What is the most popular health insurance company?

What is the most popular health insurance company? Top 5 Health Insurance Companies in Canada

1. Manulife 
2. Ontario Blue Cross
3. Sun Life 
4. GreatWest Life
5. Group Medical Services (GMS)

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What is personal health insurance?

Personal health insurance (also known as individual health and dental insurance) is coverage that can help Canadians or those living in Canada cover the cost of preventive care or medical bills due to an illness. It can help pay for several health-related expenses, including:

• Prescription drugs to treat a chronic or serious health condition,

• Dental treatments such as teeth cleanings, braces, dentures and crowns.

• Vision-care needs such as eye exams and prescription glasses.

• Emergency travel medical services when you travel to another country.

• Physiotherapy to help with injury recovery.

• Medical equipment to help with your mobility. 

Why do you need personal health insurance if you have government healthcare?

Provincial and territorial health and drug plans in Canada provide coverage for certain health expenses. But there are gaps that can leave you with costly medical bills. If you were to get sick or injured, your government health plan may only cover a fraction of your medical bills. In some cases, you may not get any coverage at all. This means you could be left paying out-of-pocket to cover various health-care costs.

With personal health insurance, you’ll get reimbursed for eligible health expenses. This can include medical, dental, vision and other health-care expenses that aren’t fully covered (or covered at all) by your provincial or territorial healthcare plan.

Top 5 Health Insurance Companies in Canada

1. Manulife

Live healthy, earn rewards and save money, with Manulife Vitality!

Available on all Flexcare and FollowMe Health & Dental plans, Manulife Vitality** gives you insurance plus the opportunity to earn rewards and save on how much you pay—all while helping improve your health! You can earn points for choosing simple activities like eating well and exercising to completing health assessment online. The more engaged you are and the healthier your choices, the more points you can earn towards rewards!

You can save 5% on your first-year premiums AND up to 10% in following years when you select Manulife Vitality with your Flexcare or FollowMe Health & Dental insurance plan.

2. Ontario Blue Cross

Ontario Blue Cross insurance is unique in that it offers insurance coverage in multiple countries. In Canada, they operate in every province and across every territory. Coverage types and plans vary across locations so it's important to consult with an agent for details.

Your provincial health plan already covers some basic needs. Blue Cross insurance is designed to provide coverage beyond that.

Ontario Blue Cross offers comprehensive and affordable health insurance coverage for customers. If you have a unique work situation, this may be a good option for you. Blue Cross specializes in making sure their plans help those who need them.

Whether you're employed with a small or large company, or are self employed, Blue Cross is a sound option to consider.

3. Sun Life 

Basic 

This is our lowest-cost plan. It can help cover the cost of your basic medical and dental needs.

Standard 

This is our most popular plan. It includes more coverage for prescription drugs than the Basic plan. It also includes emergency medical coverage for travel and optional preventive dental coverage.

Enhanced

This is our most comprehensive plan. It includes even more coverage for prescription drugs. It also offers optional dental coverage that includes restorative and orthodontic services.

4. GreatWest Life

The Canada Life Assurance Company has been a household name since 1847. The company was founded in Winnipeg Manitoba and paid out its first death claim in 1893 for an insured killed in a bicycle accident. By 1897, the company was represented across every province in Ontario.

The business continued to evolve and thrive over the last century and beyond until 2020 when it amalgamated The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company, along with their holding companies (London Insurance Group Inc. and Canada Life Financial Corporation).

They offer several plans to choose from. Though the name is somewhat deceiving, this company does offer more than life insurance.

What you'd be looking for here is health and dental insurance. These plans are designed for people who don't have group benefits or are losing health coverage for some reason.

What do these plans cover? They're available for both you and your family. Those insured receive help with prescription drug, hospital, ambulance, and vision costs, to list only a few.

The idea here is to make your health plan feel like you're covered with group benefits, even if you're not.

5. Group Medical Services (GMS)

(Group Medical Services) was opened in 1949, long before publicly funded health care was available in the country in the lovely province of Saskatchewan. The unique aspect of this company is that it was actually founded by a group of determined doctors, community and friends; as part of their mission statement, their primary focus on wellness first. GMS offers several health coverage plan options. These include travel insurance, student insurance, replacement health coverage, and personal health coverage.

Do you have friends or family that are visiting from out of country? They can secure health insurance from GMS during their stay. As a resident of Canada, you may be interested in either the personal or replacement health coverage options.

Personal health coverage plans are meant to extend the coverage you have through your province. They're flexible and cater to your needs. These include dental coverage and prescription drugs.

GMS offers three personal health coverage plans. The Basic Plan, ExtendaPlan, and the OmniPlan. Each one offers different benefits with the OmniPlan being the creme de la creme as it brings you services like naturopathy and accidental dental, so make sure you familiarize yourself with them all before making a choice. Once you've chosen a plan you can also add additional coverage.

Replacement health coverage is for those who're losing group benefits in the near future. GMS also offers three plans for this type of coverage.

If side-by-side comparison would be helpful, speak with us today. Our agents would be happy to spend the time to understand your unique needs and provide more detailed information on how a GMS health and dental plan can benefit you.