You are looking forward to your education as a stepping-stone to your career ahead – one that you can be successful at in your future. But your future also depends on your good health.
Did you know your provincial health insurance coverage does not cover all the healthcare costs most people need to take care of themselves? That’s why a health insurance plan is important. It helps protect your bottom-line finances by minimizing your out-of-pocket expenses, so you can get the health treatment you need to take care of a wide range of health issues you may face because of accident or sickness or just taking care of your day-to-day health needs.
Does a school provided health plan really meet your needs?
Under the health plan offered by many post-secondary schools, you are only covered if you are a full-time student (enrolled in the minimum course requirement) for each semester. Often the first semester is in the fall from September to the end of December. The winter semester is usually from January and your health coverage under a school’s plan can run through to the end of August for full-time students.
If you are only part-time or enrol only in summer courses, you likely will not be covered by the school health insurance.
You are able to opt out of a school health plan if you have your own comparable Health and Dental Coverage – so consider these three reasons to do just that.
Reason #1 for having your own health insurance plan: Choice
Nobody ever plans to be sick or get hurt. Are you aware of what is (and isn’t) covered by your provincial plan? If so, can you afford the cost of those new glasses you need, or getting the massage for your aching back? While your regular doctor visits are covered, there are some services that you would need to pay for yourself.
Without a plan or depending on a plan that may only cover you for a few months a year, you’re taking a risk that doesn’t need to be taken. Consider all the things that you could have coverage for, but would have to otherwise pay for, such as:
- Prescription medication
- Paramedical services such as massage therapy and chiropractic care
- Ambulance fees, crutches, medical items, and more
All of those things come with a hefty price tag—one you can easily avoid by paying a comparably lower amount every month for a benefit plan. You may think you can do without those things, but if you get injured, you’ll wish you had something in place. Having health insurance gives you the choice to decide how to take care of your health – and what kind of coverage you want to have in place.
Health insurance plans can be very reasonably priced, so for a small cost you go a long way to take care of your health. There are plans available for everyone with provincial health insurance over the age of 18 with no medical questions asked.
If you are in good health and do not have any pre-existing conditions (health conditions that existed prior to applying for coverage) the best option is to purchase an underwritten individual health insurance plan that covers both prescription drugs and dental.
You can choose the type of health coverage you need which will cover a portion of healthcare expenses covered per year for:
- Medical equipment including coverage for diabetic medical supplies like needles and syringes, up to the yearly maximum benefit level (typically from $1000 to $3000 each year)
- vision care
- registered specialists and therapists including chiropractors, chiropodists, naturopaths, registered massage therapists, physiotherapists, acupuncturists, and registered psychologists or psychotherapists
- homecare and nursing or personal support workers, therapists, and dieticians
- prosthetic appliances
- accidental dental
- accidental death and dismemberment
- ambulance
- hearing aids
- travel medical insurance.
Together, the comprehensive range of benefits built into a health insurance plan provides a sturdy foundation that helps you manage healthcare expenses and get the care you need to avoid taking time away from your studies caused by untreated health issues. It helps you deliver your best.
Reason #2 for having your own health insurance plan: Flexibility
Health insurance gives you the flexibility to better manage both physical and mental health conditions by providing tools and assisting in covering costs for your care including
- access to medical professionals for video consultations, eliminating the obstacles of travel and waiting room time delays, helping you shorten the cycle between identifying a health problem and implementing a clinical solution, making taking care of your health more convenient and easier than ever
- tools to help you proactively work on your resiliency and wellbeing, and coverage to help you pay for medical support devices or experts like a psychologist or social worker you may need – keeping you mentally fit and strong today and in the future
- coverage for physical therapies to help with stress like massage or working with a naturopath which is not covered by your government health plan; the dollar amount covered per visit (if there is one) and the annual combined maximum benefit will be outlined in your health insurance plan.
- motivational programs to help you focus and achieve your health goals
- access to recent articles on finding care, managing your health, and preventing illness, provincial health resources and search tools to find a health facility or community support group in your area.
Health insurance even includes handy apps to download that can help you plan and manage your family’s health too – so you don’t have to worry about them.
Reason #3 for having your own health insurance plan: Portability
Whether you choose prescription drug coverage or a plan with dental coverage, for as long as you pay your premiums you will have health insurance coverage your entire life, whether you are working or not, married, or single.
Buying your own health insurance plan can be considered a milestone. It’s like a rite of passage into adulthood, when you begin to pay for things yourself. You may not be getting everything for free, but at least you’re avoiding the huge costs of medical and dental fees.
Illnesses and injuries don’t wait for a time when it’s most convenient for you – to be full-time at school or working in a job that offers health benefits. Neither do trips to the pharmacy or to a therapist. Health and dental insurance can help protect your financial interests during school, while you are searching for work, starting your own business or during a period of unemployment. It’s the smart choice that goes with you no matter where life leads.
SBIS helps you learn more about health insurance
If you want to learn more about health insurance, check out our Resources. At SBIS we are ready to help you understand how to choose the perfect health insurance plan and we make applying for coverage easy! Go online and in a few minutes, your application will be on its way to your insurer. If you have any questions, would like more information or need assistance selecting a plan, call us at 1-800-667-0429 or 416-601-0429. Our business hours are Monday to Friday 8:45 a.m. – 4:45 p.m. eastern time.
