Higher premium for those with change in medication
Posted date : Nov 7, 2017.
Dear Bird Talk,
I have a question that hopefully, you can answer. Why do insurance companies that provide outside-of-Canada health insurance have you pay a higher premium for health insurance if you have a change in medication, with higher or lower dose, and you are deemed unstable for 180 days and you are not covered for this ailment?
Ed.: You should NEVER buy insurance that does not insure you for the illnesses which you have. It’s like buying tires for your car, but you do not own one. Basically, what these insurers are saying to you is that because you have this unstable condition, you are at higher risk to have other problems and should, therefore, pay more. If you have stomach cramps, for instance, and you have one driving a car, your risk is far higher than a normal person; if you have a heart issue and someone startles you, you could have a heart attack, etc. The medication change also presents many opportunities for side-effects as your body has not adjusted to the new drug regimen yet. I would find a 90-day pre-ex clause like the one offered by Medipac.