Compare Health Insurance Quotes in Canada

If you’re living without health insurance coverage, you are risking more than your health. You might also put your family’s financial well-being at significant risk. Similar to changing your car tyre, health insurance is a topic everyone assumes to understand.

But do you understand health insurance at the most basic level? How it works, what it covers, and how to get a plan if you’re not already enrolled through an employer program? Let’s take you through the basics of health insurance and your coverage options.

Get the Best Health Insurance Rates in Canada

There are various ways to get the best health insurance quotes from the comfort of your home, even if you’re not eligible for your employer-sponsored plan. Start by comparing top providers in the nation for fee-free quotes. Looking at multiple quotes will help you narrow your options to the most affordable rates. You can then proceed to inquire about enrollment.

Types of Health Insurance in Canada

Individual Health Insurance

Also known as personal or family insurance, this insurance cover supplements what your provincial health coverage doesn’t. It may or may not extend to dental care, as well. This type of insurance is ideal for single people, couples and families. Personal health insurance is particularly useful for specialized doctor coverage and prescription medicine calls.

Group Health Insurance

Group health insurance is also known as employer-sponsored coverage. A company buys the coverage and then refers to its employees, usually at discounted rates, compared to what you would pay individually. Although the type of coverage depends on the insurance provider, group health insurance typically extends health benefits, dental benefits, long-term disability and sometimes life insurance.

Disability Insurance

Disability insurance pays you a monthly income if you’re no longer able to work because of a disability, whether temporary or permanent. Disability insurance might be included in your employee benefits package or bought as a stand-alone plan.

Critical Illness Insurance

Critical illness insurance provides financial benefits if you’re diagnosed with a critical illness. You’re eligible for a single lump sum benefit, irrespective of whether you can work or not. Note, you must survive a critical condition for 30 days before getting the benefits.

Travel Medical Insurance

Travel medical insurance pays for medical expenses that come up on your trip outside of Canada.

Benefits of Health Insurance

Coverage Against Medical Expenses

Health Insurance lets you get the best medical care without straining your finances. A health insurance plan will protect against high medical costs, cover hospitalization expenses, daycare procedures, ambulance charges, etc. You’ll focus on a quick recovery rather than the high medical costs.

Coverage Against Critical Illnesses

Insurance carriers now provide critical illness insurance as a rider or stand-alone policy. With this policy, you are covered against life-threatening ailments like cancer, kidney failure and stroke.

Improved Health

Any health issues that arise can easily be checked up with health insurance coverage. As a result, you’re assured of swift treatment and professional counsel from health experts.

Secure Finances

Health problems could be expensive if you need a lot of medical attention. It is difficult to determine when a health problem arises, so you’ll probably not afford hospitalization costs. With a health insurance plan in place, you’re sure to secure your finances even when you have not anticipated the medical expenses.

Health Insurance FAQs

Why Do I Need Health Insurance?

You can’t predict when you’ll get sick or hurt, but you will probably need medical care at one point in time. Health insurance will protect you from these unexpected costs and cover the high expenses.

How Does Health Insurance Work?

Health insurance protects you from the financial devastation that comes with the high cost of healthcare and medical treatment. With a plan in place, you pay some fees, and your provider pays the rest.

You’re required to pay a premium – a fixed amount you pay to your carrier each month. You will pay this amount even if you don’t use medical care that month. Most health insurance plans also require a deductible – the amount of money you pay out-of-pocket for medical care before your insurance starts to pay.

After paying your deductible, you are only required to pay coinsurance, which is a portion of all treatment costs. For instance, if your medical bill equals $10,000 and your health insurance plan has a 4% coinsurance agreement, you’ll pay $400 while your carrier covers the rest.

Your insurance plan may have limited coverage for some medical expenses, so your employer plan may offer vision and dental insurance or other benefits to fill these gaps.

What Does Private Health Insurance Cover?

Private health insurance is the key to extending your medical coverage beyond Canada’s Medicare system coverage. Provincial health insurance only gives you access to the essential medical services, so your medical bills could quickly pile up. A private health insurance plan complements your existing provincial program by extending coverage to things like home care and corrective lenses.

You can significantly benefit from private health insurance if you work on a contract or as a freelancer, are self-employed or have little group health benefits through your employer program.

Can I See a Doctor Without Health Insurance?

You can visit a doctor without health insurance, but the cost of treatment will be high. For instance, you’d pay up to $4,000 for one day spent at a hospital. You will also pay for x-ray, medication and other procedures.

Can I Get Treated Without Health Insurance?

Some inexpensive community hospitals and walk-in clinics will serve you without an insurance policy. Low-income citizens can also enjoy treatment without medical insurance at free clinics that operate with private donations.

Are Health Insurance Premiums Tax Deductible in Canada?

Canada’s provincial health plans won’t cover some medical expenses, including dental services. You need to pay premiums in a private plan to get coverage for these costs. These premiums and any uncovered costs may be deducted from your tax return, either using the Health Spending Account or Medical Expense Tax Credit method.

Do I Have to Take Health Insurance from My Employer?

Absolutely not. Your employer may offer health insurance, but you must not buy it. You can purchase coverage on your own.