Health Insurance

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Re: Health insurance: needed or not?

Postby Jo Anne » 07 Aug 2005 22:16

northbeach wrote:I am between jobs where my new part time position does not carry extended health benefits.


Hey Northbeach :)

We don't carry any private health insurance.

When we worked, we considered the private health insurance provided by my husband's employer to be a big bonus.

I look at it this way:

As far as medical and hospital is concerned, I have a doctor, and I can live with ward coverage if I'm in the hospital. Hey, it's free.

As far as drugs are concerned, we don't really need them at the moment. If we did require some drugs, hopefully our doctor would give us some freebies, then maybe we'd get a prescription for cheap generics. I'm not going to break the bank paying for insurance against some unknown future drug requirement.

Everything else (dental, vision, etc) is so infrequent that to insure it seems ridiculous to me.

Brush your teeth every day. Cheaper than insurance.

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Postby northbeach » 08 Aug 2005 13:26

As mentioned in my original post I have I low cost accident insurance through TD. I reviewed its features and benefits and figure is good value and fills a number of gaps not provided by our healthcare system.

The hospital benefit part is what intrigues me most as it gives a dollar figure per day for hospital stay which can be spent in any way by the insured party.

It cost my wife and I about $15.00 per month and we included death benefit options.

The plan has been upgraded since we signed on a couple of years ago and will cost a bit more, but the benefits have been enhanced. We will probable upgrade.

Still best to keep healthy and as Jo Anne says brushing ones teeth is a cheaper form of insurance. Now if I would only floss ... and lose some weight ... and ...

Thanks FinEcon for your post. I live in Ontario in The County (where all good folks live). I agree private individual extended health insurance does not make sense.
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health insurance, seniors get dinged.

Postby tedster » 28 Mar 2006 11:02

I am 70 and a retired Professional Engineer. As such I have always pruchased my health insurance from the Gorup Policy supported by the Canadian Engineers. This is currently with Manulife. My policy is due for renewal soon. They have sent me a letter informing me that the premium is going to be increased by 15%. Ouch. For me, living in Quebec, (covered and paying for the Provincial Plan as well) without any drug coverage the premium is going to be almost $1500


Anyone have any suggestions?
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health insurance

Postby tedster » 28 Mar 2006 11:11

I am 70 and a retired Professional engineer. As such I have always been covered for health using the Canadian Council of Professional engineers group health policy now administered by Manulife. Of course, living in Quebec, and being over 65, I have to pay the Province a premium for health insurance as well.

Manulife has just sent me a letter saying that the premium will go up by 15% for my age group. A total of $1500 This does not even cover drugs. Ouch!

Anyone have any useful suggestions.
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Postby arthur » 28 Mar 2006 12:10

tedster, if you don't get drug Coverage, what are you buyng that is not provided by Public Health??

You wil soon get to an age where you may not be able to buy Health Insurance.
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Postby mike » 28 Mar 2006 12:25

Shop arond. You are in reasonably good health as I recall from our supper a while back. I also think you are a non smoker.

You just might get a better rate but honestly do not expect significant savings. I was in the life assurance field for 12 years. IIRC it is much like the gasoline retailer: Virtually no competition.

Bonne chance.
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Re: health insurance

Postby Bylo Selhi » 28 Mar 2006 12:47

tedster wrote:Anyone have any useful suggestions.

Check around. My parents (dad's also a retired P.Eng) use Blue Cross. CARP offers group plans as well. Your university alumni department probably also offers a plan administered by Manulife or Desjardins, etc.
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Postby tedster » 28 Mar 2006 13:14

Hehe, Blue Cross site says that anyone over 64 is not eligible. I am studying McClennan at CARP.
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Postby gyrfalcon » 28 Mar 2006 13:58

Be very careful RE the rules on "existing conditions". It would be unusual, at your age, to truly have none. I stand to be corrected, but in most cases I think there's only one plan that will cover "existing conditions" for the 'first' 6 or 12 months, and that's the one you're in now. :wink:

[Don't own MFC directly, etc. etc.] gyr.
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Postby tedster » 28 Mar 2006 14:00

Yes I agree. Seems that although they have us by the U Know Whats, they are pretty competitve. for want of a better expression. Actually, except for a little arthritis, I am quite hale and healthy.
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Postby Bylo Selhi » 28 Mar 2006 14:03

tedster wrote:Hehe, Blue Cross site says that anyone over 64 is not eligible.

Verrry interesting. My parents are ~20 years older than you are. Then again, they never had health insurance through their employer so they must have got in before BC imposed that restriction.
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Postby tedster » 28 Mar 2006 14:14

Yes Blue Cross have an on-line quote page, so I went through the whole thing and was rejected. :((( I suppose if I had subscribed when I was 60, I would still be eligible for coverage.
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Postby sayhey » 28 Mar 2006 14:46

Ted. I'm with Howard, I don't see why you need the mfg policy,especially if it does not cover drugs.

In BC I pay$96.00 monthly for standard medical (this doubled when the so called liberals came to power) then I pay another $77.00 monthly for extended health,which covers drugs etc etc...I would drop the latter but it's tied to a dental plan so I have to keep them both.
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Postby DenisD » 28 Mar 2006 15:47

There's www.CoverMe.com Don't know anything about them other than ad's on TV.
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Postby Arby » 28 Mar 2006 15:47

You could also try the CAA health insurance plan. Not sure if it's offered in Quebec. The CAA plan in Ontario is administered by Manulife.
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Postby arthur » 28 Mar 2006 15:58

Reality is you may be paying for Private or Semi Private Rooms, but if there isn't one avaialble, and that is likely, you will go into a Ward anyway.
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Postby Casual Investor » 29 Mar 2006 17:30

Does this cover critical illness or long-term care or do you have that covered off with other (equally costly) policies? Maybe you don't need life insurance any more if the dependents have left thee nest and you have plenty of assets to self insure.
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Postby adrian2 » 12 Apr 2006 12:33

DenisD wrote:There's www.CoverMe.com Don't know anything about them other than ad's on TV.

Offered by Manulife -- Ted mentioned that he's insured with them and unhappy about a 15% annual increase.

I've looked at what CoverMe offers and IMO it's overpriced. Unless you know you're going to use most of the benefits, why bother? My family does not have anything else but the provincial coverage. In the words of the CoverMe commercial: "extra health care could cost you thousands of dollars a year ... CoverMe starts at only a few dollars a day". I guess too many people did not excel at math.
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Postby uhoh » 13 Apr 2006 21:48

I'm about to lose my extended health plan (well, that, and my job) and I really get a lot of use from it - chiropractor, naturopath, massage therapy, denist, glasses - I mean, a *lot* of use.

I was wondering what's out there for private plans - I'm about to be quite poor for a while and really don't want to give up on my regime.

The CAA has a "follow me" plan that will allow me to sign up (manulife, I think) within 60 days of losing my coverage, without a medical or without exclusions. I take BP meds and don't want them excluded until I can get that under control naturally.

anyone else run in to this or find a decent private plan?

thanks,

u
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Postby treetops » 14 Apr 2006 09:07

The "follow me" plan sounds like your best bet initially.

When/if it runs our, consider insurance that may be provided by associations you belong to/could belong to or other affinity groups that you may be part of. Examples would be associations for professionals or other occupations, alumni associations, churches, Chambers of Commerce, CAA, CARP, etc.

P

<added> if you're in Ontario, ask your pharmacist about the Trillium Programme for drugs. It's geared-to-income, which seems to apply to your situation for the short term.
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Health Insurance

Postby sugarbear » 09 May 2006 14:01

Hi - I'm looking for some health insurance information on behalf of my parents who are approaching (semi-early) retirement and will no longer have access to their employer's plan for health care (prescription drugs, eye care, dental, etc etc). They would like to get some coverage but the array of choices is a bit bewildering for them.

I'm hoping some here will be able to make some suggestions/recommendations regarding their experiences or even suggest a plan or company that might be a starting point for their search.

Some relevant details (might be missing some):
1. they are in their late 50's. Father self-employed and will retire within 12 months when business is sold, mother retiring in next 2 months.
2. It appears that they only need insurance for the next 7-8 years until PharmCare kicks in at 65 (Nova Scotia).
3. father has several Rx's that would cost ~1800 per year if he had to pay out of pocket (blood pressure, cholesterol, etc). Some (all?) plans they have seen will not cover the pre-existing prescriptions.
4. mother is in good health and no ongoing prescriptions.
5. of greatest importance to them right now is drug coverage...eye care and teeth are not a concern as they can afford to pay out of pocket.

Thanks,
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Re: Health Insurance

Postby uhoh » 09 May 2006 18:17

sugarbear wrote:Hi - I'm looking for some health insurance information on behalf of my parents who are approaching (semi-early) retirement and will no longer have access to their employer's plan for health care (prescription drugs, eye care, dental, etc etc). They would like to get some coverage but the array of choices is a bit bewildering for them.

I'm hoping some here will be able to make some suggestions/recommendations regarding their experiences or even suggest a plan or company that might be a starting point for their search.

Some relevant details (might be missing some):
1. they are in their late 50's. Father self-employed and will retire within 12 months when business is sold, mother retiring in next 2 months.
2. It appears that they only need insurance for the next 7-8 years until PharmCare kicks in at 65 (Nova Scotia).
3. father has several Rx's that would cost ~1800 per year if he had to pay out of pocket (blood pressure, cholesterol, etc). Some (all?) plans they have seen will not cover the pre-existing prescriptions.
4. mother is in good health and no ongoing prescriptions.
5. of greatest importance to them right now is drug coverage...eye care and teeth are not a concern as they can afford to pay out of pocket.

Thanks,
Sugarbear


I'm in a similar situation - lost my job when the office closed and I want to continue my insurance without having to have a medical and having exclusions put on my insurance.

So far, and I've not been able to devote much time to this, I've found that the CAA offers a Follow Me plan (with Manulife) that will take-over after another plan discontinues - you have to register within 60 days. I find it quite expensive which is why I've not commited to it yet - maybe others have better suggestions.

check out their website (this is for Ontario region - I'm sure NS has similar): http://www.caasco.com/insurance/health.jsp
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Postby Scanman » 09 May 2006 18:46

My wife and I have our health coverage with GreatWest Life. the cost seems reasonable and we are quite satisfied with their service.

They have three levels of coverage and we found level two met all our requirements.
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Postby steves » 09 May 2006 19:38

I don't know why someone/agency/public health body hasn't stepped up to this issue with a web site which asks something like... 'my parents lived well into their 90s with no heart/cancer/diabetes problems but had huge dental grief... what is a good health plan which is strong on dental but not so strong on medical.' Or.. 'I use xxx,yyy,zzz drugs consistently, what is the best plan for my drug use' patterns.

I would pay good money to click onto that site. Having just had an $800 dental bill (2 extractions) in which my carrier (BlueX) covered just $70, I am a somewhat annoyed.
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Postby uhoh » 09 May 2006 21:25

steves wrote:I am a somewhat annoyed.


yes, makes me want to buy insurance company stock - i was livid when I found out that I'd no longer be covered (ie I'd be excluded) for a very minor thing if I don't leap from one group plan immediately in to another. Hmm, definitely need to buy stock in one of those companies. There's no way they're gonna lose $ with those rules :evil:
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