Affordable Health Insurance

Insurance Plans

In Canada, our national health insurance covers only our basic health care needs. Dental and eye care, as well as many prescription drugs, are some of the medical necessities that must be paid for by the patient. Many Canadians opt to sign up for a health insurance plan in order to help cover their medical costs. Choosing the health insurance plan that is right for you is an important decision. Below you will find some guidelines and definitions that will help you make an informed choice.

When choosing insurance plans, it is essential to consider your health requirements. Some of the medical expenses covered by insurance plans include prescription drugs, dental and eye care, prostheses and wheelchairs, chiropractors and massage therapy. In order to choose the plan that is right for you, it’s important to thoroughly evaluate your own medical needs.

Once you have established your needs, you should consider both individual and group plans. Contact your employer’s administration in order to find out about the group plan offered by the company. If you prefer an individual plan, it is a good idea to find an agent to help you in your decision-making process.

There is no fixed cost or set premium for an insurance plan. The amount you will pay depends on a number of factors including your age, sex and general medical status. You can choose a basic core plan, or decide to add on or opt out of certain benefits, depending on your needs.

The following terms are sure to come up when you begin researching insurance plans. Being clear about their meaning will help make the process of choosing a plan easier.

Eligible Expense: These are the medical expenses for which you can be reimbursed.

Co-Insurance: This means the insured individual and the insurance company share the cost of medical charges at a pre-determined percentage.

Exclusions: These are expenses which are not covered by a health insurance plan.

Benefit Maximums: This is the maximum amount of benefits that the health insurance policy will cover. Your benefit maximums should be high in order to cover potential costs of surgery or major health problems.