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Leading Insurer Offers Education on How Supplemental Insurance Can Help Offset Challenging Economic Trends in Canadian Market
Date:10/29/2008

Combined Insurance Offers Insurance Guidance to Canadian Consumers

Toronto (PRWEB) October 29, 2008 -- As citizens of Canada face growing challenges due to economic issues such as rising health care costs and out-of-pocket medical expenses, cutbacks in Canada's health care system and shrinking contributions by some employers to employee benefits programs, Combined Insurance, a leading provider of supplemental insurance, offers guidance to consumers that supplemental insurance policies are a way to help offset these trends.

According to Jacques Thibaudeau, executive vice president and managing director of Combined Insurance in Canada, "For the remainder of 2008 and into 2009 we expect to see continued economic and financial pressures in Canada. Unfortunately, these pressures can put additional strain on individual and family assets in the event that illness or injury strikes. Out-of-pocket costs mount to cover treatments or medicines not covered by public health care plans." The Canada Health Act provides universal coverage for Canadians; however, each province administers its own plan, which varies from province to province. "With supplemental insurance policies," continues Thibaudeau, "consumers can obtain extra protection for those expenses that are often not covered by standard government health care policies or for private treatments."

Rising Healthcare Costs:
According to a recent article in The Globe and Mail newspaper, health care costs in Canada are rising faster than inflation and in recent years have grown by 7.4 percent annually. While the Canadian National Health Insurance program covers some medical care and hospital treatments, it does not cover all health-related issues.

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