Stop Loss/Travel Medical Coverage
This coverage is not required to be purchased for employees of incorporated companies, but it is always recommended. It is a requirement to be purchased by unincorporated companies. This coverage can provide significant protection for employees should something catastrophic happen medically either in province or while traveling. This coverage is in no way meant to replace traditional insurance and does include a pre-existing condition clause (six months). It can however provide tremendous financial relief should an unexpected accident or injury occur.
The premiums are as follows:
- $91.44 single coverage / $174.84 couple coverage /$223.40 family coverage*
* considered dependents if less than age 18 or age 18-25 if enrolled full time in educational institution
(1) Stop Loss Component:
If you and/or your covered dependents require medical or surgical treatment in your own province of residence, this plan will pay for the following covered expenses after you have satisfied the deductible of $1500/person.The plan will then cover up to $25,000 annually per covered expense category with an overall combined lifetime maximum for all expenses of $250,000. The categories are: (a)Semi-private hospital room and board, (b)Private Nursing, (c)Prescription drugs, sera, vaccines, (d)Ambulance (including air), (e)Services of licensed practitioners to a maximum of $25 per visit, (f)Rental of wheelchair or other durable medical equipment
(2) Travel Component:
If you and/or your covered dependents require medical or surgical treatment outside of your own province of residence, this plan will pay certain covered expenses including the following covered expenses to a maximum of $1,000,000. There is no deductible and the maximum trip length is 60 days.
- Semi-private hospital room and board (to a max. duration of 12 months)
- Private Nurse (prescribed by a physician) to a maximum of $5,000 per accident or sickness
- Prescription drugs, sera (eg. Insulin) and vaccines (available only by written prescription)
- Charges for Physiotherapy to a maximum of $1,000 per accident or sickness
- Ambulance (including air) to a maximum of $1,000 per accident or sickness
- Expenses for blood plasma, whole blood or oxygen, x-rays and laboratory examinations
- Rental or purchase of casts, cervical collars, crutches, trusses, splints and braces
- Expenses for medical care and surgical procedures performed by a physician
- Services of licensed practitioners:$25 per visit to an overall maximum of $25,000.
- Emergency Dental Treatment to a maximum of $2,000
Please refer to Sample policies full details of benefits and restrictions.
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