When it comes time to sign up for health insurance, you’ve got plenty of options to weigh as a Canadian with so many Canadian health insurance companies available. With public and private providers available, you’ve got to figure out what plan makes the most sense for your situation. What kind of coverage do you need right now and what can you afford? Getting clear on those basics helps narrow your choices.
Comparing a few of the major health insurance companies operating in Canada also gives you a better sense of their offerings. Let’s walk through what a handful of the top providers bring to the table in terms of pricing, services covered, and more. That info makes it easier to find the carrier and plan that truly fits your health and budget.
Overview of Canadian Health Insurance Companies
Canada has a universal healthcare system called Medicare that provides basic health coverage for all citizens and permanent residents. However, many Canadians also have additional private health insurance through their employers or purchase it themselves.
Public Health Insurance (Medicare)
Medicare coverage includes services such as hospital stays, physicians, and diagnostic procedures. Each province and territory administers its health insurance plan, but the coverage across Canada is comparable. Medicare does not cover dental care, prescription drugs, home care, or long-term care.
Private Health Insurance
Private health insurance in Canada supplements Medicare coverage. It is offered through group benefit plans provided by employers, or individuals can purchase private health insurance policies on their own. Private plans typically cover services not included under Medicare like:
- Prescription medications
- Dental care
- Vision care
- Alternative therapies like massage therapy or chiropractic care
Private health insurance also provides additional coverage for health care expenses like semi-private or private hospital rooms, ambulance fees, medical equipment, and paramedical services. For those without group benefits, individual health insurance policies offer similar supplemental coverage at a monthly premium.
Comparison of Public and Private Health Insurance
While Medicare provides essential basic health coverage to all Canadians, private health insurance fills in many of the gaps. For most, a combination of public and private health insurance offers the most comprehensive coverage. The specific mix of public and private insurance depends on your individual needs and what may be offered through your employer. Comparing plans and policies helps ensure you have coverage for medical services that are important to you and your family.
Is Health insurance in Canada Mandatory?
In Canada, health insurance is not mandatory by law for all citizens. However, most Canadians do have health insurance coverage through programs run by their provincial governments. The health care system in Canada is publicly funded, which means that coverage is provided through the government.
The majority of Canadians receive basic health coverage through programs like the Ontario Health Insurance Plan (OHIP), the Alberta Health Care Insurance Plan (AHCIP), and the British Columbia Medical Services Plan (MSP). These provincial health plans provide coverage for essential medical services like doctor visits, hospital stays, surgeries, and diagnostic tests. Most Canadians do not pay premiums for these basic health plans.
While basic coverage is provided to all citizens through provincial health plans, additional health insurance in the form of extended health benefits is typically obtained through employers. Extended health plans provide coverage for services like prescription drugs, dental care, vision care, and alternative therapies which are not covered under provincial health plans. These extended health plans are optional, but many Canadians obtain coverage through work or purchase private health insurance plans.
In summary, although health insurance is not mandated by law in Canada, most citizens do have coverage for essential medical services through government health plans. Additional health insurance for extended benefits is typically obtained through employers or private insurance companies. The universal health care system in Canada aims to provide all citizens with access to medically necessary hospital and doctor services without paying out-of-pocket costs like premiums, deductibles, and co-pays.
FAQs on Health Insurance in Canada
Wondering how health insurance works in Canada? Here are some commonly asked questions to help you understand the basics.
Do I need health insurance in Canada?
As a Canadian citizen or permanent resident, you have access to universal health care through your provincial health insurance plan. This covers medically necessary hospital and physician services. However, additional health insurance is recommended to cover things like dental care, prescription drugs, vision care, and other extended health benefits. Many Canadians get additional coverage through their employer or purchase private health insurance plans.
What does Canadian health insurance cover?
Your public provincial health insurance covers:
- Hospital services like surgeries, tests and treatments
- Medically necessary doctor visits and exams
It does not cover:
- Dental care
- Prescription drugs
- Vision care (glasses and contact lenses)
- Alternative therapies (e.g. massage, acupuncture) Mental health services (e.g. psychotherapy)
- Home care and long-term care
For coverage of these types of health services and more, additional private insurance is typically needed.
How much does health insurance cost in Canada?
The cost of health insurance in Canada depends on the type of plan and coverage you choose. Basic plans start around $50- $100/month. More comprehensive plans with dental, drug, and vision benefits can cost $200- $500/month or more for a family. If purchasing through your employer, they may cover part of the premiums. Private health insurance is also tax deductible.
Can I buy private health insurance in Canada?
Yes, you can purchase private health insurance plans to supplement your provincial health coverage. Many reputable insurance companies in Canada offer private health insurance including Sun Life, Manulife, Blue Cross, and Desjardins. You can compare quotes and buy plans on their websites or through an insurance broker.
Conclusion
So in summary, while Canadian health insurance companies have their pros and cons, they aim to provide affordable coverage to keep people financially stable in case of injury or illness. Just remember to read all the fine print before signing up so you know exactly what’s covered or not. At the end of the day, having some insurance is better than being exposed. Do your research, ask questions if you have any, and find the company and plan that fits your needs and budget best. Healthcare costs can be confusing but being an informed consumer will help you navigate the system smoothly.
