The coverage provided by the government medical care plan is very good but it does have its limitations. There are various medical insurance plans in the different provinces of Canada and depending on where you live these will be applicable. However these provincial medical care plans provide only limited coverage that will not be adequate in case of an emergency.
You can select the coverage of the plan depending on your individual requirements. Here is a look at some of the popular plans.
Dental care – $500 in the first year, $750 in the second year and $1000 in the next 12 months thereafter. Preventive cleaning and polishing is paid at 80% while periodontal treatment, root canal treatment is paid at 60% in the first year, 70% in the second year and 80% thereafter.
Prescription drugs are limited to a maximum of $3000 per year per person.
Vision care – $150 in the first 24 months, $200 for the next 24 months and $300 for every 24 months thereafter. Eye examination for every 24 months $65.
Home support services – Private duty nurse $1500 in the first year, $2500 in the second year and $5000 in the third year and thereafter.
Let us have a quick overview of the limitations of provincial medical care plans.
Prescription drugs have limited cover for senior citizens and families of lower income groups,
There is also limited coverage for dental checkups and treatment. The vision coverage is also limited to seniors.
In some cases limited cover is provided to homecare and nursing facilities.
Specialized care is also limited in some cases and these include treatments by chiropractor, chiropodist, naturopath, speech therapist, acupuncturist, registered massage therapist, psychologist and physiotherapist.
Medical equipment and supplies are also limited in some cases. Personal emergency response is not covered.
Hearing aids and accidental death and dismemberment are also not covered.
Emergency medical insurance for travelers is also limited.
Due to these limited cover there exists a gap that can only be covered if you opt for a private medical insurance. Contrary to belief medical insurance can be easily budgeted. There are various medical plans that are available where the premium will remain the same for the first ten years and will change after this period.
Even if you are healthy, it would be advisable to have a medical cover that will cover any illness or emergency. As you get older the risk of developing various illnesses increases and if your medical insurance does not provide for adequate cover, it could lead to high cost of treatment.
In most cases the additional medical insurance is provided by the employer but if you are self employed, you can compare the various plans that are available and make the choice based on your individual needs. If you are self employed the premiums paid for medical insurance are also deductible as tax.
The choice of medical insurance companies should depend on the service provided, accessibility and reputation of the service provider. You can seek the guidance of your friends and family who have previously purchased private medical insurance.
The premium that you pay for the medical plan of your choice will vary based on certain factors and these include your lifestyle habits, previous medical history and previous claims made. You would be able to get a discount, if you have not made any previous claims on your medical care plans.
You can also choose to customize the medical plan based on your specific needs and requirements. Based on your individual budget you can choose the medical plan of your choice. You can also choose to broaden your medical cover, if you require any specialized form of treatment.
Private medical insurance should be considered as an investment plan that will help protect you and your family against spiraling medical costs in the future. You would be able to create a safety net with your choice of medical insurance that will help safeguard you against any emergencies. So compare and purchase the best medical insurance of your choice.