 
- April, '09 Grey Matter in Load Securement Claims
- January/February, '09 Alternatives to WSIB Impacting profitability Part 1
- January/February, '09 Alternatives to WSIB Impacting profitability Part 2
- December, '08 Increasing Sustainability and Profits with Proper Coverage
- December, '08 Health Insurance Matters
- November,'08 Recession Proof Investing
- November, '08 Alternatives to WSIB
- October, '08 Alternatives to WSIB
- September, '08 Health Insurance Matters
- August, '08 Survival of the Fittest
- July, '08 Operational Efficiencies and Professional Due Diligence Saves Millions
- June, '08 U.S. Leads the Way with Income Protection
- May, '08 The Myth of Social Programs
- April, '08 New Player on the Block
- February, '08 Drug Coverage – Cash Is No Longer King
- January, '08 Owner Operators – Now Is The Time To Stand Up For
- December, '07 Who really needs long-term care?
- November, '07 Money Management 101 No Pension, But Lots Of Coffee
- October, '07 Healthy Pocket Book with Extended Health Care Coverage
- September, ’07 Steel Industry Initiates Acceptance to Alternatives to WSIB
- August, '07 The Domino-Effect – Don’t Get Caught
- July, '07 Workplace Safety & Private Insurance
- May, '07 Alternatives to WSIB and WSIB
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Healthy Pocket Book with Extended Health Care Coverage
Benefits Builds Driver Retention
By Lina Demedieros
As a specialist in the transportation industry, we have seen many companies eliminate benefits to Owners Operators. Why? Expenses and increasing rates. Rates increase for various reasons. Some include expensive drugs, high dispensing fees, ages of individuals within the group etc. This has a definite impact on companies making group health care expensive, while other transport companies sustain benefits but reduce overall coverage. So what do you do? Buy your own.
So what should you buy? What offers you the best value? Extended Health Care and Drug coverage. Dental coverage is expensive and of course at the end of the day negotiable with your Dentist. If you have a family it is an absolute asset to you and your family. Always consider what is most important to you. As a specialist in the living benefits market we always recommend to our clients if they do not have access to a spousal plan and find health, drugs and dental too expensive, they should focus on what matters; extended health care and drug coverage. Since the average Canadian spends $4,458 per person of after tax dollars on health care, it certainly makes sense to have at least what could destroy your pocket book; health care and drugs. If you are healthy and not taking any medications make sure you buy a plan TODAY and be sure that it offers the following:
- Unlimited Drug Coverage The average Canadian spends $4,458 per person of after tax dollars (CIHI 2006 statistics). Drugs today are so expensive as they develop better ones each day; if you are healthy today make sure you buy unlimited Drug Coverage. It’s money in the bank.
- Extended Health Care coverage includes Private Nursing, Coverage for Registered Therapist and Specialists such as Chiropractors, Massage Therapists, Podiatrists, Speech Therapists, and Naturopaths, etc.
- Out of Province is sometimes included in the package while other times not.
This is an absolute MUST for any Owner Operator crossing the border; OHIP will NOT cover you while you are in the U.S.
So what if you are currently taking medication? Is there a plan that will cover you?
Absolutely. It requires some underwriting of up front, limits overall coverage for Drugs but extends more coverage under the extended health portion of the contract. Be careful if you consider a plan with an overall lifetime maximum. If you buy a plan today with a limited amount of coverage and later develop a serious illness with expensive drugs, your condition will be excluded. Majority of plans will cover any other conditions you may acquire as long as it is NOT related to your existing condition. So Buyer Beware.
For more information on this topic please contact us directly at 1-800-236-5810.
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