Health is sometimes considered, wrongly, as a superfluous expense, especially since the rates of its mutual insurance are sometimes opaque. According to INSEE, the top two expenditure items in France are housing and food. The latter occupies almost a quarter of the average budget of a French person.
Between rich and modest households, there is a gap in the allocated budget, which can go up to 6 times, in particular for optics (between basic glasses and designer frames) and dental (between simple prostheses and fully ceramic appliances). By choosing a good health supplement, it is possible to take care of your health without breaking the bank. Mutual insurance is an essential expense, but it can weigh heavily on the family budget for the year. What are the prices of complementary health insurance?
Average rates for mutual insurance
In France, statistics show that most people spend fairly large sums on their health each year: between 900 and 1600 euros for a senior and between 200 and 500 euros for a young person.
More and more charges weigh on the insured, such as the payment of the co-payment of 1 euro at each consultation or the reimbursement of drugs, depending on the color of the sticker.
This is why the French seek to opt for complementary health insurance with the best guarantee/price ratio. The average expenditure is approximately 40 euros per month for a single person and 110 euros for a family of 4 people. This average takes into account neither age nor professional situation… It is very important to compare the different offers, in order to opt for the most targeted one.
What’s best for your business?
Offer group insurance that covers drug insurance to your employees or let your employees without group insurance call on the RAMQ ‘s mandatory drug insurance?
Since 2001, we have helped more than 1,300 Quebec and Canadian businesses find their group insurance product at the best price!
First, it is important to know that RAMQ insurance only covers medication. Nothing more. The health insurance of a group insurance plan (and coverage) also covers the medication, but also:
- the semi-private hospital room,
- travel insurance (including travel cancellation),
- the ambulance,
- professional services (chiropractor, physiotherapist, osteopath, etc.),
- eye exam,
- several medical supplies (orthotics, prostheses, therapeutic devices, laboratory tests, etc.)
* Update for the year 2022 do.
The deductible level of a group plan is chosen by the client, which offers an interesting level of flexibility, which can range from $0 to $200 per calendar year. Similarly, the employer has the option of setting up a deductible per prescription ($1, $3, $5, $10, etc.).
Finally, the reimbursement (coinsurance) will be established from 65% and can go up to 100%. In short, it must be remembered here that a group plan cannot be less generous than the RAMQ plan.
As for the costs (premiums) of the group insurance plan, they amount to $710 per year for a single person and $1,420 for a family when dealing with the RAMQ. If you use the group insurance plan, the average costs (premiums) for the health insurance plan are shared with the employer and they are deductible for the employer as a business expense. For a single person, the costs can then vary between $700 and $900 annually and from $1,400 to $1,800 per year for a family.
Some benefits of offering a group insurance plan for your business
- the group plan is much more generous than the RAMQ in terms of health insurance coverage.
- The implementation of the plan allows your employees to cancel their RAMQ coverage, where the annual cost of the plan is $1420/family ($710/individual) and with much higher deductibles (annual maximum: $534).
