The typical Canadian spends about $6,299 every year on health insurance. With so many different types of coverage, you may end up spending more or less than this amount.
As a Canadian, you have several reliable health insurance options. The hardest part is determining which plan works best for you.
We're here to walk you through all of your options for health and dental insurance. Here are some of the best insurance plans you should consider using:
All, or some of the products featured on this page are from our affiliated partners who may compensate us for actions and or sales completed as a result of the user navigating the links or images within the content. How we present the information may be influenced by that, but it in no way impacts the quality and accuracy of the research we have conducted at the time we published the article. Users may choose to visit the actual company website for more information.
1. Great-West Life
Great-West Life is a popular insurance company, covering over 13 million Canadians. It offers a convenient plan for both individuals and families who aren't fully insured by a provincial health care plan. Fortunately, Great-West Life also offers a plan for those who are retiring or are soon to be unemployed.
Many people turn to Great-West Life because it can help pay for any unexpected medical events. The plans also offer discounted prescriptions, and won't deny you coverage if you have a medical condition.
You can choose between two of Great-West Life's plans depending on your situation.
Individuals seeking health and dental coverage for themselves or family members benefit from the Sonata Health plan. This plan has three options: Core, Core Plus and Elite. They all have different levels of coverage for medications, dental care, and more.
Here's a brief overview of each plan.
The Core Plan is the most basic of the three plans. The biggest difference between Core and the other plans is that it offers 70% reimbursement for prescriptions. There's also an annual $500 cap on prescriptions for each person.
The Core Plan provides 70% reimbursement for typical dental visits. The maximum yearly amount that can be spent on dental care is $350 per person.
Core Plus is one step above the basic Core plan. For prescription drugs, the Core Plus plan provides you with 80% reimbursement on your medications. It also significantly increases the maximum to an annual $10,000 per person.
The Core Plus plan also offers an 80% reimbursement for routine dental treatments, as well as oral surgery, periodontal, and endodontic procedures. The maximum for dental care is $750 for each person.
With Core Elite, you'll have very high maximums. Not only will you get a 90% reimbursement on prescriptions, but you'll also have a maximum $250,000 to spend on medications each year.
You'll also receive an 80% reimbursement for regular dental treatments, dental surgeries, periodontal services, and more with a cap of $750 per year. The plan also provides 50% reimbursement for dentures and crowns.
It's always important to choose the right insurance plan for you. That's why if you're someone who is leaving a job or will be retiring in the near future, then you should look into Great-West Life's PlanDirect.
You're able to apply to this plan as long as you're 84 years or younger, and had recent health insurance coverage. You'll also be qualified for PlanDirect right after you leave your job, and you won't even need medical evidence.
For different levels of coverage, check out these plan designs.
With the Basic Plan, you'll receive the minimum amount for prescription drug and health coverage.
The Basic Plan consists of 80% co-insurance for prescriptions if you have a drug card, and 90% co-insurance without one. The maximum for prescriptions is $1000 annually. The Basic Plan also only covers dental accidents.
The Comprehensive Plan comes with 85% co-insurance toward prescriptions with a drug card and 100% co-insurance without one. The cap for medications is $1,500 in a year. Unlike the Basic Plan, the Comprehensive Plan allows for 80% co-insurance on dental care and a maximum of $1000 per year.
The Premier Plan has the highest maximums and coverage out of all of PlanDirect's options. You'll receive 90% of co-insurance for prescriptions, and a maximum of $2,200 each year. 85% of dental care will also be covered, and you'll be able to receive coverage for more complex procedures as well.
2. Green Shield Canada (GSC)
GSC assists you in paying for specialized health care that your provincial insurance doesn't cover. GSC provides insurance for both health care and dental care.
Like Great-West Life, GSC gives you the option of individual insurance plans. Here are some more details about the SureHealth ZONE and SureHealth LINK plans for individuals.
The ZONE plan is a great option if you're a freelancer, part-time worker, contract worker, or if you employ yourself. It's meant for people who've never had any coverage or haven't had any in a long time.
There are several tiers of ZONE plans, each with different levels of maximums. However, they all provide the possibility of health and dental care, short wait times, eye care, coverage for emergency travel, and great customer service.
Don't panic when your coverage is about to end--get insured with SureHealth LINK instead. This is a convenient option if you've recently lost your job, retired, became a freelancer, or if you've started working part-time. Make sure that you plan accordingly, as having health insurance is very beneficial for your health and wallet.
With SureHealth LINK, you're guaranteed to be accepted. It also covers any health conditions that you currently have, along with medicines, eye care, and specialized treatment. SureHealth LINK also comes with different plans that have varying levels of coverage.
3. Equitable Life of Canada
Equitable Life of Canada offers a variety of different plans for the scenarios that people may encounter. Equitable Life of Canada's Coverage2go has been created for those who have lost their group benefits plans.
Maybe you're about to leave your job. Coverage2go allows you to protect your family if you no longer have a groups benefits plan. You can work with Coverage2go to form a groups benefits plan that functions the same way as your old one. Not to mention that these health and dental plans are very affordable.
You won't even be required to fill out a medical questionnaire as long as you apply 60 days before you lose your insurance. On the other hand, anyone who ends up applying 61-90 days after their coverage ends will have to take Coverage2go's questionnaire.
Choosing the Right Health and Dental Insurance Plan For You
Whether you're on the brink of retirement, have a part-time job, or are freelancing, you can still get the health and dental insurance you need. Don't go without any protection, as medical events or emergencies can happen when you least expect it. Save yourself from harming your health and your bank account, and consider investing in any one of these insurance plans.
Still can't decide what insurance plan to go with? Check out our article on how to choose the health insurance company that's best for you.