Individuals without health and dental benefits are subject to expensive fees for certain treatments. These costs are magnified when they involve a family. Most employers offer a taxable benefit program to partially offset these expenses however certain business sectors do not. And, it is rare that company benefits will cover all of the costs associated with healthcare and dental treatment.
Provincial Health Plans do not Cover Everything
Even though the provinces of Canada are among the world leaders for providing health care benefits for their citizens, several treatments are not covered or have been eliminated over the years. For instance, Pharmacare1, British Columbia’s health insurance plan does not cover many of our simple necessities such as prescription eyeglasses, wheelchairs or hearing aids. For those that do not have employee funded benefits, these costs can add up quickly.
In Ontario, one third of employees2 do not have any employer funded benefits and the majority are low income workers that make it doubly hard to afford their basic needs. A study conducted by the Wellesley Institute revealed that ‘the vast majority of those in precarious or low-wage jobs do not have employer-provided health plans and are sometimes ineligible for government funded benefits’. Steve Barnes, Policy Analyst at Wellesley says, “We know that not having access to those services can have significant health impacts.”
Health and Dental Coverage is Available and Affordable
Affordable coverage is available for those who are retired, unemployed, employed without benefits, self-employed or just in need of supplementing their current coverage. Insurers are usually flexible in taking your individual requirements and building those into your policy. A few of the core benefits available are:
Extended health benefits including occupational and physical therapists, hearing aid devices, home-care and other healthcare benefits
Life insurance as well as short and long-term disability coverage
If you already have a benefit plan through your employer or an insurer, approval for extended health care benefits are usually automatic. In some cases, a medical questionnaire must be completed prior to approval.
Extended Healthcare and Dental Benefits that Suit your Budget
A family of four can obtain extended health and dental benefits for a rate that would be a fraction of their monthly grocery budget. Considering twice a year visits to the dentist and unexpected illnesses, even those on a limited income can realize significant savings annually with extended health and dental coverage.
Provincial coverage can no longer afford to provide health assistance for many treatments that we used to take for granted. An extended health care insurance plan can relieve many unexpected expenses and provide peace of mind for you and your family.
Mutual funds and segregated funds provided by the fund companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. All other products and related services are offered through Brian Fitzsimons/Fitzsimons Financial.