Health care insurance in Canada Finance Risk Management Assignment
Health care insurance in Canada Finance Risk Management Assignment
Many people believe that most healthcare systems are better in other countries besides the United States. The
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United States may have better access, but many think it is too expensive or too hard to get, especially with a pre-existing condition. One country for example with “free” healthcare is Canada. Their healthcare is a single-payer system, but it is up to each territory to choose what is covered, or the rules of the care in that specific area. One upside is that all necessary healthcare has to fall under the public plan, examples being surgery, dentistry, hospitals and doctors. In Canada, doctors are private providers, not government employees, so they charge patients and insurance plans themselves. This can be a positive or a negative, because it may be cheaper, but not as regulated as when the government choose what to charge across the board. There are pros and cons to a non-government regulated healthcare system, but is it really better than the United States? on https://www.aimseducation.edu/blog/us-vs-canadianhealthcare-differences/ Canada has a universal healthcare system, which means if you are a Canadian citizen or permanent resident, you can apply for public health insurance, which in turn means residents do not have to pay for most health care services. Each territory has their own plans, and what is covered under these plans, so depending on which territory people occupy, regulates what is considered free. A perk being that no matter which territory in the country, or even if the patient is not a Canadian citizen, emergency medical services remain free. A downside being that if a individual moves to Canada, or to another territory it can take up to 3 months to have health coverage. https://www.canada.ca/en/immigration-refugees-citizenship/services/newimmigrants/new-life-canada/health-care-card.html While most medical problems can fall under the free public healthcare, there can be gaps depending on the territory. Prescription drugs, care for a chronic serious medical condition, home medical equipment and certain doctors may not be covered under the public health plan. Private health insurance may need to be considered to go along aide the free public healthcare to make up for the other expenses that could have to be paid for out of pocket. Employers may offer extra health insurance, but if not, residents may have to consider a private company. Private companies in Canada mirror health insurance plans in the United States, there are different tiers to choose from depending on what an individual wants to pay. https://www.sunlife.ca/ca/Insurance/Health+insurance/Personal+health+insurance?vgnLocale=e n_CA A negative with Canadian healthcare is the wait times patients have to experience to see a provider. Since general healthcare is free, depending on the service or territory, wait times to see a provider can be excessive especially if the surgery or service is elective. In the United States the average wait time to make an appointment can range up to two weeks, in Canada it doubles to four weeks or more to wait to see a doctor. In 2005 Canada took this date and started making changes trying to change this issue, getting patients into doctors more efficiently and in a timelier manner. https://www.washingtonpost.com/news/wonk/wp/2012/07/01/everything-you-everwanted-to-know-about-canadian-health-care-in-onepost/?noredirect=on&utm_term=.5c190e7264e4
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