International Private Medical Insurance (iPMI) Canada

International private medical insurance and global healthcare analyst, and report author, Ian Youngman, takes a look at IPMI potential in Canada.

You may think that by following insurance and global news media you pick up the information you need about countries and changes.

But a lot more changes happen and by the time you realise them, it is too late.

If you have not been authorised in Qatar then you will not be able to offer IPMI for the new system.

The same is probable for Bahrain- where Aon (having won the contract from a rival) will decide the IPMI rules and who can offer cover for expats.

The Swiss government is considering extending the insurance and health schemes to include all citizens living abroad.

Canada has a new law change that offers potential but only if you act fast.  

CANADA

Offering health insurance in Canada is complicated due to different provincial rules, and Canada tends to set rules they benefit local insurers.

But a new law change opens the doors for international insurers.

The good news is that changes to a visa opens the market to international insurers and removing the rule that only allowed Canadian based insurers to offer cover.

More good news is that this is a Federal Government initiative with no provincial variants.

The bad news is that it is not an open market as only insurers designated by the Immigration ministry will be allowed to offer cover.

The federal government has announced its plans to update Canada's super visa programme that means eligible people will be able to stay in Canada for longer.

The changes to the super visa programme aim to reunite families more easily and for longer.

As of July 4, 2022, the maximum allotted time for the visa will be extended from two years to five years per entry into Canada, with the option to request a further extension for an additional two years.

All applicants must prove they have health insurance,

They will be able to get medical cover from designated international insurance companies.

Part of the rule change will allow the Minister of Immigration, Refugees and Citizenship to designate international health insurance companies to provide cover for super visa applicants.

At present only Canadian insurance companies are able to provide cover for visa applicants.

The super visa program is for parents and grandparents of Canadian citizens or permanent residents living outside Canada who want to visit their families for an extended period of time.

To get this visa, applicants must submit a letter signed by their children or grandchildren that confirms they will be financially supported during their visit.

Other conditions for super visa applicants include an immigration medical examination, information about the financial standing of the family member taking them in, the purpose of their visit and much more.

The potential is for IPMI cover for up to 7 years.