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Individual Health Insurance in Alberta For Retirees, Self-employed And Families

"Nereida Devito" (2020-07-30)


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Is your health coverage through your job not enough for your needs? If this is a problem you're experiencing below is a simple guide to help you understand your maze of individual health care insurance options.

Challenges With Individual Health Insurance in Alberta

If you had four workers who were self employed, one family with small children, and one friend who recently retired, how would their situations compare with respect to health insurance?

They'd all probably like to have additional insurance beyond Alberta Healthcare, but they don't know where to start looking because individual health insurance isn't a popular topic in the news. Albertans tend to focus on the government health system, more so than private insurance; however, a large percentage of people have extended medical coverage through unions or their employer.

When Albertans don't have coverage through work, another option is a group health insurance plan not based on employment, such as though automobile, professional and alumni associations.

A future challenge is that with baby boomers retiring and the rise of self-employed individuals, more Albertans will eventually put out of pocket for extras.

Health Insurance in Alberta - What's Covered?

Everyone in Alberta is covered for doctor's visits, hospital care, and diagnostic tests and these costs are covered largely by the taxes Albertans pay to the government.

Health Insurance in Alberta - What's NOT Covered?

These services are not covered: dentists, 태아 보험 필요한가 prescription drugs, private hospital rooms, eye exams, cosmetic surgery, psychologists, counsellors, physiotherapists, and tests required for driver's licences, insurance and immigration papers.

Since these are expensive services, an individual health insurance plan is definitely a financial benefit.

Ways to get Individual Health Insurance in Alberta

As we talked about in the beginning of the article the recently retired person can see about converting their employer-based health plan into individual insurance.

The self-employed and contract workers might be able to deduct dental and health premiums from their income at tax time. Another more viable option would be to look into a Health Spending Account (HSA).

An HSA is a benefit administered by Revenue Canada. It allows your business to reimburse you for out-of-pocket healthcare expenses. These reimbursements are 100% tax free and tax deductible for your company.

The spending account can be used for a number of health services.

The friend with a young family can look into a family individual health insurance plan in Alberta by speaking with an insurance broker. Unlike an employer based policy, the policyholder can decide what coverage to get: a basic plan, a plan with extended coverage or a mixture of both.

If the family has health coverage through work, they have the option to top-up their plan with individual health insurance in Alberta.

If you're looking for individual health insurance in Alberta we can help. For more information about this type of insurance or to discuss your needs, go to our website and speak with an insurance broker.








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