Tuesday, May 20, 2008

Medical Wait List Insurance

With waiting lists for medical procedures in our so-called "public" healthcare system at all-time highs, it comes as little surprise that the entrepreneurial spirit of the private sector is now offering a means of bypassing those long line-ups.

Acure Health Corp.
offers what they like to call "Medical Access Insurance (MAI)" which according to Acure Health, is Canada's first "Wait List Insurance." According to the CBC, the insurance is now offered in five provinces, most recently in Ontario.

So What is Wait List Insurance?

According to their web site, Acure's Medical Access Insurance

"provides Canadians with expedited access to specialist consultation (see MAI Plus+), diagnostics, and surgery for over 135 treatments and conditions. Medical treatment for covered conditions will be provided in weeks, not months or years. Our policyholders are serviced independently, resulting in shorter waiting times for others... If a physician recommends a covered diagnostic procedure or surgery and you are placed on a medical waiting list more than 45 days long, MAI will arrange to expedite your diagnosis and treatment in the United States or, in Canada when services are available."
Should You Buy It?

Just like life insurance, I consider wait list insurance a personal choice but unlike life insurance coverage, you might personally benefit from it.

With that in mind, is it worth the average 75+ bucks per month for coverage?

If you come from a strong gene pool, you might consider twice but if you've ever known someone waiting for months or years for an operation and witnessed their agony, then you'll most likely say yes.

The price may be steep but in the grand scheme of things, it might be well worth it in the time and money you save in not being in pain and suffering. Keep in mind that it was originally promoted as an addition to group insurance packages for companies so you might want to try convincing your employer to share in the costs as well.

I am not an insurance expert nor a doctor, so as always, you should not rely on any information found on this blog. I encourage you to conduct your own research and consult with your physician before signing any documents. Acure Health Corp. did not commission the writing of this article.

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