CLHIA-ACCAP

Canadian Life and Health Insurance Facts - 2020

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16 Canadian Life & Health Insurance Facts // 2020 Edition Notes Supplementary health reimburses a variety of expenses, such as prescription drugs, dental, hospital and medical expenses, that are not covered by provincial government plans. Disability helps replace lost income due to disability (frequently integrated with Public Pension Plans, Workers' Compensation and Employment Insurance), usually paying around two- thirds of earnings. ** Source 2020 Prescription Drug Trend Report, Express Scripts Canada Accident & other includes coverage for accidental death and dismemberment, long-term care and critical illness. * Paramedical refers to services and professions, such as physiotherapy, that supplement and support medical treatment. Canadians access health insurance in two ways, through group plans provided by employers, unions or professional associations, and individual plans that are purchased by individual consumers. How Canadians purchase health insurance policies $ 48.3B 2019 health premiums Ninety per cent of health insurance is purchased through a group plan Individual: 10% Group: 90% 80% of working Canadians and their families are protected by private health insurance plans, up from 76 per cent a decade ago. Cost-effective health protection The majority of health insurance premiums are paid out as benefits to policyholders (5-year average). 8% operating costs 3% taxes 3% profits 86% paid out to policyholders as benefits

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