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What you need to know about medical insurance in Ontario

As Canadians, we are fortunate to receive health care coverage through our government health program. We don’t have to worry about paying for basic medical care, doctors’ visits when we fall ill or emergency care if something unforeseen occurs. However, there are limitations to the amount of coverage that is provided.

Any costs beyond what the Ontario Health Insurance Plan (OHIP) covers are an out-of-pocket expense if you do not have private medical insurance or group insurance through your employer.

Why you need private health insurance if you live in Ontario

Many Ontarians assume that OHIP provides them with adequate coverage. Some assume that because they are young and healthy, they don’t need additional private medical health coverage. However, it’s this type of thinking that could find you paying out of pocket for health care.  You are better off taking a proactive approach by signing up for additional health insurance now, even if you have a clean bill of health.

Not everyone is fortunate enough to have group insurance through their employer. Whether you are self-employed, retired or new to Ontario, private medical insurance will help cover the costs that are outside the scope of OHIP coverage.

Medical insurance provides financial security

One of the most overlooked benefits of medical insurance in Ontario is the financial security it provides to individuals. There is only so much coverage you will receive from the provincial government, and without a good private health insurance plan, you will have to pay out of pocket for any health care, medication and treatments that are outside the scope of OHIP coverage.

For example, physiotherapy treatment is not covered by OHIP. And, did you know that OHIP does not cover the full cost of ambulance services? Many other types of treatment, such as homeopathy, acupuncture and chiropractic care are also not covered.

Private health insurance helps to mitigate these costs, providing you with a sense of financial security, something that can also help to improve the quality of your life.

Given how flexible and affordable medical insurance is in Ontario today, not to mention how easy it is customize coverage to meet the specific health care needs for you and your family, it’s something that you should at least give serious thought to. Considering it costs you nothing to get a quote, it is well worth your time and effort.