Private Healthcare Plans
The ‘types’ of medical plans in the marketplace range in cost and comprehensiveness of benefits. Aside from the type of plan, the cost for private medical insurance is also determined by: age, the sum of insurance selected ($150,000 is the minimum recommended), choice of deductible, and—for some plans—answers to health history questions will also be a rating factor.
1. VISITORS TO CANADA MEDICAL INSURANCE
This is the lowest cost type of medical plan marketed for visitors and new residents awaiting Medicare. It covers the initial emergency medical services (hospitalization, doctor fees, ambulance, repatriation, etc.) required to treat an accident or unexpected sickness.
Worth noting is that Visitor plans offer little to no coverage for ‘continuing medical care’ once the initial emergency treatment has stabilized the condition to the point a plan member is declared medically fit to travel back to their ‘country of origin.’
2. EXPATRIATE’S MEDICAL INSURANCE
A more robust (and more expensive) form of interim medical coverage is a health plan designed for expatriates—people living outside their home country. While most expatriate health plans are only available on an annual basis, some offer short term coverage. Expatriate health plans offer higher sums of insurance and more generous coverage of continuing medical care, beyond the point an unexpected sickness or injury gets stabilized by emergency treatment.
Aside from the type of plan, the cost to buy private health insurance is determined by these:
- one’s age,
- the sum of insurance ($150,000 is the minimum recommended), and
- your choice of insurance deductible.
Are existing medical conditions covered?
The good news is that in all Provinces and Territories, Medicare covers healthcare for new and pre-existing medical conditions.
However, short term private medical plans typically exclude or restrict medical expenses relating to one’s medical history.
First note that interim medical plans exclude routine medical care, such as treatment to maintain a chronic condition. Some interim plans will cover an unforeseen emergency relating to a pre-existing condition IF the condition had been “stable” for long enough prior to the insurance start date. Each insurance company has its own definition of what “stable” means, and plans differ regarding of the amount of time an existing condition must have been stable prior to the policy start date in order for an emergency in Canada to be covered. You may feel great and be medically fit to travel, and yet be faced with insurance implications due to your health history. Therefore, it is important to preview and compare the terms and conditions of your private medical plan options.
How do I go about buying an interim medical plan?
Don’t buy interim health insurance blindly. An online search for medical insurance will generate pages of ‘results’ but before you hit the ‘buy now’ button, do what it takes to be an informed consumer like you would for any important financial decision.
The Canadian insurance marketplace offers a range of temporary medical plans for new residents and visitors. Investigate your options and consult with an insurance agent or broker who is knowledgeable about medical plans and who can advise you on the best options for your circumstances of age, health history, immigration status, and itinerary.