Guaranteed Issue Health Insurance in Canada: What You Need to Know

If you are living with a pre-existing health condition, such as diabetes, high blood pressure, or a heart condition, you might assume private health and dental insurance is not an option. Many Canadians have even been declined in the past because of their medical history.

The good news is that coverage is still available. The key is understanding the different types of extended health care plans and choosing the one that fits your situation.

The Two Main Types of Extended Health Care Plans

When it comes to health insurance in Canada, plans generally fall into two categories:

1. Medically Underwritten Plans

These plans involve a health questionnaire as part of the application. In some cases, the insurance company may also request information from your doctor. Pre-existing conditions are usually excluded from coverage.

Because the insurer knows more about your health history, these plans typically offer the most coverage for the lowest relative cost. If you are in good health, they are often the best choice.

2. Guaranteed Issue Plans

Guaranteed issue means there are no medical questions asked on the application. You are automatically approved regardless of your health history.

Insurers recognize that many people applying for these plans do so because of health concerns. As a result, guaranteed issue plans usually provide less coverage (fewer dollars, fewer services) at a higher relative cost than medically underwritten plans.

Within guaranteed issue, there are two important subtypes:

Guaranteed Issue “Conversion” Plans

• Available if you apply within 60 to 90 days of losing group benefits through your employer.
• Cover all pre-existing conditions.
• Provide moderate coverage at a moderate relative cost.

Guaranteed Acceptance Plans

• Can be applied for at any time.
• Cover all pre-existing conditions.
• Provide the lowest coverage amounts at the highest relative cost.

Who Are Guaranteed Issue Plans For?

These plans are a lifeline for people who might otherwise struggle to get coverage because of health conditions. But they are not only for the hard-to-insure.

Some Canadians choose guaranteed issue plans simply because they value speed and simplicity. There are no medical exams, no questionnaires, and no waiting on paperwork. It is an easy, hassle-free way to make sure you are covered.

Making the Right Choice

The right plan type depends on your health history, whether you are coming off employee benefits, and how much coverage you want. If you are healthy, a medically underwritten plan may give you more value. If you are managing a health condition or transitioning off group benefits, guaranteed issue could be the better fit.

Compare Your Options in Minutes

At Aeva.ca, we make it easy to compare guaranteed issue health care plans from all the top insurance companies in Canada. You will see your options side by side, so you can choose the plan that fits your needs and apply in less than five minutes.

Find and compare plans now at Aeva.ca