Health insurance for freelancers afbs june 2014

Jason Saulay AFBS Affinity Programs and Business Development

Health Insurance for Writers

Are you going to be proactive?

What is Health Insurance?• Pays for medical expenses incurred if you suffer a

loss due to sickness or injury • Supplements your provincial plan

Prescription Drug

Extended Health Care

Travel Emerg. Medical

Dental

AD&D

Disability

Critical Illness

Long-Term Care

What You Typically Get:

Add Ons:

Where Can I Buy Health Insurance?

• Through a Professional Organization/ Association

• Direct to Insurer

• Use a Broker

What is not covered by provincial plans?

• Prescription Drugs • Dental • Hospital Care (semi-private) • Paramedical Services (chiro, naturopaths, etc.) • Vision Care (eye glasses, contact lenses) • Medical Services and Equipment (private duty

nursing, ambulances, crutches, hearing aids, etc.)

• Out of Province Emergency Medical • Out of Country Emergency Medical

Ask yourself:

• What am I looking for? • How much was spent last year? • What can I afford? • Savings account? • Access to group coverage? • Pre-existing conditions? • Specific benefits? • Who will be covered?

Plan-specific questions:

• What does the plan cover?

• What does it NOT cover?

• Different coverage levels?

• Limitations or conditions?

• Co-insurance amounts?

• Is there a deductible?

• Medical assessment required?

• Travel Emergency Medical

• Extended Health Care • Life and AD&D • Dental • Prescription Drug

Annually Monthly Annually Monthly

Premium Cost $ 1,321.80 $ 110.15 $ 852.00$

71.00

Marginal Tax Rate $ 330.45 $ 213.00Net premium cost after tax savings $ 991.35 $ 639Annual expenses paid through planPrescription Drugs $ 200.00 $ 200.00Dental $ 150.00 $ 150.00Vision Care $ 150.00 $ 150.00Registered Specialties (mass, chiro, acup) $ 200.00 $ 200.00

$ 700.00 $ 700.00

Annual expenses paid out of pocketPrescription Drugs $ 65.00 $ 60.00Dental $ 150.00 $ 150.00Vision Care $ 65.00 $ 150.00Registered Specialties (mass, chiro, acup) $ 200.00 $ 200.00

$ 480.00 $ 560

TRUE COST $ 771.35 $ 64.28 $ 499.00 $41.58

Actual Cost – Writers’ Coalition Program

COMPREHENSIVE LIGHTSINGLE AGE 45

The thing about insurance is that people tend not to think about it until they need it. When they need it, and don’t have it - it’s too late.

Jason Saulay [email protected] 416-967-6600 Ext. 256

Questions?

Contact: Web:

www.writerscoalition.ca