How to Compare and Contrast Private Health Insurance in Canada

Posted by insur dinary on December 6th, 2019

The public healthcare system in Canada does not cover everything. Depending on your province, it may not cover prescription drugs, preventative dental services, and even routine medical exams. This is why most people get   Private health insurance in Canada to cover these out-of-pocket costs.

However, there are lots of insurance providers in Canada. The question is: how do you choose the best one? Read on to find out more.

What Type of Coverage Do You Really Need?

To choose the right private health insurance in Canada, you need to first figure out what you actually need. You can begin by reviewing your medical expenses, out-of-pocket expenses on prescription drugs, doctors’ visits etc.

This will help you to determine whether to go for higher prescription drug coverage, coverage for medical equipment supplies, vision care coverage, dental coverage, or even paramedical service coverage.

Are You Eligible for the Coverage?

The eligibility requirements for   Private health insurance may vary with the insurance policy. Some policies require medical exams and may not cover pre-existing conditions.

Some other policies have guaranteed acceptance and may provide coverage to every Canadian, irrespective of their medical history. If you have a pre-existing medical condition, this is probably the type of coverage you should go for. Click here to learn more.

Evaluate the Cost of Insurance

Insurance premiums are not the only costs involved. You may also have to pay deductibles and copayments.

Premiums are the amount you pay for the coverage every month. Plans with higher premiums offer more comprehensive coverage. Deductibles are the amounts you need to pay out-of-pocket in order for the insurance plan to become effective. Copayments are the amounts you are required to pay for covered services. This is usually a fixed amount.

What is the Plan’s Annual Limits or Maximums

It is also necessary to consider the plan’s maximum or limits. This is the maximum amount the insurer will cover in a year. In other words, once the limit is reached, you have to pay for the rest of the healthcare costs. It is better to for a plan with higher limit, but this depends on your condition.

Consider Your Employer-Issued Health Insurance Plan

Before shopping for coverage, you need to first check whether you are already covered by your employer. For instance, most employers in Canada provide restorative dental coverage to their full-time employees.

By reviewing your employee benefits first, you will determine what you really need and what you already have. Visit the Insurdinary blog to get quotes for   Private health insurance in canada.

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insur dinary
Joined: December 5th, 2019
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