Health / Dental

Health Insurance - What Can You Possibly Expect?


The market choices are plentiful but quality plan options limited. A good starting place is identify a program with good lifetime limits, usually $1,000,000 or unlimited and choose one that has a high drug limit. The days of unlimited drugs is almost gone.  Ask yourself, is the benefit significant or not and if you are unsure or think it may be insignificant then more time is needed to evaluate before deciding.  For the self-employed premiums are tax deductible thus treated as a 100% business expense. 

Many people think that upon finding out that they have a medical condition such as Type I diabetes it is a good time to look to obtain health coverage. For individual extended health plans it does not work this way as pre-existing conditions will be excluded most times, and where they are not the coverage is normally inappropriate in terms of having good protection. If a company makes you an offer excluding pre-existing conditions it is often still worthy of consideration as the contract will still protect you from future illnesses and accidents. The best advice is to enroll into these programs while you and your family are healthy to protect you from the possibility of a big future hit.

Your spouse and children are also eligible for benefits. Children must be dependant and under age 21 at the time of application. Once insured benefits can usually be extended to age 25 for full-time dependant students. To be eligible, you must be a Canadian resident. For Health Care benefits, you and your family must be covered by a provincial/territorial government health plan.