How to cover the health care insurance gap

Facing the age-related challenges of individual care costs 

Many people believe the government will take care of their age-related medical problems, but that isn't necessarily the case. In fact, we may be facing a very different health care situation in the future.

As Canadians live longer and millions of them are heading into longer retirements, our health care system is going to face some critical challenges. And to meet those, governments are expected to transfer more and more health care costs back onto the individual. Ensure you and your parents are fully covered for everything they'll need.

Small things add up

We're lucky to live in a country with a strong health care system. Yet despite its many benefits, there are growing coverage gaps. While trips to the doctor or the hospital are taken care of, costs for services seniors need regularly may no longer be funded by government systems.

Cuts might include vision care, x-rays for weakening bones, podiatrist visits for foot issues, hearing tests, fittings for hearing aids, dental visits, and certain prescription drugs. Routine expenses can add up quickly, especially for seniors on fixed incomes. In addition, there are unplanned events, like a sprain that requires physiotherapy or special equipment. That's why it’s important to fill in the coverage gaps with insurance.

Examine current coverage

The first step is to find out what kind of health care coverage your parents currently have. Knowing your parents' current and possible future health concerns will help you develop a fuller picture.

If your parents are on a group plan, their coverage may cease as of a certain age. If they have already have extended health care insurance, get a copy of their plan and go over it carefully to find out what is and what isn't covered.

The next step is to learn what your provincial plan and PharmaCare pay for, especially in the light of potential illnesses or conditions your parents may face. This will include registering for the BC Fair PharmaCare plan, which subsidizes the cost of eligible drugs and medical supplies.

Get some expert advice

Take advantage of the opportunity to talk to a BlueShore insurance specialist to find out what options your parents (or you) may want to consider to fill any gaps in your extended health care coverage.