Management and Organizational Studies 2277A/B Chapter Notes - Chapter 9: Canada Health Transfer, Critical Illness Insurance, Disability Insurance

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2277A/B
• Professor: Barry Hawn

Document Summary

Health and life insurance: background on health and life insurance, health insurance: a group of insurance bene ts provided to a living individual as a result of sickness or injury. Includes medicare, private health care, disability, critical illness and long-term care: life insurance: insurance that provides a payment to s speci ed bene ciary when the insured dies. Canada"s health care system: medicare: an interlocking system of ten provincial and three territorial health insurance plans provided by the governments, including the federal government. !1: universality, plans must entitle all insured personas to health insurance coverage on uniform terms, portability, plans must cover all insured persons when they move to another province within. Generates savings for everyone by buying it all collectively instead of a per person basis: group plans provide added protection beyond what is provided by the governments, from the employers perspective: Provides owners with the opportunity to write off premiums as business expenses.