Posted date : Nov 7, 2017.
Dear Bird Talk,
I think it is great that the CSA supports the Medipac Insurance program and vice/versa. It is an important membership benefit to a lot of members and I am sure the insurers have a successful operation financially. However, what bothers me is that it is not cost effective for all members and I maintain that it should be. I would like to be insured with Medipac and to support the program, but this year, the price quoted for me was nearly $1,000 more than I was able to purchase the coverage elsewhere. Not good enough, I say.
I am 83 and in good health and am also a licensed insurance broker, so I know what I am doing. If the CSA is to support this program, then I think it should be competitively priced for all members and not just those who provide the most profit to the insurers.
I would like to have your comments.
One of your comments, as a licensed insurance broker, stood out to us – “I would like to be insured with Medipac”. You have obviously done your homework but have objections to our price, and we understand this. Of the 40 odd insurers in the travel health business, there is only one that has a significantly lower price than Medipac (most cost a great deal more). Assuming you are travelling for 183 days, their price is $680 less than Medipac’s base price for your age group. That company is the same one referred to above so I would be very, very careful. They also have very low limits on their maximum claim in the $50 -100,000 range, which is certainly nowhere near sufficient to pay for a few days stay in intensive care. Medipac, of course, pays up to $2 million U.S. dollars. There are also lots of wording differences between the two policies, and Medipac is better and more user-friendly in almost all cases. If you are claims free for 10 years (which you appear to have been), and have been with Medipac for 5 years or more, you earn a 15% discount on your Medipac premium. This brings the real price difference to $62. To clarify, Medipac is $62 cheaper than the other stripped down plan. Our coverage and service are light years ahead. You should look at our Early Bird Program and call us if we can assist you in any way.