What if you have a PHSP and face catastrophic medical expenses?
Provincial healthcare helps but still leaves gaps which can be costly.
What happens if your medical expenses are much higher than you anticipated? With conventional insurance, you're generally protected (subject to deductibles, co-payments and caps). With a PHSP, you aren't. There is a solution, though.
The protection starts after you've paid $2,500 of claims yourself (which you'd likely do through your Benefits My Way PHSP). This large deductible means low costs for the insurer, which means lower costs for you.
With CustomCare, you can add Catastrophic Medical coverage. The annual maximum benefit is $125,000 per person, per injury/illness, which consists of up to
- $25,000 for hospital charges
- $25,000 for prescription drugs
- $25,000 for nursing services
- $25,000 for ambulance services
- $25,000 for qualifying services from licensed practitioners
The annual deductible is $2,500 per person.
Note: Products change. Simplified for readability. You'll find more details in the Travel & Catastrophic Medical brochure (PDF).