Health Insurance Companies in Canada have long been established, yet approximately 30% of healthcare costs are paid out-of-pocket by individuals and families.
Health insurance helps alleviate this financial burden by providing coverage for medical expenses such as doctor’s visits, hospital stays, prescription medications, and more.
Now, choosing the right health insurance company in Canada is crucial for ensuring you and your loved ones receive the best possible care when you need it most.
Canada is home to more than 64 health insurance companies according to Canadian Life and Health Insurance Association (CLHIA).
This might a well be one of the benefits of being a Canadian citizen.
With this in mind, I’ve compiled a list of the top 10 health insurance companies in Canada after thorough review and comparison of policies.
Each company has been carefully selected based on its reliability, coverage options, customer satisfaction, and overall value.
Whether you’re a young professional, a growing family, or a retiree, a good health insurance provider plan can offer peace of mind and financial security in times of illness or injury.
From comprehensive coverage to exceptional customer service, these companies are committed to keeping you and your family healthy and protected.
Use this list to explore the best health insurance companies in Canada and secure your health and well-being.
1. Sun Life
With so many options available, it can be overwhelming to know which of these companies to choose.
Sun Life is a leading financial services company that helps Clients achieve lifetime financial security and live healthier lives.
The company offers three health plans (basic plan, standard plan and enhanced plan), with different levels of coverage.
This allows you to choose a plan tailored to your specific needs.
Sun Life also has an online portal and a mobile app that gives you access to your claims and benefits information even while on the go.
The Sun Life mobile app is available to download from the Sun Life website or your phone’s app store.
Some of the advantages you get with Sun Life health insurance are an easy and fast online quote.
You also have the option of a semi-private hospital room with all plans.
You can also submit a claim online or via the mobile app.
Some of the disadvantages of Sun Life health insurance include the fact that each member of a family must have the same plan.
Additionally, vision and emergency travel medical are not included in the basic plan.
2. Manulife
Manulife is an international financial services group that provides financial advice and insurance solutions for individuals, groups and institutions.
The company offers many health insurance product plans to meet you where you’re at.
Manulife health insurance covers expenses that your provincial healthcare does not cover.
They include prescription drugs, paramedical services, ambulance and nursing services, travel insurance, vision care, etc.
There is also a mobile healthcare app offered by the company that allows you to research drug plans, manage prescriptions and review your claims.
Manulife has seven plans including:
- DrugPlus Basic,
- DrugPlus Enhanced,
- DentalPlus Basic,
- DentalPlus Enhanced,
- ComboPlus Starter,
- ComboPlus Basic, and
- ComboPlus Enhanced;
They are all designed to meet your specific needs.
One good thing is that Manulife allows you to purchase extras to add to your primary plans to increase your coverage.
Insurance companies typically exclude things from plans, such as travel insurance or more serious health problems like accidental death and dismemberment insurance.
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3. Group Medical Services (GMS)
GMS is a non-profit organization that helps people pay their medical bills through health, dental and travel insurance.
They make health insurance easy to buy, easy to use, and easy to understand.
The organization’s private health insurance plans help you take care of your health and wellness so you can focus on what matters to you.
They offer two options including personal health coverage and replacement health coverage to meet your needs.
The Personal Health plan is a GMS medically underwritten health and dental insurance plan with three specific plans including Basic, Extended and Omni.
Each of the core plans has optional coverage added to them such as prescription drugs, and dental and vision care.
The GMS Replacement Health insurance is a plan designed for people who have recently lost their group insurance coverage.
It comprises three plans; EssentialPlan, ChoicePlan and PremierPlan.GMS is a great option because it offers affordable insurance options.
They are also committed to giving back to the community.
The organization has helped different community groups improve health care in their home province through a series of donations.
Moreover, they provide exceptional customer service, a reflection of their core values- caring, easy, positive and innovative.
4. Blue Cross Canada
Blue Cross Canada also known as the Canadian Association of Blue Cross Plans (CABCP) comprises seven regional not-for-profit health and travel insurance providers.
The company provides a range of medical insurance plans encompassing health benefits, pharmaceutical coverage, and dental care with each plan tailored to a specific region.
The company offers health-focused solutions for different groups with specific packages.
Some of the groups covered include self-employed health insurance, small business employees’ health insurance, people without access to group benefits health insurance, student health insurance, retiree health insurance, recent immigrant health insurance, etc.
Blue Cross provides different levels of health insurance (Entry, Essential and Enhanced) for various groups. Now, for these different groups.
The company also has a platform called the “connected care platform”.
This platform helps you to connect with medical professionals online via their website or the Blue Cross app.
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5. Green Shield Canada (GSC)
Green Shield Canada (GSC) founded on the belief that all Canadians deserve better health and the opportunities therein.
The company demonstrates this belief by providing health services directly to underserved communities, to give back $75 million and help one million Canadians by 2025.
GSC offers several plans including Prism Spectra, Prism Continuum, and Prism Precision.
Each of these plans divides into four levels of coverage..
For instance, Prism Spectra has S1, S2, S3, S4, while Prism Continuum has C1, C2, C3, C4, and Prism Precision has P1, P2, P3, P4.
These levels help ensure that there is a plan to suit every budget and every need of different customer groups.
6. Desjardins Insurance
Desjardins Insurance offers a wide range of life and health insurance and savings and investment solutions through their extensive distribution networks.
With Desjardins Insurance, you can create a plan that fits your needs and budget.
The company offers two plans including the basic and enhanced plans.
The basic plan gives you access to some healthcare services such as medical and paramedical care, dental care due to an accident, vision care and travel insurance.
The enhanced plan offers the same coverage as the basic plan but with higher reimbursement amounts including the cost of a semi-private room if hospitalized.
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7. Canada Life
Founded in 1847, Canada Life, the country’s first home-grown insurer, now serves over 12 million clients..
The company offer two types of health insurance Guaranteed Health Insurance and Selected Health Insurance.
The Guaranteed Health Insurance is available to everyone.
You can purchase it at any age without needing a medical questionnaire or examination. It offers less coverage and costs more in premiums.
Selected Health Insurance on the other hand requires your medical history and possibly a medical examination.
It offers slightly lower premiums for more coverage.
Canada Life offers three health insurance plans (Core, Core Plus and Elite), with the choice to add other benefits such as emergency travel medical insurance, major dental, and accidental death and dismemberment.
8. CAA health insurance
In 1913, Canadian Automobile Association (CAA), one of the largest not-for-profit automobile associations in Canada, founded.
It offers insurance packages including life, health and dental insurance plans to provide financial security and peace of mind for you and your loved ones.
CAA health insurance offers both Basic Extended Healthcare and Enhanced Extended Healthcare.
You can get a CAA health insurance quote by visiting the CAA health insurance website and choosing from the available options.
The process will require you to provide details such as your age, sex, and medical history.
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9. Industrial Alliance Insurance and Financial Services
The Industrial Alliance Insurance and Financial Services Inc. founded in 1892 is the 4th largest life and health insurance company in Canada.
They offer several health insurance plans designed to provide coverage for medical expenses and other healthcare-related costs.
Some of the plans include health and dental insurance, critical illness insurance, disability insurance and travel insurance
The specific coverages provided by the company depend on the plan selected.
However, typical coverages may include medical expenses, vision care, paramedical services and emergency medical expenses.
10. SSQ Insurance
SSQ Insurance, a prominent Canadian insurance provider, is known for its range of insurance products and its commitment to innovation and customer service.
The company offers a variety of health insurance plans designed to meet the various needs of its customers.
Some of the key health insurance plans offered by SSQ Insurance include health and dental insurance plans that cover a wide range of medical expenses, including doctor’s visits, hospital stays, prescription medications, dental procedures, and vision care services.
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Final words
This list has provided a glimpse into the top insurance providers in the country, each offering unique benefits and tailored solutions to meet your needs.
Each of these companies dedicates itself to safeguarding your health and financial well-being.
However, this discussion is just the beginning of your journey towards understanding the Canadian healthcare system.
As you seek the perfect insurance plan, remember that knowledge is power.
Stay informed, compare options, and consult with trusted advisors to ensure you find the best fit for your needs.
Thank you for joining me on this journey, and I look forward to giving you more valuable insights and information in the future.
