Health Insurance

[edslunch]

I am retiring later this year and will lose my company benefits so I'm looking for a good replacement plan for my wife and I, as well as my daughter until she starts university. While generally in good health we have particularly high prescription costs - something I see isn't well covered in most personal plans.

Can you recommend a company / plan that might work? Would you recommend setting it up directly or going through a broker?

[RichieRich]

Sadly you will need to do your own legwork as there are a ridiculous number of options out there. Some will focus moreso on prescription costs and others paramedical and others dental etc. if you have affiliations (teacher, engineer, etc) some places give preferred rates. If you have your own Incorporation (ie small consultancy) then you can flow medical costs through via a self-managed HCSA.
I’ll try to remember later today to add some sites and info for you.
But keep in mind these are businesses that oddly enough like to make money so sometimes it’s best to pay out of pocket and take the (small) tax deduction later.

[Dan02]

If you're looking strictly for prescription coverage and are under 65 Alberta Blue Cross non-group coverage is an option.

https://www.alberta.ca/non-group-coverage.aspx

$118 per month for a family or 63.50 for a individual. It covers 70% of your prescription costs but your max co-pay is 25$, even if your medication is $1,000+.

No caps on yearly prescription coverage like lots of other plans and no qualification requirements.

[DoubleF]

Originally Posted by edslunch

I am retiring later this year and will lose my company benefits so I'm looking for a good replacement plan for my wife and I, as well as my daughter until she starts university. While generally in good health we have particularly high prescription costs - something I see isn't well covered in most personal plans.

Can you recommend a company / plan that might work? Would you recommend setting it up directly or going through a broker?

Can you pay the company's benefit provider after you retire to continue receiving benefits?