What is health insurance?

Health insurance is by definition a way to protect your health and that of your family. It is a type of insurance intended to protect people in an emergency medical situation.

You should know that the insurance industry is made up of individual companies and organizations. It offers you comprehensive protection against financial losses.

Thus, the Quebec health insurance system offers several coverage options, including:

• Public health insurance
• Private health insurance
• And supplementary private health insurance

It is therefore important to examine all your options in order to find the health coverage best suited to your needs.

Basically, health insurance is a variant of personal insurance. This is a contract between an individual or his employer and the insurer. The insurer thus undertakes to cover medical costs directly linked to the health problem for which they are covered.

However, polls show that at least one in four Canadians, and as many as four in five, think they don't have enough money to cover the cost of a $1 medical emergency.

Indeed, health insurance is often expensive in addition to requiring a lot of administrative procedures. It is therefore important to know your options. By doing research, you can easily find the best solution for your budget and healthcare needs.

In short, health insurance is a contract whose purpose is to cover all or part of health expenses relating to illness, accident and maternity, in the event that these are not covered by compulsory health insurance. , the RAMQ card.

When the costs of your health insurance exceed those covered by the province, you will be required to cover the excess. Therefore, after your hospital visit, you may want to purchase medical equipment, such as crutches or a splint, and hire medical professionals, such as massage therapists.

Overall, we can say that the role of health insurance is to cover reimbursements linked to health expenses which are not considered by the RAMQ.

Overall, health insurance allows the insured to receive decent reimbursement for their health expenses including prescription drugs, hospitalization, doctor's consultations, optical expenses and even rare healthcare expenses, including surgery. 

Do you know what your health insurance covers?

What is covered by health insurance varies from person to person. Depending on your age, the coverage options offered could include:

• Dental care ;
• Serious diseases ;
• Complementary illnesses;
• Prescription drugs;
• Medical equipement ;
• Disability Insurance ;
• Semi-private hospital rooms;
• Vision care;
• Physiotherapy;
• Massage therapy;
• Travel insurance ;
• Home Care ;
• Etc

Health insurance is in reality a coverage offering the advantages of a provident insurance collectivee, but with the flexibility of personal insurance.

However, we should not forget that health insurance is important for people of all ages from birth. As we age, our insurance needs increase. Health insurance is supposed to both protect us and our families. 

So, it is important to go out and purchase a health insurance plan that best suits our needs.

It is clear that we all want to be healthy and live as long as possible. For this, there are many types of health insurance that can cover different aspects of healthcare throughout our lives. A hospitalization insurance policy is the most common health insurance for people who are hospitalized. It helps cover hospital stay costs. 

However, the most popular health insurance policies are those that protect against all medical expenses not covered by other types of medical insurance.

Health insurance costs may qualify for a tax credit. It is therefore important to keep payment receipts and proof of reimbursement for your healthcare.

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Besides, here's what our star advisor says:

“…When I talk to people about their health coverage, it is important to me to first let them know if they are insured.

• One of the first things I ask is, “Do you have health insurance?” » If they answer yes, then I ask them if they are insured by an employer or by RAMQ or a private insurer.
• Then I ask how much they pay for premiums. When they tell me what they pay for their premiums, I ask them what the deductibles are, because that tells me how much they will have to come up with before their insurance kicks in…. ". 

Types of health insurance

Like Japan and Switzerland, Canada is one of the few countries in the world that has a universal health system. Canadian provinces and territories administer and regulate the health insurance sector and each decides on its own principles and priorities regarding coverage and financing.

Quebec has a public system which is administered by the Régie de l’Assurance Maladie du Québec (RAMQ). Its goal is to provide health care to all its residents, thus providing a universal service.

However, knowing that health insurance represents the best way to take care of our health, it can be difficult to find a policy that suits your needs.

• Do you want a plan that includes dental coverage, drug coverage or children's coverage?
• Do you need a plan that also covers mental health or substance abuse?
• Do you need a plan that has a low deductible, a low cost to you, or a low maximum amount?
• How about a plan with no waiting period?

Depending on what you are looking for, here are some examples of the different types of insurance available to you:

• Dental insurance : which covers the costs of dental care;
• Drug insurance : which provides protection for prescription drugs;
• Hospitalization insurance : which covers the costs of hospital care if you are hospitalized due to illness or injury;
• Optometry insurance : which provides vision care examinations and consultations, as well as the supply of glasses and contact lenses.

There are also several other types of classification. In particular:

1. The first type of health insurance in Quebec is RAMQ. This is the Quebec Health Insurance Plan which is aimed at citizens of Quebec. You can subscribe to it from the RAMQ website or by contacting your local RAMQ office. The Régie de l'Assurance Maladie du Québec is responsible for the administration of health care in Quebec's public hospitals.
2. The second type of health insurance in Quebec is the national public drug insurance plan.. This diet provides coverage for the cost of prescriptions and other medical supplies that are not covered by private drug plans or provincial and territorial drug plans. The program is administered by the Canadian Department of Health.
3. The third type of health insurance in Quebec is private insurance. This involves addressing you to a private insurer to get insurance that covers all your healthcare needs.

In principle, you have the choice between a private plan, a public plan and a mixed public-private plan.

• Private insurance plans are simply designed to cover the costs of your medical expenses.
• Public plans are designed to provide protection against the cost of necessary medical care, but you will need to cover the cost of services not covered by the public plan.
• Finally, mixed public-private insurance plans are those where both parties will share the cost and delivery of their services.

In Quebec, you can choose from four different types of private insurance plans:

• Personal health insurance (medical care and dental insurance)
• THEcritical illness insurance
• THEDisability Insurance
• Long-term care insurance

Another form of classification of health insurance concerns individuals and businesses, especially :

• Individual health insurance
• Family health insurance
• Health protection for entrepreneurs 
• THEhealth insurance for students

Our conclusion: What is health insurance?

Health insurance is an important way to protect you and your family from unexpected medical expenses.

It can also help you get the care you need to stay healthy and prevent or treat health problems before they get worse.

There are many types of health insurance plans, so it's important to choose one that meets your needs and budget.