The coronavirus pandemic led to a sharp decrease in people visiting health professionals and filing claims, resulting in an estimated savings of $4.8 billion for Canadian private insurers between March 15 and June 15, according to a new report by insurance comparison platform Hellosafe.ca.

The report, which used historic data sourced from the Canadian Life and Health Insurance Association’s 2019 facts book, also found many Canadians avoided seeing a range of health providers during the first wave of the pandemic, leading to a corresponding 71 per cent drop in private health insurance payouts over the first six months. 

Read: How are insurers working with plan sponsors amid coronavirus pandemic?

For example, the data showed medical appointments fell 32 per cent for general practitioners and 73 per cent for specialists, while optical and dental care appointments plummeted more than 90 per cent during the first six months of the pandemic when compared to the same time period in 2018.

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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Blake Waddell:

Interesting that claims dropped by 90%, premiums by 50% and insurers are still trying to set a claims “normalization” to make clients pay more at renewal after the insurers already took a windfall during the pandemic. Let’s remember these should be a partnership and let’s try to be there for clients in their times of need, not take advantage.

Friday, October 02 at 11:59 am | Reply

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