Health insurance in Canada is one of the major parts of its healthcare system, widely known to be publicly funded. Even though it is a public system, health insurance is an important aspect that ensures that Canadians have access to many healthcare services.
This blog will provide a comprehensive guide to health insurance in Canada, covering both public and private insurance options, the top health insurance companies in Canada, and what to consider when choosing the right insurance coverage.
Public Health Insurance in Canada
The public healthcare system of Canada is called Medicare. It is a system that allows residents to receive the necessary medical services without paying out-of-pocket at the point of care. Medicare is funded by taxes and administered at the provincial and territorial levels, so there might be slight variations depending on where you live.
All of the provinces and territories in Canada have government-subsidized insurance plans. Therefore, a wide array of basic medical care is generally provided free to users from physicians’ offices, hospitals, surgery, diagnostic testing, etc. Most of it is free of charge at the point of service to the Canadian and permanent resident individual. However, there are several important caveats.
- Coverage limits: While Medicare covers most of the services, there are limits as to what the public system provides. Prescription drugs, dental care, vision care, and physiotherapy usually are not available in the public system. This is generally through private insurance coverage.
- Waiting lines: There are a couple more issues that are linked to long waiting times when seeking any type of health checkup related to the system in public. Non-emergency-related treatments put waiting lists for as long as months up to weeks it stretches, and this recently forced patients to call for personal health insurance.
Canadian Private Health Care Coverage
The public health system of Canada delivers crucial services to everyone, while almost every citizen still buys a separate private insurance coverage to enhance and supplement his/her basic Medicare package, for it will take care of everything not covered by Medicare. Privatized healthcare insurance also offers faster access to some other services that the public system does not provide at ease.
There are basically two categories in which private health insurance falls under in Canada:
- Supplementary Insurance Plans: These supplement the lack of public coverage. They often include prescription drugs, dental services, vision services, and especially paramedical services like physiotherapy and chiropractic treatment, as well as private hospital rooms. Many employers offer supplementary insurance plans as part of an employee benefits package, but individual purchases of supplementary plans are also possible directly from the insurer.
- Comprehensive Health Insurance: Provides a lot more coverage, including hospital care, visits with doctors, prescription drugs, dental, vision, and every other health-related service. Comprehensive health insurance plans are created based on individual or family needs, therefore being very flexible in comparison with the public system.
Best Canadian Health Insurance Companies
Private insurance companies in Canada include health insurance companies. All are large, well-established enterprises and offer a variety of plans that can accommodate the needs of individuals in the country. Among the top health insurance companies in Canada are:
Manulife
Manulife is among the largest in Canada and the most recognized provider of insurance in that country. This company provides health insurance schemes through supplementary and comprehensive covers. Manulife’s health insurance scheme can be tuned to such needs as one may have while providing access to the widest array of healthcare services from prescription drugs, to dental, and vision services among others.
Blue Cross
Blue Cross is a national insurance company that offers several health insurance products. In addition to other essential services, it covers prescription drugs, dental care, and vision care. It is known for its flexible plans and extensive network of providers.
RBC Insurance
RBC Insurance provides many health plans, which have incredible prescription drug, dental, and vision coverage. RBC Insurance is also well-known for outstanding customer service and very easy-to-understand plans.
Desjardins Insurance
The other significant companies providing health insurance services in Canada are Desjardins Insurance. It falls under several categories of plans offered according to requirements, family types, and availability for other optional forms of insurance: dental, vision, prescription drugs, and extended health services.
What to Consider When Choosing a Health Insurance Plan
One of the most important decisions in selecting the right health insurance plan is your access to healthcare services and financial protection. Here are a few things you may consider when selecting a health insurance plan in Canada.
- Coverage Needs: Determine what services are most important to you and your family. For example, if dental care or prescription drugs are a priority, ensure that your plan covers those services.
- Plan Type: You would have to ascertain whether you will need supplemental or major coverage. This would depend on whether you are very healthy and usually do not use a lot of medical services in most situations. Those individuals who use so many medical services generally need major coverage.
- Premiums and Deductibles: Compare premiums and deductibles with other insurers. Low premiums could be attractive; however, more expensive deductibles could raise your costs for out-of-pocket expenses during a medical crisis.
- Customer Service: Select a company that is known for strong customer service and claim handling capabilities. You would want such an insurer to respond quickly and efficiently when you seek help.
- Network of Healthcare Providers: It should have a wide network of healthcare providers, especially for those with specific doctors and clinics they would like to go to.
Conclusion
You simply can not have health insurance for good health in Canada; however, learning everything you are qualified for may mean the only proper decision and means that even among all those available plans you will be convinced you and all of your close relatives will manage to get at whatever healthcare providers you need for quality services.