Canadian Life and Health Insurance Facts - 2020

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15 Canadian Life & Health Insurance Facts // 2020 Edition Health insurance Benefits by coverage type $ 38.1B 2019 health benefits In 2019, insurers paid $28.7 billion in supplementary health care costs, including the costs of prescription drugs, dental procedures and added hospital costs. Canada's life and health insurers also reimbursed costs of disability claims and other insurable services. Insurers protect nearly 70 per cent of Canadians against the costs of supplementary health care services In 2019, specialty drugs, including those for rare diseases, accounted for two per cent of total prescription drug claims but made up 33 per cent of total claim costs.** Specialty drugs equal a third of claim costs Supplementary health 26M Canadians covered $ 28.7B in benefits Disability 12M Canadians covered $ 8B in benefits Accident & other 21M Canadians covered $ 1.4B in benefits Supplementary health breakdown $ 12.5B Drugs $ 8.9B Dental $ 4.3B Paramedical* & vision $ 2B Hospital $ 1B Travel 2019 health benefits Supplementary health insurance provides coverage for hospital and medical expenses not covered by public health plans, such as prescription medicines, vision care, dental care and mental health supports. Health insurance can also provide income replacement for those unable to work due to disability. Sold as: Individual policies: 10%; Group plans: 90% Related products: Travel insurance, critical illness insurance, accidental death and dismemberment insurance, and health care spending accounts. Product profile

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