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Canadians Still Need Health Insurance

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When considering places to live, Canada tops a number of lists. For our government-funded healthcare alone, Canadians are a very fortunate group of people. With world-class health care that is funded by the government of the province or territory at our disposal, many Canadians wonder if private, supplemental health insurance is still necessary.

It’s true that many health care services are covered by the government plans, however, there are a number of services that are not covered. It is a shock to many people in a health crisis when they learn they had been taking some essential healthcare service offerings for granted. Treating a serious injury or life-threatening illness is what doctors do best, and their work is aided by private health and dental insurance carriers.

Hospital Stay Insurance

The day you or a loved one lands in the hospital in an emergency may be one of the worst days of your life. That day will likely only get worse when you discover that the peace and quiet that comes with semi-private or private hospital rooms can come at a steep price. Without additional health insurance, if you want a little room to breathe while in the hospital, it will cost hundreds of dollars per day in out-of-pocket charges. Otherwise, you will be sharing a room with up to six of your fellow patients and their medical team, friends and family. It’s certainly not ideal for the kind of rest required to get better quickly.

Prescription Drug Coverage

Those who have never needed a prescription drug for anything more serious than an upper respiratory tract infection often have no idea how expensive the drugs to treat a long-term illness can be. They also assume that all drugs for medical treatments initiated in hospital will be covered by the provincial plan. This is an expensive, and incorrect, assumption. While the physician and hospital services for treatments like chemotherapy and dialysis are covered by government health insurance, it is not as simple for the drugs used for post-hospital treatment. Drugs administered in the hospital are covered, but the drugs prescribed for in-home use after treatment are not.

Consider this: The drugs used to ward off infection after chemotherapy, a necessary and life-saving precaution, can cost more than one would ever imagine. The rigors of treating a serious and debilitating health condition are more than enough for any family to take, but facing the prospect of financial ruin on top of those treatments can be simply too much to bear.

Health Insurance Protects Quality of Life

When it comes to treating serious injuries and life-threatening illnesses, Canada’s healthcare team is certainly up to the challenge. Our medical professionals are among the best in the world. Carrying supplemental health and dental insurance is just one way you can help maintain your quality of life. When you or a member of your family is ill or injured, financial difficulties should be the least of your worries.

If you don’t already have private health coverage, talk to a broker today to help identify your health insurance needs and to select the right policy to protect you and your family.

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