Travellers: Make Your Health Policy Work For YouNews Canada NC—The purchase of travel health insurance is a sensible idea for anyone taking trips outside Canada. If you get sick unexpectedly or have an accident while you are away, the health services in other countries are generally much more costly than those which OHIP covers. When buying your insurance however, it is important to take all the time needed to fully understand the coverage as well as the limitations of the policy. Be sure to determine your own needs first, say industry specialists, then read the policy thoroughly to be sure those needs are covered. The Financial Services Commission of Ontario FSCO reminds the travelling consumer that it is not enough to simply buy travel health insurance; travellers must also know how the policy works and how to use it. FSCO is an agency of the Ministry of Finance that regulates Ontarios insurance industry. Its suggestions in this regard are based on records of what went wrong for others. It is important for example, to compare the policies offered by different companies, not just for price, but also for the amount of coverage, pre-existing conditions, deductibles, limitations and exclusions. Your health, age, the medication you take, the length of your trip and the destination are all factors that affect the price of a policy and the types of medical costs your insurer will cover. In some cases you may have to find an insurer willing to write a policy tailored to your circumstances. To better compare each policy before purchase, take a look at the Travel Health Insurance Policy Checklist, posted on the FSCO Web site. Heres a sample:
Dont forget, says FSCO, you may already have sufficient coverage from your credit card company or employee benefits plan. Dont buy more insurance if you are covered. Additional information on this subject is available online at www.fsco.gov.on.ca. Or, for a copy of their booklet Shopping for Travel Health Insurance phone 416 590-7298 Toll Free: 1-800-668-0128. - News Canada Editors, these articles are for use in Ontario only
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