HEALTH AND DENTAL INSURANCE

    Health insurance comes in many forms. It can be purchased by an individual or companies and employee benefits.

    Individual coverage

    Every Canadian will have some unexpected expenses. Regarding health and dental expenses that amount doesn’t have to be out of pocket. Health insurance can cover those costs. Health insurance covers three main areas.
    • Health
    • Dental
    • Vision care
    Each company that offers individual health plans has their unique benefits. However, the base of these plans remains the same. Individual plans normally cover
    • Prescription Medication
    • Dental Coverage
    • Vision Coverage
    • Travel Coverage

    When it comes to prescription medication policy offers a specified amount of coverage and a specified percentage. For example, you might see 90% up to $10,000 per person, per year. This number will change depending on your plan and provider. As well companies will specify if they cover brand names or alternatives.

    Most dental coverage is on a gradual scale. Meaning the longer you own your policy the more benefits you will receive. For example, you might twice be $500 year 1, $750 year 2, and $1,000 year 3+ in minor services. For major services or things like orthodontists, there is often a cap. This means you may receive $2,000 in benefits for children who need braces.

    Vision care often refers to eye exams. Where you can see a specialist and have $150 of coverage every 2 years. This should cover 1-2 eye exams.

    Travel insurance comes standard on most individual health plans. With is for anyone travelling outside the country. Most plans offer 30 days of coverage and $5,000,000 in benefits. For more coverage, you will want to look for a specialty travel insurance product.

    As mentioned above individual plans are not the same as employee benefits. Although much of the coverage remains the same when purchasing a plan through a business for your employees, you can customize the coverage far greater than an individual. The plans can start with as little as 1 employee and become a tax-deductible expense for the business, not just and non-refundable tax credit.

    For more information on health insurance feel free to reach out to one of our representatives as we would be happy to help.