Employee well-being is holistic; it encompasses not only physical and emotional health but also aspects of social and family life, community, and financial health. When you provide your employees with health navigation via web, mobile, and call centre support, it can make a big difference to their financial well-being. Health navigation can help individuals discover available public resources and ways to save on out-of-pocket health care costs.
Money Back in Your Pocket: Save on the Costs of Health Care
Perhaps nothing is more important than your health and the health of your family. But looking after your medical needs can be expensive, even with the support of our public health care system. Did you know the average Canadian household spends up to $200 a month on health care? The good news is that if you are open to changing your spending habits, there are many ways you can save on medical expenses.
Explore Your Public Options First
In Canada, we’re lucky enough to have a publicly funded health care program. In fact, there are 13 health care programs, since each province and territory has one of its own. Publicly funded health care allows us to access medically necessary health services—such as doctor’s appointments, treatments, and surgeries—at no cost. If you’re hoping to save on health care costs, it’s a good idea to assess the benefits of public health care and to research your options thoroughly before seeking care at a private clinic. Using a health navigation platform, if you have access to one through your employer, is a great way to locate the public and local health care options available to you.
If you do decide to use private health care, you may head for private clinics or allied health care providers. These clinics and providers may have benefits like no wait times and longer appointments, and they may offer specialized services or alternative care options that your regular physician doesn’t provide.
The services may include:
- Vision and dental care
- Foot care
- Physiotherapy
- Chiropractic care
- Cosmetic surgery
- Fertility treatments
The downside to private care is that it comes with a price tag. And although private insurance may provide some coverage of the health services mentioned above, not everyone has access to an insurance program or can afford one.
Reduce Your Medication Costs
In an Angus Reid poll, over a fifth of Canadians admitted that, due to financial reasons, they don’t always take their prescribed medications properly. They skip or reduce their prescribed doses, or they don’t fill their prescriptions at all. But there are better and safer ways to save on the cost of medication.
How to save safely:
- Ask your doctor or pharmacist whether there are less expensive alternatives to your prescribed brand, such as generic drugs or over-the-counter medications that will work just as effectively.
- Shop around. Visiting a variety of pharmacies will allow you to compare the different fees for dispensing services and medications.
- If you are taking medication on a long-term basis, order a larger supply to avoid paying multiple dispensing fees.
- Buy double-strength pills and split them. Some medications come in a higher dose but cost close to the same amount as the low-dose pills. Not all pills should be split, however, so make sure you have your doctor’s say-so.
Join a Support Group
Support groups can be very beneficial to your mental health, as they help to ease isolation and to reduce anxiety. These groups can also help you to save money on health services.
How a support group helps:
- Peer support is linked with a reduced need for medical and professional mental health services. If some (or all) of your mental health needs are being met in a support group, you may not need to spend as much on other mental health services.
- When you meet others who have the same medical condition as you have, you can learn about cost-effective ideas, resources, and options that you might not have already considered.
Do Your Paperwork
Every province and territory has its own list of health care services that are considered “medically necessary.” If a particular treatment or procedure is not on the list but you can prove that it’s critical for your health, you may be able to get coverage. Your specialist can help you with the documentation.
Even if you do pay out-of-pocket for health care, you may be able to be reimbursed for your medical expenses. Canada Revenue Agency will allow a tax credit for most medical expenses, including procedures like laser eye surgery, devices like hearing aids, and any of your prescription medications that you’ve had to pay for. Remember to always keep your medical receipts!
More insight into mental, physical and financial health here.
Key Websites
- Government of Canada: Provincial and Territorial Public Drug Benefit Programs
- Canada Revenue Agency: Lines 330 and 331 – Eligible medical expenses you can claim on your return
- Health Canada: First Nations & Inuit Health, Non-Insured Health Benefits (NIHB) Program – General Questions and Answers
