How to Choose a Health Insurance Plan for Your Family

Protecting your family’s health is one of the most important things you can do. That’s why we provide flexible health insurance plans tailored to meet your family’s unique needs and budget. Our coverage ensures access to a wide range of health care services and offers financial protection in the event of illness or accident. Choosing health insurance is a wise investment in your family’s well-being.

 

Why Do Families Need Health Insurance? 

While the Ontario Health Insurance Plan (OHIP) covers some essential health care costs, there are several services it doesn’t include:¹ 

• Services from certain health professionals (like physiotherapists, psychologists, or chiropractors) 
• Dental care 
• Vision care 
• Certain prescription medications 
• Medical equipment (such as hearing aids or mobility devices) 

Even with OHIP coverage, your family may have unexpected medical needs that could lead to high out-of-pocket costs. Health insurance can help fill these gaps by covering additional expenses not paid by OHIP. 

Some employers offer group health insurance that covers services not included in OHIP, but not everyone has access to these plans. Personal health insurance is an excellent option for families looking to ensure comprehensive health care coverage beyond what’s publicly available.

 

Why Should a Family Buy Health Insurance If They Have Few Medical Expenses? 

While tax credits for medical expenses can be helpful, they often have limitations. They only reimburse part of the costs, and only if your expenses exceed a certain percentage of your income. With personal health insurance, you can receive more reliable coverage. 

Although health insurance may not cover 100% of your medical costs, many plans reimburse up to 80% of eligible services,² making it much more cost-effective than paying out-of-pocket or relying solely on tax credits. 

Many families underestimate the actual cost of health care. Even if your family doesn’t face major medical expenses, regular prescriptions, dental visits, or unforeseen treatments can add up quickly. Over time, the total out-of-pocket expenses might surpass the cost of an individual health insurance plan. 

Having a personal health insurance plan allows you to manage a predictable monthly cost while protecting your family from unexpected medical expenses. It’s a proactive step toward securing your family’s health and finances. 

How to Choose the Right Health Insurance? 

Choosing the right health insurance plan for your family is a critical decision. Take your time to evaluate your options and find a plan that best meets your family’s needs. 

Understand your coverage 

• Review OHIP coverage: Start by understanding what OHIP covers. This will give you an idea of the gaps in your coverage. 
• Assess your needs: Ask yourself: 
  • What health services or treatments might benefit your family? 
  • Are there any services not covered by OHIP that you might need? 
  • How do you foresee your family’s future health care needs? 

Choose the right coverage 

• Consider your family’s health: Your current health status and any future concerns should guide your decision. 
• Think long-term: It’s generally better to purchase insurance while you’re healthy, as you may get more options and lower premiums. 
• Evaluate coverage levels: Make sure the plan you choose aligns with both your current and potential future needs. Look at factors like deductibles, co-payments, and coverage limits. 

By considering these factors carefully, you can make an informed decision and choose the health insurance plan that offers the best coverage for your family.
 

Key Considerations When Choosing Health Insurance 

1. Pre-existing conditions: If a family member has a pre-existing condition, ask your insurance provider about any limitations or exclusions. 
2. Future health needs: Think about your family’s current and potential future health care requirements. Our plans offer flexible options, including Entry, Essential, and Enhanced coverage, to adapt to your evolving needs. 
3. Cost vs. coverage: Weigh the cost of your insurance against the level of coverage it provides. While lower premiums may seem attractive, they often come with less comprehensive coverage. Consider paying more for broader coverage if it benefits your family. 
4. Exclusions and limitations: Carefully read your policy to understand what’s covered and any limitations or exclusions that may apply.
5. Customization options: Personalize your health insurance to meet your family’s specific needs. An insurance advisor can help tailor a plan that fits your situation. 

 

Every family’s health care needs are different. Selecting the right coverage ensures your family’s financial security and well-being in case of unexpected medical expenses. Get a personalized quote online to find the perfect plan for your family.