Your Health is Your Most Important Asset¶
Are you an independent contractor? Do you work at a company without a benefits plan?
Individual health and dental plans can help fill the gaps in provincial coverage and provide you with the protection you need, including dental care, eye care, prescription drugs, massage, physiotherapy, and travel insurance.Request a Consultation Ask for Your Quote Today
Why Invest in Private Health and Dental Insurance?¶
Having your own health and dental insurance plan will give you more control over your physical and financial health.
Filling in the Gaps¶
According to the Canadian Institute for Health Information, Canadians relied on the private sector (mostly insurance or out of pocket) for over 25% of their health care needs in 2021.
We have a wonderful health care system in Canada, but it has many gaps, most importantly dental care and prescription drugs. Further, Canada’s health care system is evolving from hospital care (where drugs are paid for) to home care (where paying for drugs may be your responsibility).
It’s Important to Get the Health Care You Need¶
For some Canadians with a large number of important expenses, health care is sometimes sacrificed. For example, if someone is concerned about funding their retirement and paying for their children’s education, they may avoid getting dental work that may prevent future suffering.
One Day, You’ll Retire¶
It’s a fact of life that as we age, we start needing services like physiotherapy and prescription drugs — even if we live a healthy lifestyle. The younger you are, the easier it is to get the kind of coverage that pays off in the long run.
For example, while provinces cap drug costs for people over the age of 65, there are many drugs that aren’t covered. That can have a big impact on your finances, especially when you’re on a fixed income.
Premiums May Be Tax-Deductible¶
You can deduct your premiums on your federal income tax as part of the Medical Expense Tax Credit (METC), as long as 90% or more of the premiums paid under the plan are for eligible medical expenses. Eligible expenses include dental and vision care, and prescription drugs, but unfortunately not massage or physiotherapy.
Why Talk to Palladium Insurance?¶
The experts at Palladium are here to guide you to the options that make sense for your unique situation. As independent brokers, we don’t just represent one insurance company, we have connections with many.
We shop the market on your behalf to find the best options for the coverage you’re looking for. Best of all, we help you understand your coverage so that you’re protected the way you want to be.