Health insurance is a critically important investment. As you decide on a health care plan, it makes sense to think about the long term, and to consider your current and future health care needs. While you may not need certain types of medical care right now, that can change at any time. Your needs as a health care consumer will inevitably change over time as you age, so it’s important to make sure you have a health insurance plan that can evolve with you.
Your needs and those of your family will change
Whether you are single, have just started a family or already have children, your family’s health care needs will change over time. Provincial health care plans often cover doctors’ visits, required tests and hospital stays, but it is important to be aware of the limitations. Your doctor’s visit may be covered, but you’ll need to pay for prescription medications yourself. If you are hospitalized, the Régie de l’assurance maladie du Québec (RAMQ) will cover only ward accommodations. With a private plan, semi-private or private accommodation is covered.
Elder care can be difficult and costly
While middle or old age may still be many years away for you, it’s important to consider the health challenges you may face later in life. As Canadians age, they are increasingly at risk for various health problems. More than ten million Canadians over the age of 45 are dealing with at least one chronic health condition, and 1.6 million Canadians over 45 suffer from unhealthy dental conditions. Home care costs don’t come cheap. Elder care facilities in Canada are some of the best in the world, but this quality comes at a price. A 2010 study found that the cost of caring for each person living in a residential facility was nearly 190 dollars per day, and those costs were increasing.
Fortunately, consumers have options. Regardless, if you are looking for private health insurance for seniors or health insurance for married couples you can discuss your financial situation and future needs with a Blue Cross licensed insurance broker. Call Blue Cross for information on our policies or to request to have a broker contact you.