Health insurance In Canada 2024

What is health insurance?

Coverage for everyday health costs, or if you or a loved one become sick or injured.

Health insurance is a policy or contract that gives you, the insured person, financial coverage to help pay for health-care needs. Depending on your policy, the insurance company pays for your covered health-care expenses. You pay the insurance company a monthly premium or fee.

In Canada, some of your health-care needs are already covered by your provincial or territorial plan. But it’s likely that government health care won’t cover all the medical, dental, or other health-care costs you might face throughout your life. Health insurance can help you cover these costs.

The COVID-19 pandemic has shown many Canadians just how quickly a health event can lead to financial hardships. Having health insurance coverage from an insurance company can help you avoid:

  • paying out-of-pocket to cover various health-care costs,
  • asking loved ones or family members for money, or
  • dipping into your savings to cover the costs of an illness or injury.

Depending on the type of health insurance you buy, you can receive coverage for a range of health-care issues, including the cost of:

  • prescription drugs,
  • dental bills,
  • hospital stays,
  • serious illnesses,
  • disability, or
  • long-term care due to aging.

Leave a Reply

Your email address will not be published. Required fields are marked *