A Canadian government-backed initiative aims to make Canadians’ health care plans more flexible and affordable, and help people get access to high-quality health care through health savings accounts.
Health Minister Rona Ambrose announced Wednesday that the province will be introducing an online-only health insurance plan to help people purchase their own coverage, known as a “health savings account.”
The new system will allow individuals to choose between an employer-sponsored plan, which will pay for health care, or a health savings account that can be opened with a simple cash deposit, Ambrose said.
Health Minister Ambrose says the health savings plan will help people find and access affordable health care.(CBC)”With a health insurance exchange, individuals can make decisions on how much they need to spend on health care for their family, friends, or pets,” Ambrose said in a statement.
“With an exchange, we can better tailor the coverage to each person’s needs.”
The government’s health savings exchange, which the government launched in September, will allow people to open an account to get access and purchase health insurance coverage.
The online-focused health insurance system will provide a more flexible, streamlined way to buy health care coverage.
The online health insurance program will allow users to choose the coverage they want to purchase, including employer-provided coverage or health savings plans.
Health savings accounts, also known as “co-pay” plans, are a popular form of financial assistance for people who are not eligible for Medicaid or other government programs for low-income people.
They can also be used to purchase insurance through insurance companies and private health plans.
Under the government’s new plans, individuals will have to fill out a form to obtain their health savings fund.
Ambrose said individuals will be able to withdraw money from their account for their health care needs, but that the account will only be open to individuals who have access to a bank account.
The Health Savings Account Program, or HSA, is an insurance program created under the Affordable Care Act to help individuals buy health insurance.
Under the program, individuals may choose between employer-based health insurance plans, which pay for the cost of health care services, or health insurance accounts, which allow individuals the opportunity to withdraw their funds.
Health Savings Accounts have become popular among younger Canadians, as they offer a simple way to get insurance coverage for low out-of-pocket expenses.
Health insurers have struggled to keep up with the demand for coverage as health care costs continue to rise, and they are starting to run out of money.
The U.S. Centers for Disease Control and Prevention reported that the cost per capita of health insurance for the 18 to 34-year-old population reached $12,826 in 2014.
Health care costs are expected to continue to increase at a faster rate in the coming years.
Health insurance plans are a growing portion of health spending in Canada.
The total value of health coverage in Canada reached $2.2 trillion in 2015, according to Statistics Canada.
Health spending rose to $1.2 billion in the first quarter of this year, up 5.1 per cent from the same period in 2014, according the agency.