
  3. Click on Company Funding
  4. Enter the New Funding Amount  - Note the minimum is $100.00
  5. Click on Update Company Funding Option
This new amount will be pulled on the first business day of the following month.