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Changes to OHIP Coverage when traveling in 2020

If you're planning a trip to another province, it's important to learn your options and to secure coverage with a travel insurance policy before you leave for your trip. If you're a frequent traveler, you may want to inquire about an annual plan which can be more cost-effective then purchasing multiple short-term travel insurance policies. Many travel insurance plans require that you are a resident of Canada who is covered under a government health insurance plan.
 
Accidents, health issues, or illnesses can occur anywhere and travel insurance can provide emergency medical coverage along with several other coverages during your trip such as: 

• Trip cancellation and trip interruption coverage
• Baggage loss or damage
• Flight accident
• Travel accident 

If your trip is canceled or postponed, in most cases you'll be able to cancel your coverage or change your coverage effective dates provided that you contact your broker before the effective date of your travel insurance policy.
 
Travelling Out-of-Country? 

**** Until December 31, 2019, OHIP will continue to pay up to $400 per day for emergency in-patient services and up to $50 per day for emergency outpatient and doctor services. Starting next year, this coverage stops. ****

A new program will provide kidney dialysis patients with $210 toward each treatment - actual prices in the U.S range from $300-$750 - but travellers will be on the hook for everything else.

The Ministry of Health has released statements encouraging travellers to purchase adequate coverage to protect themselves from large medical care costs.
 
Learn more about the OHIP Changes starting in the year 2020 Here

Please contact us before you leave for your trip at 647 943 0427 or jaimie@activefinancial.ca .

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Travel Insurance Through Your Credit Card Provider?

Many credit card companies offer perks, extra bonus goodies that help us to see that card as being more valuable than another credit card. Some of these perks can be fantastic, while others seem to be fantastic – but don’t fully meet your needs. The travel insurance coverage offered with some credit cards falls into the latter group; there are often some holes in coverage – the kind of holes that are potentially large enough to put a burden on your finances for years to come.

In many cases, the travel accident coverage offered through credit cards is “Common Carrier Travel Accident Insurance”. Our eyes see the last part. After all, travel accidents are exactly what we want to cover. Most of us aren’t quite sure what a common carrier is – but if there’s travel accident insurance, we’re good, right? Not quite.

An insurance policy is a contract and all policies rely on definitions to determine if coverage exists for a certain situation. When we see “common carrier”, we might think of large insurance carriers. Combined with “travel accident insurance”, it sounds pretty good. However, “common carrier” actually refers to transportation, like plane rides, train rides, bus rides, or taxi rides. You might find that some credit card companies limit coverage to plane flights only.  If you were wondering, a rental car isn’t a common carrier, so that part of your travel isn’t covered by most travel accident insurance that’s available through credit card providers.

The largest part of your trip – the actual vacation part – may not be covered at all by the travel accident insurance provided by your credit card company. If you trip over the invisible line at the border and suffer an injury, you’re probably on your own to cover your medical expenses if you land on the other side of the border. The same is true for traveling outside of your province. Emergency medical needs can result in a massive bill while traveling and, despite the confidence-inspiring name, common carrier travel accident insurance probably won’t offer any assistance.

A dedicated travel insurance policy fills these gaps in coverage by providing protection for the entire duration of your trip. Most policies offer plenty of extras as well, including trip cancellation coverage and coverage for lost or delayed baggage. Just reach out to your broker before your trip to secure the right coverage for you and your family.