Tip #1: Get Health Insurance While Healthy |
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| This is the most important advice that we can give you! We regularly hear from Canadians who are now shopping for health insurance because of current medical bills (e.g. prescription drugs, therapy not covered by provincial healthcare, etc.). Unfortunately, trying to buy health insurance after a serious health/medical condition is diagnosed is more difficult than getting coverage while you are healthy.
Keep in mind that most health plans are “medically underwritten”, which means that there is a medical questionnaire. Source: Health Quotes Canada |
Tip #2: Consider Guaranteed Health Insurance for Pre-Existing Conditions |
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| Some of us are diagnosed with a medical condition and do not have any health insurance. If this applies to yourself or someone you know there are two options:
Try to purchase a medically underwritten plan, in which case coverage for the pre-existing condition(s) will be excluded or the application will be rejected. Purchase a guaranteed issue health insurance plan that does not have medical questions (acceptance is guaranteed). These “no medical” health plans do offer coverage for pre-existing conditions. The drawback to these types of plans is that there is less coverage for the same premium cost when compared to a medically underwritten plan. Source: Health Quotes Canada |
Tip #3: Provincial Healthcare Plans Are Slowly Decreasing Coverage |
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| The current, long-term trend with most provincial healthcare plans (e.g. AHCIP for Albertan s, OHIP for Ontarians, etc.) is a gradual decrease in coverage. This means that more Canadians will be paying for treatments or medications that used to be paid for by the province.
For example, as of January 1, 2013, OHIP will no longer cover annual physical checkups (they are being replaced by the less frequent “Periodic Health Exams”). What does this mean for Canadians? If you do not have health insurance coverage then you’ll be covering more medical costs out of pocket. Source: Health Quotes Canada |
Tip #4: Prescription Drug Costs Can Hurt You Financially |
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| Knowing that your health can deteriorate as you get older, not getting insurance while you are healthy can bring consequences and make it hard on you financially. If you wait too long, chances are you would get some exclusions for your drugs and wouldn’t be fully covered.
Remember that prescription drugs are only covered by provincial health plans if administered while in a hospital, or if the person in question is 65 years of age or older. (Note: each province has different public healthcare plans that determine what is covered and how much coverage there is). Source: Health Quotes Canada Get you thinking…The following chart provides an overview of a few estimated annual costs for prescription drugs for the most common health conditions: Remember that prescription drugs are only covered by provincial health plans if administered while in a hospital, or if the person in question is 65 years of age or older. (Note: each province has different public healthcare plans that determine what is covered and how much coverage there is).
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Tip #5: Why is Dental Insurance Important? |
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| Taking proper care of your teeth and gums requires more than brushing and flossing every day. You also need to see a dentist at least twice a year for a cleaning and check-up. It’s especially important for children to get in the habit of visiting the dentist regularly.
Without dental insurance, the cost of these procedures can quickly add up. Also, when dental incidents arise and you need more treatment for your teeth and gums than simple preventative measures, you could be looking at high costs. One of the more common dental procedures referred to as fillings, can run several hundred dollars or more. Likewise, procedures such as root canals and extractions can cost several hundred or even thousands of dollars. If a dentist determines that these procedures are necessary for your oral health, putting it off because of lack of funds can be detrimental to your teeth and gums. Dental insurance helps pay for some or most of the cost associated with these procedures. Your dental insurance plan provides you with access to care you may not have been able to afford otherwise. Source: Insurance Quotes |
