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It is a fact of life that as we get older, we become more familiar with our health care system! Clearly, this means higher costs for both us and our insurance company. Provincial health care coverage does cover some of the cost increase but not all of it, and not all the services that we might require for ourselves or for aging members of our family. This is why senior health insurance is important. Supplemental health insurance is becoming popular among seniors who would like more protection for themselves (other than government medical insurance). The supplemental insurance is a means of extending your coverage and reducing your out of pocket costs. Provincial coverage is partial at best, especially for prescription drugs, preventative medicine and private care. Supplemental insurance provides coverage for the following:
See an example of a supplemental insurance enhanced plan. Anther great benefit of insurance is tax deductions. The premiums are deductible and any eventual benefits you receive are tax-free as well.
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