Cancer Assist Podcast — Understanding Insurance Coverage with Linda Papadopoulos
The importance of having health insurance isn't fully appreciated by many Canadians until they’re faced with a life-changing diagnosis. For those experiencing cancer, understanding the scope of insurance coverage, limitations, and opportunities can provide some peace of mind during a challenging and uncertain time.
On the most recent episode of the Cancer Assist Podcast, hosted by Dr. Bill Evans, we’re joined by Linda Papadopoulos, BSc., CIP, CCIB, CRM, Senior Vice President, Corporate Risk Management at Gallagher Insurance. In “Understanding Insurance Coverage,” she explains the differences between personal health insurance and provincial healthcare coverage, highlighting important factors to consider in protecting yourself and your family. Papadopoulos also explores the importance of prioritizing health insurance with the same urgency we procure house and car insurance.?
“The important thing is to start early, whether it’s when you’re starting out in your career as a young professional or starting a family. Most of us tend to put things off,” she says, adding that when possible, it’s best to acquire coverage before a diagnosis. “Certainly, that's not to say if you have a medical condition that arises that there are no options,” says Papadopoulos. “There are options, but it's much harder at that time, and much more costly," she says.
Papadopoulos also encourages listeners to consider any limitations to other types of insurance, including travel insurance.?
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“If you're planning to travel, whether it's for one week or two weeks, to a sunny destination or a different destination outside of the province, look into travel insurance, but also look into what exclusions pertain to the different types of medical conditions or underlying medical conditions,” says Papadopoulos. “Certainly, for someone who is undergoing therapy, it's a little bit more of a challenge to obtain travel insurance than someone that has finished their therapy and is in a state of stability or remission for a prolonged period of time.”
Though many healthcare costs are covered in Ontario, there are many hidden costs to cancer. Booking a meeting with an insurance broker or advisor is an excellent first step toward better understanding what additional expenses may need to be covered out-of-pocket or through supplemental insurance coverage.