Personal health insurance - Do I need it?
You may need health insurance if:
- you don't have coverage through your employer
- you're a small business owner with no group benefits
- there are limitations to what your provincial plan covers
As an entrepreneur, self-employed professional, employee or seasonal worker who doesn't have the employee benefits available in many companies, a personal health solution may be what you're looking for to cover dental bills, drug expenses and other medical costs.
Keeping healthy can be costly
Government plans cover only some health-related expenses. The remainder of the cost is up to you. While some people can rely on their employee benefits to help offset additional expenses, there are many Canadians who do not have this coverage.
Providing affordable coverage
In recognition of the growing need for personal health coverage, we offer personal health insurance to Canadian residents. This nationwide program provides affordable coverage for unexpected health problems and emergencies as well as many ongoing health-related needs not covered by provincial and territorial plans.
With personal health insurance you can have the coverage you need -- and you could qualify to claim your premiums and save valuable tax dollars. To confirm eligibility for a tax deduction we recommend you talk to your accountant.
- Individuals who are self-employed and unincorporated may be eligible to deduct personal health insurance premiums as a business expense.
- Health and dental premiums paid on behalf of employees are tax deductible for employers and are considered a non-taxable benefit for employees.