When you turn 65, you are automatically registered with the public plan. No action is necessary. However, if you are eligible for a private plan, you have a choice to make.
Private insurers provide 2 types of coverage:
If you have access to a private plan providing basic coverage, you must chose the insurer you wish to have. Before reaching a decision, find out what options your private insurer provides and the cost of these options.
Depending on what your private insurer offers, you may opt for:
Under certain insurance contracts, the decision to give up private plan coverage is irrevocable, meaning that you cannot change your mind later. To find out more, get in touch with your private insurer.
You don’t have to contact us in order to join the public plan; you will be automatically registered when you turn 65. You will be paying the annual premium when you file your income tax return. This premium varies according to your income and family situation. By completing Schedule K of your tax return, you will know the amount of the annual premium corresponding to your situation.
Before joining a private plan only, make sure that it provides coverage at least equal to public plan coverage. In your tax return, you will have to indicate that you have been covered during the entire year under a private plan. In this case, you will not have to pay the public plan premium.
Call us before you turn 65 to inform us that you are retaining your private insurance. We must cancel your automatic registration with the public plan.
Usually, the private plan premium increases when you turn 65 if you continue being insured under this plan. Because of this, many decide to join the public plan for basic coverage. Some will add the supplemental coverage provided by a private insurer.
Should you decide upon this combination, you have will have to pay the annual public plan premium just as a person registered with the public plan only. This is because you benefit from the same services covered.
If you have cancelled your automatic registration for the public plan and now wish to join, call us. You must also inform your private insurer.
On your tax return, you must indicate the months during which you had private insurance. You do not have to pay the public plan premium for these months.
