Posted by Canada’s healthcare system is regarded as one of the best in the world, ranking 4th and providing all citizens and permanent residents with free access to emergency care and regular doctor visits. This feat has been achieved over the years due to the integration of insurance into the health sector.
However, choosing the best medical insurance in Canada can be a daunting task at times. Given that there are many options available, you may also find it a bit complicated to decide on the right company that will be suitable for you and your family.
As a result, you may need to do some extra research yourself so that you can avoid mistakes when purchasing this medical insurance.
To aid you with your research, we have provided you with a comprehensive overview of the best medical insurance in Canada, including their benefits, coverage, and other vital information that will be useful for you.
So let’s start by first understanding how Canada’s health care system works.
How Does Canada’s Healthcare System Work?
According to Commonwealth, an independent nonprofit group that researches healthcare and provides grants that are aimed at improving the lives of people, Canada has a decentralized and publicly funded health institution.
It went ahead to state that each of the provinces and territories in Canada has its own insurance plan, and each receives cash assistance from the federal government on a per-capita basis.
These plans cover medically necessary hospital and physician services, but the services that are offered from province to province differ. In addition, private insurance is available to cover additional services that the public healthcare system doesn’t cover.
However, you have to know that it’s not everything that the public health system covers. The government provides about 70% of your medical needs as a Canadian citizen, while you have to make out-of-pocket payments or get supplemental private insurance for the rest.
The Importance of Medical Insurance in Canada
Below are things you benefit from medical insurance as a Canadian resident:
- Peace of mind
- Prevention and early detection
- Quality of care
- Financial security
- Protecting family members
- Mental health coverage.
Peace of Mind
You get to have a relaxed mind, knowing that you and your family members have been safeguarded in case a health challenge or even an injury occurs.
Prevention and Early Detection
Your regular check-ups, screenings, and preventive measures require money. This insurance takes care of, or better yet, covers, the cost of these preventive measures, which can help detect illnesses early and reduce the risk of developing more serious conditions.
Quality of Care
You don’t just have to treat yourself; you have to ensure that quality care and treatment are given to you. But they are not cheap.
So, with medical insurance, you get to receive top-notch treatments, and your insurer will sort out the cost.
Financial Security
If you or a family member becomes seriously ill or injured, medical insurance can help cover the cost of treatment, which can prevent financial hardship.
Protecting Family Members
You can still choose to extend this insurance coverage beyond yourself to the members of your family. So that your spouse and kids will not be left out.
Mental Health Coverage
Some medical insurance plans also cover mental health services, which are important for overall well-being.
Criteria for Selection of Canada’s Best Medical Insurance
Selecting the best medical insurance in Canada requires the following criteria:
- Coverage: Make sure the plan covers the services you need and want
- Customer service: Choose a plan from a company that has a good reputation for customer service
- Network of providers: Ensure that you choose a plan with a wide network of healthcare providers
- Claims process: Choose a plan with a simple and swift claims process.
List of the Best Medical Insurance in Canada
The following are Canada’s best medical insurance providers:
- Blue Cross Blue Shield
- Manulife
- Sun Life
- Canada Life
- Costco
- CAA
- GMS
- Greenshield
- Desjardins
- Johnson Insurance.
Details of the Best Medical Insurance in Canada
1. Blue Cross Blue Shield
- Rating: 4.8
- Eligibility: Must be a citizen of Canada and up to 18 years of age.
Pros
- They are widely available across Canada
- Their premium coverage is very flexible
- Virtual health care is included.
Cons
- Plans may vary depending on your region
- Their online platform is difficult to navigate.
Description
Blue Cross Blue Shield of Canada is one of the leading providers of medical insurance in the country, offering a wide range of plans to suit your needs.
Their plans cover a range of medical services, such as hospital stays, doctor visits, prescription drugs, and more.
Blue Cross Blue Shield of Canada also covers some extra benefits, such as travel insurance, dental coverage, vision care, etc.
2. Manulife
- Rating: 4.4
- Eligibility: Must be a Canadian citizen and up to 18 years of age
Pros
- Options for most health insurance needs
- Earn rewards and save money with Manulife Vitality
- Get special rates for families with three or more children.
Cons
- The options can be overwhelming
- Always make sure to shop around.
Description
Manulife is one of the best medical insurance companies in Canada, and it offers a wide range of plans to meet your needs while covering a variety of medical expenses, such as hospital stays, doctor visits, prescription drugs, and more.
Manulife Financial has a strong reputation for customer service and is known for being easy to work with.
They also have a wide network of healthcare providers across the country.
3. Sun Life
- Rating: 4.2
- Eligibility: Must be a citizen of Canada and above the age of 18.
Pros
- Offers most of the main health insurance coverages you’d expect
- Virtual advisors are available to help you decide
- There are three different plans available for personal health insurance.
Cons
- Vision care is not available for a Basic personal plan
- Accidental death and dismemberment are only available with life insurance.
Description
Sun Life Financial is a leading provider of medical insurance in Canada, with over 100 years of experience in the industry.
They offer a wide range of plans, including individual and family plans, employer-sponsored plans, and group plans for organizations.
Their plans cover a range of medical expenses, including hospital stays, doctor visits, prescription drugs, and more.
They also offer a variety of optional benefits, such as dental care, vision care, and travel insurance.
4. Canada Life
- Rating: 3.8
- Eligibility: Must be a citizen of Canada and above the age of 18
Pros
- They offer a wide range of plans to suit a variety of needs
- Their customer service offers top service
- A broad network of healthcare providers.
Cons
- Some plans have high deductibles
- Not all plans cover prescription drugs
- Some plans have restrictions on pre-existing conditions.
Description
Canada Life is a large and well-established insurance company that offers a wide range of insurance products and services.
This medical insurance provider offers a variety of plans to suit your medical needs. Their plans include hospital and medical coverage, prescription drug coverage, dental care, vision care, and more.
They also offer a variety of flexible and customizable options to meet the specific needs of their customers.
5. Costco
- Rating: N/A
- Eligibility: Must be a citizen of Canada and above the age of 18
Pros
- Affordable and accessible plans
- A wide range of discounts and savings
- Costco is a well-known and trusted brand.
Cons
- Coverage may be limited compared to other providers.
- Not all members qualify for coverage.
Description
Costco is not an insurance company itself, but it does offer a variety of health and dental insurance plans through a partnership with Canada Life.
For you to access the Costco Health and Dental Insurance Plan, you have to be a member of Costco. There are a variety of benefits that this company offers, such as medical and dental coverage, prescription drug coverage, and vision care.
6. CAA
- Rating: 4.0
- Eligibility: Must be a citizen of Canada and up to 18 years of age.
Pros
- They have an affordable plan with a variety of coverage options
- A wide range of value-added benefits is available
- They have excellent customer service.
Cons
- Not all members are eligible for CAA plans
- Their coverage is limited in some area
- May not cover all medical expenses.
Description
CAA offers some great customization options, and they let you choose your health, drug, and dental coverage separately.
The Canadian Automobile Association offers health and dental insurance plans to its members through its partnership with Manulife Financial.
CAA’s plans are available in all provinces and territories in Canada, and they offer a variety of coverage options, including basic, extended, and comprehensive plans.
7. GMS
- Rating: 3.9
- Eligibility: Must be a Canadian citizen and up to the age of 18
Pros
- Their plans are very affordable
- They have a dedicated customer service team
- This medical insurance provider offers competitive prices.
Cons
- Only available in some provinces and territories
- Not all healthcare providers accept GMS plans
- May not cover all your medical expenses.
Description
GMS, or Group Medical Services, is a non-profit health insurance provider in Canada. It offers health and dental insurance plans to individuals and families, as well as corporate and association plans.
They are known for their personalized service, with a dedicated customer service team available to help you with questions and claims.
8. Greenshield
- Rating: 3.7
- Eligibility: Must be a citizen of Canada and up to 18 years of age
Pros
- It is a not-for-profit company
- Innovative and tech-focused
- It has competitive rates
- Coverage for a range of health care expenses.
Cons
- May not cover all medical expenses
- Plans may be limited in some provinces.
Description
This is another non-profit health insurance provider that offers individual and family plans, as well as group plans for businesses and associations.
GSC’s plans cover a variety of health care expenses, including dental, vision, and paramedical services.
It is known for its focus on innovation and technology, with online claim processing and mobile apps. This company is also committed to giving back to the community, with donations to health-related charities.
9. Desjardins
- Rating: 4.5
- Eligibility: Must be a citizen of Canada and up to 18 years of age.
Pros
Strong customer service
A range of value-added benefits
They have good, competitive rates
There are a variety of plans for you to choose from.
Cons
Their plans may not cover all your medical expenses
Not all plans include dental and vision care.
Description
Desjardins offers individual and family plans, as well as group plans for businesses and associations. It has a strong reputation for customer service, with a dedicated team available to help with your questions and claims.
One of the advantages of Desjardins is that it is a cooperative company, which means that members have a say in the company’s direction.
10. Johnson Insurance
- Rating: 3.8
- Eligibility: You must be a citizen of Canada and up to 18 years of age.
Pros
An extensive network of health care providers
Competitive rates
Focus on customer satisfaction
It is easy to make claims.
Cons
Not available in all provinces
May not cover all medical expenses
Value-added benefits may vary by plan.
Description
Johnson Insurance is a well-known insurance company in Canada which offers a variety of insurance products, such as health insurance, dental insurance, etc.
This is one of the best medical insurance companies in Canada, and it is known for its extensive network of health care providers as well as its competitive rates.
Johnson Insurance also offers a variety of value-added benefits, such as travel insurance and lifestyle benefits.
FAQs
What is the best medical insurance in Canada?
The answer to this question depends on your individual needs and circumstances. However, some of the best insurance in Canada has already been discussed in this article. Ultimately, the best plan for you will depend on your specific needs and budget.
How do I find the best medical insurance plan for my needs?
There are a few things you can do to find the best medical insurance plan for your needs. First, you can research different plans and compare their features and prices. You can also talk to a financial advisor or insurance broker to get personalized advice. It's also important to consider your own health needs and budget when choosing a plan. Consider things like whether you have any pre-existing conditions, whether you need dental or vision coverage, and how much you can afford to pay in premiums.
How much does medical insurance cost in Canada?
The cost of medical insurance in Canada varies depending on several factors, including your age, health status, location, and the type of plan you choose. On average, a single person in Canada can expect to pay between $50 and $150 per month for basic medical insurance.
What does medical insurance cover in Canada?
Medical insurance in Canada covers hospital stays, visits to a doctor or specialist, prescription drugs, and some dental and vision care. However, the specific services covered by a plan will vary depending on the plan you choose. Some plans may also include extras like travel insurance or coverage for alternative therapies. It's important to review your policy carefully to understand what is and is not covered.
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Conclusion
Finding the best medical insurance in Canada is a matter of considering your specific needs and circumstances.
There is no one-size-fits-all answer, but by carefully comparing different plans and considering your budget, you can find an insurer that offers the right level of coverage for you.
If you have any questions about your options, be sure to speak to a qualified insurance agent or broker.
You can also use the comment section if you have any questions or suggestions concerning this article. But before that, do well to check the FAQ section to see if any of your concerns have been taken care of.