Finding Your Fit
There are three main categories of health insurance plans available to individuals in Canada.
1. Medically Underwritten Plans
These plans ask a series of medical questions.
- Pros: They offer the highest coverage limits (e.g., $5,000/year for drugs) and the lowest premiums.
- Cons: If you have pre-existing conditions, you might be declined coverage for those specific conditions (or declined altogether).
- Best For: Healthy individuals with no major pre-existing conditions.
2. Guaranteed Issue (Association) Plans
These plans have no medical questions or very few simple ones.
- Pros: Acceptance is guaranteed, regardless of your health.
- Cons: Coverage limits are often lower (e.g., $500/year for drugs initially), and premiums can be higher.
- Best For: People with pre-existing conditions who need basic coverage.
3. Conversion Plans (Follow-Me)
These are designed for people leaving a group benefits plan (e.g., changing jobs or retiring).
- The Widow: You must apply within 60 or 90 days of leaving your group plan.
- Pros: No medical questions asked. You are guaranteed coverage because you are "converting" your previous coverage.
- Cons: You must act fast. If you miss the window, you have to apply for a medically underwritten plan.