What Is Critical Illness Coverage?

There are often a number of financial stresses associated with surviving a health crisis; loss of wages, travel to and from medical treatments, and home modifications can greatly increase your cost of living as you deal with your illness. 

Critical Illness insurance is designed to ease financial pressures by paying a tax-free lump sum if you become seriously ill. The Chambers of Commerce Group Insurance plan can pay up to $50,000 for employees and/or spouses who receive a diagnoses of a serious conditions. This payment can be used however the plan member decides, there are no restrictions placed on how the money is used. 

Some of the illnesses covered by Critical Illness insurance include: 

  • Cancer
  • Heart Attack 
  • Parkinson's Disease 
  • Multiple Sclerosis
  • Major Burns 
  • Coma
  • Speech Loss 
  • Coronary Bypass 
  • Stroke
  • Kidney Failure 
  • Paralysis 
  • Deafness 
  • Blindness

To learn more about Critical Illness Insurance, please visit

:http://www.chamberplan.ca/benefit-facts/98-critical-illness-coverage-to-help-you-recover

Coordinating Health and Dental Benefits

In many cases, getting the highest coverage may mean coordinating benefits with other insurance plans. Coordinating benefits is common with dental and drug claims, and happen if an employee or a dependent is covered under your group insurance plan and under a spouse's program. In this case, the two plans may combine to pay up to 100% of the claim expenses . 

When both spouses have coverage, claims should go to the patient's plan first. Any expenses not covered by the patient's plan should then be submitted to the spouse's plan along with the Explanation of Benefits from the initial claim. 

For dependent's benefits, the claim goes through the plan of the parent whose birthday falls earlier in the calendar year, then to the spouse's plan along with the Explanation of Benefits. 

When parents are separated or divorced, dependent's claims should be submitted in this order:

  • The plan of the parent with custody
  • The spouse of the parent with custody 
  • The parent who does not have custody 
  • The spouse of the parent who does not have custody

Remember to make photocopies of all documents before you send them to each plan. By coordinating benefits, you can ensure your employees are making the most of their benefit plans.

Group Benefits are still an option over the age of 65

Due to the economy, or personal choice, more and more employees are choosing to work past the age of 65. As the workforce changes we aim to change along with it, which is why employees who have surpassed the traditional age of retirement are still able to receive group benefits. 

The Chambers of Commerce Group Insurance Plan allows your company to apply for Group benefits once you have been in business for six months. Each plan is customized to suit your needs.

 coverage for employees from 65-80 can include

  • Health care - including prescription drug, ambulance ad semi-private hospital coverage
  • Emergency Medical Travel - the first 90 days of trips for certificate holders age 65-69, 60 days for certificate holders age 70-74, and 30 days for certificate holders age 75-80 
  • Life benefits with Accidental Death & Dismemberment payments 
  • Dependent Life coverage for spouses and dependent children 
  • Dental benefits
  • Best Doctors - access to worldwide medical specialists for diagnostic and treatment planning services 
  • Preferred Vision eye wear and hearing devise purchase discounts
  • Health Access telephone line offering information on health, nutrition and regional resources
  • Employee Assistance Service - counselling services for confidential help dealing with personal issues 
  • Business Assistance Service - providing owners access to legal, accounting and human resource services. 

If you or someone in your company is considering working past the age of 65, it is important to ensure that they are provided with valid coverage on your group plan. The Chambers of Commerce Group Insurance Plan will work with you and your company to provide the best coverage to every employee at your firm.