Visiting Cuba? Not Without a Travel Insurance Plan

Travelling to Cuba? Don’t forget your health card and a copy of your travel insurance.

Did you know that Canadians travelling to Cuba need travel insurance that covers medical expenses? The government of Cuba announced in May 2010 that upon arrival in Cuba, foreign visitors are required to present an insurance policy, insurance certificate, or medical assistance card valid for the period of their stay in the country…

Your provincial health card will be accepted as proof of coverage, but provincial health care systems usually do not cover medical expenses abroad. At most, they may cover a very small fraction of the cost.*

Travelling to Cuba?

*Ask your insurance broker about CAPCO’s comprehensive international insurance plans or CAPCO’s travel insurance.

The cost of U.S. Emergency room procedures

This feature was published in the New York Times in December, 2013:
A day spent as an inpatient at an American hospital costs on average more than $4,000, five times the charge in many other developed countries, according to the International Federation of Health Plans, a global network of health insurance industries. The most expensive hospitals charge more than $12,500 a day. And at many of them, including California Pacific Medical Center, emergency rooms are profit centers. That is why one of the simplest and oldest medical procedures — closing a wound with a needle and thread — typically leads to bills of at least $1,500 and often much more.

As Hospital Prices Soar, a Stitch Tops $500 US

For patients without health insurance, an emergency room visit typically costs from $150-$3,000 or more, depending on the severity of the condition and what diagnostic tests and treatment are performed, according to Costhelper.com. Services, diagnostic tests and laboratory fees add to the final bill, and a doctor fee could add hundreds or thousands of dollars to the final cost. Alternatively, urgent care centres offer substantial savings for more minor ailments, and some hospitals offer discounts of up to 50% or more for self-pay/uninsured emergency room patients.

Cost of an Emergency Room Visit

 

Trends in Corporate Health

by Jeff Brock
President at MedExtra and Owner, MedExtra

With the recent publication of the 2015 Sanofi Healthcare Summary Evan, Thierry Hamtiaux (our VP sales and marketing) sat down to discuss trends that we saw emerge over the past 12 months, many in line with what Sanofi’s survey revealed and what our clients and distribution partners are saying;

Trends in Corporate Health

Longevity Significant Risk To Retirees

(by Benefits and Pensions Monitor)

There is a significant risk to consider when it comes to assuring financial security in retirement: the risk of outliving one’s assets ‒ also known as longevity risk, says ‘The Challenge of Longevity Risk: Making Retirement Income Last a Lifetime,’ a paper by the American Academy of Actuaries, the Actuaries Institute Australia, and the Institute and Faculty of Actuaries (IFoA) in the United Kingdom.

Longevity

Travelling abroad for medical care

Large numbers of Canadians continue to venture abroad to seek medical care, according to a new study released by the Fraser Institute, a Canadian public policy think-tank.

The study, Leaving Canada for Medical Care, 2015, estimates 52,513 Canadians left the country to receive non-emergency medical treatment in 2014, an increase of 26 per cent compared to the previous year.

An alternative view of the study was offered on CTV NEWS channel.

Canadian snowbirds: Rules you need to know

 A crowd of snowbirds visit the Winter Guest Fest in Fort Walton Beach, Fla. (Nick Tomecek/Northwest Florida Daily News/Associated Press)

It includes

  • How long can Canadians stay in the U.S.?

  • What are the rules for snowbirds buying supplemental travel health insurance?

  • How can snowbirds maintain their home insurance coverage in Canada while they are away?

Canadian snowbirds: Rules you need to know