Contemplating the skyrocketing cost of travel health insurance is something he finds sadness in. The 72 year old retired physician says that it makes his heart sinks. It will be difficult for you to enjoy a retirement that you think you have earned if you are working on a fixed income. This physician retired from the civil service six years back and then he spent winter in Barbados with his wife. Like many seniors, he is upset over changes in health insurance for the so called snowbirds, retired Canadians who spend winters in warmer climes.
The decisions made by may credit card companies to restrict benefits for card members not to mention the changes in Ontario’s health insurance program have put a squeeze on national travel health insurers. Jumping dramatically in this case are the rates including a six month coverage for a couple over 60 costing as much as $5,590 or more with a $2,000 deductible. In this case, seniors in Manitoba responded by forming a travel health insurance committee and Ontario’s changes have driven health insurance costs through the roof according to their chairman.
A popular product which was a policy that topped up such credit card coverage was lost as a result of the change according to the manager of the individual health sales at a Manitoba insurance company. Throughout Canada, shockwaves were sent through the health insurance business many years ago because of the changes in Ontario which were similar to changes in Manitoba, she said. When it comes to the restrictions by the Manitoba Health Services Commission, no government coverage will be received by people who have been out of the province for more than six months and this affects coverage from private insurers.
He said having lived here for more than 40 years; he feels he should be able to spend the winter away. Calling airlines for departure and arrival dates, even if this seems rather excessive, he said that the Manitoba Health Services Commission really clamped down. Travel to a warmer climate carries a greater significance to the doctor, who has had hip replacement surgery and relishes the mobility an absence of snow offers.
A free ride is not what he is looking for in this case. Aside from living here during the summer, he spent the better part of his career in Manitoba, and he pays federal, provincial, and municipal taxes. Whenever you travel, you should carry health insurance coverage because if you end up with a broken ankle you may end up paying $15,000 for it. It should be clear what treatments are excluded from coverage and what benefits are included in this case. In this case, including the cost of private insurance, the balance is eligible to be claimed on income tax as a medical expense if the total medical expenses exceed three per cent of net income or $1,570 whichever is less. What is important is that you know the distinction between insurance with a deductible and co-insurance. Under most co-insurance plans the insurer will pay 80 per cent of a total claim, while the client will pay 20 per cent of the total claim. Considering the Manitoba Health Services Commission, if Manitobans undergo treatment abroad, the commission pays for the cost of the procedure considering the prices charged in Manitoba and the traveler picks up the difference.