Canada is renowned for its free healthcare system, providing comprehensive coverage to its citizens and residents. However, despite this, approximately 30% of your medical expenses remain uncovered by your provincial healthcare, leaving you responsible for these costs.
While Canada boasts one of the world’s top healthcare systems, certain critical services, such as dental care, eye care, and prescription medications, are not part of Canadian Medicare’s coverage. As a result, you and your family may find it necessary to seek additional coverage to ensure access to the highest quality care.
Health insurance in Canada bridges this gap by offering coverage for vital and often expensive medical services that fall outside the purview of your provincial healthcare. In this blog post, we will explore the 12 best health insurance companies in Canada. We aim to provide you with a comprehensive overview of their features, advantages, and disadvantages and offer valuable insights to assist you in selecting the most suitable health insurance plan for your specific needs.
The 12 Best Health Insurance in Canada
The 12 best health insurance in Canada includes both Public and Private health insurance companies geared towards covering health costs. Private health insurance goes as far as providing private hospital care, examinations, and procedures.
They also protect many people from large costs associated with hospitalization and physician visits and ensure that high-quality healthcare remains affordable for all Canadians. They include:
1. Manulife Health Insurance
- Age: All
- Provinces: All
- Eligibility: Must be a Canadian citizen and above the age of majority
Among all the companies we evaluated, Manulife Health Insurance stands out for its extensive range of available plans. They provide Flexcare health plans, Dental Plus, ComboPlus, Enhanced, and Basic plans, each offering a comprehensive set of products, including prescription drugs, dental services, vision care, and extended health care coverage.
The maximum sum insured under these plans can go up to $91,300. For male individuals residing in Ontario, the monthly premium is approximately $74.40, offering coverage of up to $250,000.
Pros
- Can include catastrophic coverage
- Options for most health insurance needs
- Earn Manulife Vitality reward points on your premiums
- Special family rates
- Emergency medical travel coverage available with the FollowMe plan
Cons
- Hospital benefits are not included
- Basic traveller’s insurance only covers the first 9 days of a trip.
2. SunLife Financial Health Insurance
- Age: All
- Provinces: All
- Eligibility: Must be a Canadian citizen and above the age of majority
Sun Life Health Insurance offers three distinct plans for you to select from, and each one provides coverage for prescription medications, dental care, and paramedical services. Notably, the two higher-tier plans also include vision coverage.
One of the options available is the Health Choice B plan, as well as the Health and Dental Choice B plan, which extends its coverage to include dental family services such as tests, x-rays, scaling, extractions, filings, and lab tests.
Moreover, the maximum sum insured under these plans is approximately $69,580, and for a 40-year-old individual who is single and a non-smoker, the monthly premium amounts to $74.40, with coverage extending up to $1,000,000.
Pros
- Get a quote online
- Offers most of the main health insurance coverages you’d expect
- Critical illness, long-term care, and disability insurance plans are available
- Virtual advisors are available to help you decide
- 3 different plans available for personal health insurance
Cons
- Emergency travel medical, a vision not included in the Basic plan
- Each family member must have the same plan.
3. GMS Health Insurance
- Age: All
- Provinces: All
- Eligibility: Must be a Canadian citizen and above the age of majority
GMS health insurance offers a range of extended healthcare products, encompassing medical supplies, equipment, and a variety of medical specialists. Among their offerings are the OmniPlan and ExtendaPlan, which cater to different needs. The OmniPlan provides extensive extended healthcare coverage, while the ExtendaPlan offers even more comprehensive coverage.
In addition to these, GMS also offers plans like the Basic plan, which is tailored for individuals seeking straightforward insurance coverage without the additional complexities of other plans.
Pros
- Get access through the My GMS portal
- You can submit a claim online or via the app
- Offers counselling and speech therapy are covered in some plans
Cons
- Poor GMS policy reviews online
- Some reviews note that hospital benefits are not automatically included
- Vision and travel insurance not included in the basic plan
4. Ontario Blue Cross Health Insurance
- Age: All
- Provinces: All
- Eligibility: Must be a Canadian citizen and above the age of majority
In Ontario, a variety of insurance plans are available, and the majority of them offer essential insurance products. These plans encompass options such as Blue Choice, Basic Plus, Blue Choice Balance, and Blue Choice, with most of them being package deals.
Specifically, the Blue Choice plan empowers individuals to customize their coverage according to their unique needs and preferences.
Pros
- Wide availability
- Virtual health care included
- Flexibility and premium coverage
Cons
- Plans may vary depending on the region
- Difficult to navigate
5. CAA Health Insurance
- Age: All
- Provinces: All
- Eligibility: Must be a Canadian citizen and above the age of majority
Their coverage starts with a fundamental health care plan, which is a positive feature. They provide both vehicle insurance and health care insurance services. Notably, they tailor distinct plans for each age group.
It’s worth mentioning that they deliver these services through Manulife health insurance companies, ensuring that individuals can reap the benefits based on their specific age group.
Pros
- 30-day refund policy
- Partners with Manulife insurance
- Ability to mix and match plans
- Discounts are available when you bundle health and dental
Cons
- No online claims submission
- Poor online reviews
6. Green Shield Canada Health Insurance
Green Shield Canada offers two distinctive plans: Zone and Link. The Zone plan is tailored for individuals who are new to the private healthcare system, while the Link plan is designed for those who are transitioning from or leaving a private healthcare plan.
Additionally, Green Shield Canada provides several other unique plans that cater to specific needs. This means that individuals who are retiring and wish to maintain private coverage have the option to do so seamlessly.
Pros
- Mental health services coverage
- Excellent drug cover with an affordable price
- Good deals for young people with low health needs
- Comprehensive cover for health professionals
Cons
- Dental coverage is not automatically included in basic plans
7. Desjardins Health Insurance
With a rich history and a prominent presence in Canada, Desjardins stands out as a top insurance provider. Their health insurance plans offer flexibility, allowing you to bundle them with other policies such as travel, life, and dental, which can lead to cost savings.
In comparison to their competitors, Desjardins does have slightly higher premiums, but they compensate for this with a broader array of coverage options. However, it’s worth noting that Desjardins lags behind some rivals in one aspect: the company does not provide the convenience of signing up for a medical insurance policy online.
Pros
- High maximum coverage limits
- Dental, medical insurance, vision, and travel coverage included in the standard plan
- Enhanced hospital care
- Online health platform and 24/7 telephone assistance
Cons
- Plans not available after 70 years old
- A policy can only be issued on the 1st or 15th of the month
- Lack of comprehensive online services
7. TD Health Insurance
TD Insurance provides services for individuals seeking critical accident and critical care insurance plans, marking a bold move to bring about positive change.
Moreover, they extend their coverage to include accident and sickness hospitalization services, demonstrating their commitment to simplifying healthcare insurance.
Understanding Health Insurance in Canada
Health insurance in Canada encompasses policies designed to assist in covering healthcare-related expenses. Canada’s healthcare landscape consists of a combination of public and private insurance plans, with each province and territory administering its own plan, commonly called the “Provincial Insurance Plan.” These plans were established under the Health Accords signed in the early 1990s.
Given the evolving nature of healthcare in Canada, finding coverage that aligns with your specific needs can be a daunting task. Fortunately, collaborating with a health insurance agent is the most reliable approach to securing a plan tailored to your requirements.
Health insurance in Canada plays a pivotal role in ensuring that you and your family receive the necessary support when medical needs arise. With various types of health insurance available in the country, you can access medical care without concern about the associated costs.
How to Choose a Good Private Health Insurance Plan in Canada
Below are some tips that will aid you in choosing the best Health Insurance Plan in Canada.
- Research for the right coverage online.
- Operate within your means and keep it affordable.
- Go for family over individual health plans system
- Go for the ones with discounts and many offers.
- Select a plan with lifetime renewability.
- Never forget to compare quotes online.
- Network hospital coverage in your province
- Choose the ones with a high claim settlement ratio.
- Select the plan that suits your needs.
Types of Individual Health Insurance Plans in Canada
Health insurance in Canada plays a crucial role within the framework of Canadian and provincial legislation, ensuring access to necessary healthcare when required. It is important to note that there are two primary types of health insurance in operation across the country: private and public health insurance.
Private health insurance in Canada is typically acquired by individuals or offered as an employment benefit by employers. The primary objective of these insurance policies is to safeguard individuals from the potentially high and unpredictable costs of medical care that the government does not cover. These plans encompass various services, including prescription drugs, dental care, eye care, and various other healthcare services.
On the other hand, public health insurance represents the concept of universal healthcare. It is financed through the taxes paid by Canadian citizens and administered by the federal government.
As a Canadian citizen, possessing a health insurance card is a mandatory requirement for accessing medical services. It’s important to note that each province within Canada operates its own distinct health insurance system, resulting in variations from one region to another.
In Canada, private health insurance covers the following:
- Prescription medication
- Dental care
- Vision and prescription eyeglasses
- Physician services, surgery/anaesthesia, x-ray and laboratory services
- Physiotherapy
- Ambulance services
- Hearing aids
- Nursing care
- Chiropractic care
- Other optometry services
While public health insurance covers:
- Doctor’s visits
- Hospital visits, and
- Surgeries.
Private Health Insurance Vs Public Health Insurance in Canada
Private Health Insurance Public Health Insurance Operated by different firms Run by the government of Canada Funded by individual Funded through taxes For citizens who subscribed to the plans For all permanent residents or every citizen Includes additional health insurance covers like prescription drugs, dental care, eye care Includes only the basic health treatment. Does not extend to prescription drugs and so on. Operates different plans that suit all individual's and family needs Offers only basic medical needs. E.g. doctor’s visits, hospital visits, and surgeries. The percentage of what they cover is high and unique. It is peculiar to the provider's unique plans. What is covered is limited, and at what percentage it is covered varies between provinces. Private health insurance in Canada provides basic medical services and also makes up for significant gaps in public health coverage. Public health insurance provides basic needs and is governed by government rules and policy. Examples are SunLife, Manulife, Blue Cross, Desjardins, GMS, and Canada Life (which absorbed Great-West Life and London Life), e.t.c. Examples are OHIP in Ontario, etc.
Benefits of Private Health Insurance Policy
If you live in Canada, part of your income tax return will contain a section on how much money you made that year, how much you spent on payments for medications and doctor visits, and any medical expenses you have incurred. It is also pertinent to get private health insurance in Canada because
- It gives you options for treatments and when and where you need them.
- Offers a larger range of services and treatments
- It helps prevent future unexpected medical expenses
- Some health insurance providers render affordable and cost-effective medical services.
- Saving on health emergencies
- It gives you peace of mind of not worrying about how to pay for a large health care charge.
Public Health Insurance Systems for Each Province and Territory in Canada
The ten provinces in Canada and three territories offer their own public insurance policies. Health insurance policies change depending on the province you live in Canada. Some are significantly different. They offer basic health care services, but some are more generous than others.
Province or Territory Provincial Public Health System Alberta Alberta Health Care Insurance Plan British Columbia Medical Services Plan Manitoba Insured Benefits Branch Of Manitoba New Brunswick New Brunswick Medicare Newfoundland and Labrador Newfoundland And Labrador Medical Care Plan Northwest Territories NWT Health Care Plan Nova Scotia Nova Scotia Health Nunavut Nunavut Health Care Plan Ontario Ontario Health Insurance Plan Prince Edward Island Health PEI Quebec Quebec Health Insurance Plan (RAMQ) Saskatchewan Government Of Saskatchewan Yukon Health Care Insurance Plan (YHCIP)
Final Thoughts on The Best Health Insurance In Canada
Canada’s healthcare system is renowned, but when it comes to comprehensive coverage, it’s clear that private health insurance plays a vital role in bridging the gaps. The vast landscape has many choices to cater to your unique needs. The key is to find the perfect match that offers you peace of mind and the coverage you deserve.
As you navigate the world of health insurance, remember that the right decision can have a profound impact on your well-being and financial security. So, whether you’re a young professional, a growing family, or someone looking to secure your retirement, the best health insurance in Canada is within reach.
Don’t hesitate to contact our expert advisors to guide you through the selection process and ensure you make the best choice for your health and financial future. Your journey to optimal health coverage starts here. Make the call and secure your peace of mind today!
