This page provides information to Canadians about the difference between
group and individual health insurance.
There are two types of health insurance plans available to you: group
or small-business plans and personal plans. If you are not
part of a group plan with your work, or if the company you work for does
not offer sufficient coverage, then you should look into a personal plan
for the well-being of your family.
Group and Small Business Plans
Because employees are the most essential part of any business, many
business owners offer group health insurance to their employees. Grouping
individuals together under a policy generates savings for everyone when
compared to individual coverage.
A group benefit plan could include dental care, medical care, and life
and disability insurance for employees and/or their families.
a group plan to employees has a variety of benefits. Not only does it
ensure the health and safety of all employees, but it also:
- Provides owners with the opportunity to write off premiums as business
- Encourages loyalty and trust amongst employees
- Enables better staff retention because of the security they feel
Personal health insurance plans are necessary if you are not covered
by a business or group plan. You and your family require supplemental
health insurance so that you will be able to receive medical treatment
not covered by your provincial health insurance plan.
Depending on the type of health insurance you choose, and the deductible
you pay, you can receive anywhere between 40% to 80% of
coverage on medical expenses.
These health care expenses include coverage for vision, dental, extended
health, and accidental death or dismemberment.
Learn more about the extended benefits of supplemental health insurance.