Crippling insurance costs

Snowman9000 wrote:
Very interesting information. Is this already factored into the occupancy percentages at snowbird parks, or is this a new problem? If new, is Canadian business expected to drop more than it already has?

I asked around some while in AZ last year, and heard several stories about Canadians selling out just due to the exchange rate. I did not hear the insurance problem mentioned.

The insurance problem is not new and gets to be more of a factor as you age. My wife's premiums went up 35% this year due only to the fact that she had the nerve to turn 71.

The exchange on the dollar is a big factor for a lot
of Canadians. The dollar might sit at .75 cents but
the banks charge their fee for buying the US dollar.
In reality the exchange rate then becomes 30 cents on the dollar.

If a park charges $600/month US then it is equal to $780 Canadian.

The cost of food is roughly the same except it is in US dollars.

We get our big break in the fuel savings and of course liquor.

I just did some comparison shopping between Medipac, Blue Cross, BCAA and Good Sam's travel insurance. Good Sam is way cheaper for good coverage. I did not believe it so I asked the lady to email over the list of questions to make sure I did not answer incorrectly. I found each company does it a bit differently.... eg: Good Sam asks about fibromyalgia and osteoporosis whereas the other 3 companies do not not have those in their questionnaires.

As I am hearing it looks as if insurance costs will rise for everyone this year. If you are an american and are using a supplemental policy to your Medicare expect big increases. One of my friends will have to pay double for his spouses Blue Cross and almost triple for his. I can imagine the Canadians will be feeling the cost increases in a big way as well. This may push some over the budget for US travel.

Dog Trainer wrote:
As I am hearing it looks as if insurance costs will rise for everyone this year. If you are an american and are using a supplemental policy to your Medicare expect big increases. One of my friends will have to pay double for his spouses Blue Cross and almost triple for his. I can imagine the Canadians will be feeling the cost increases in a big way as well. This may push some over the budget for US travel.

Combined with the high exchange rate of the Canadian dollar it has pushed DW & I over the edge. I just returned from San Benito, Texas were I have reluctantly put out place at Fun N Sun up for sale.

I have had BC&BS for more than 30 yrs and my agent manages to find the lowest cost options for travel outside the country.https://www.geobluetravelinsurance.com/product_overview.cfm
Also look at:
https://www.travelguard.com/travelinsurance/travelmedical.asp

....and interesting article in the Toronto Star (the article was in 2015, however it is even more relevant in 2016):

About 500,000 Canadians own property in the U.S., and 750,000 of us visit Florida each winter. A big part of the how-long-to-stay decision is the cost of insurance. Last year, premiums were 10 to 12 per cent higher than in 2013.

This year, expect another 12 to 15 per cent jump, says Alex Bittner, president of the Travel Health Insurance Association of Canada, an industry group.

So, summing, add the 2013 health travel insurance increase of 10% to 12% to the 2014 increase of 12% to 15% to the 2015 increases of perhaps the same, to the 2016 increase of roughly the same....+ + + +....now, + the coming 2017 of God knows what increases (!!), and it looks like US travel (for anything but short week or two long forays) for most of us will be nearly out of the question in the very near future.

The article mentions that the only alternatives for Canadians traveling to the now nearly unaffordable US, is to substantially shorten your US stays, or travel to any destination other than the US, where the exchange rates are more amenable, prices are cheaper for everything, and the big one, where the health travel insurance is dramatically less expensive.

silversand wrote:

The article mentions that the only alternatives for Canadians traveling to the now nearly unaffordable US, is to substantially shorten your US stays, or travel to any destination other than the US, where the exchange rates are more amenable, prices are cheaper for everything, and the big one, where the health travel insurance is dramatically less expensive.

Agreed.
The price of insurance alone covers our air fare to Europe.
Instead of three months down south we take a month of B&B overseas in early Spring. Not the same but it works for us.

Not only have insurance costs increased many of the policies are restrictive. 2 years for pre existing conditions is one example. Most insurance companies use a 3rd party company to handle all the claims. These outfits sometimes border on being fraudulent or dishonest. They hire minimum wage new Canadians to man the phones with no training. These persons sit in front of a computer and simply enter your info. Then they read you a bunch of nonsense that gives them a CYA. Some never call you back. They "lose" papers. Claim they never received your medical claim. At one time the insurance companies had an RN on staff to give you advice on treatement options. These "claims processors" probably get a bonus if they find a way to refuse your claim, Shameful !

Moisheh

The article mentions that the only alternatives for Canadians traveling to the now nearly unaffordable US, is to substantially shorten your US stays, or travel to any destination other than the US, where the exchange rates are more amenable, prices are cheaper for everything, and the big one, where the health travel insurance is dramatically less expensive.

Agreed.
The price of insurance alone covers our air fare to Europe.
Instead of three months down south we take a month of B&B overseas in early Spring. Not the same but it works for us.

Honestly, I don't think you're going to get much sympathy from your neighbors to the south. Very few here can retire prior to 65 because the cost of health care would drain our savings in no time at all.

When the dollars were at par it was hard to see 50 something Canadians buying (and driving up) the prime real estate here in the US. The nice RV parks were full and hard to get into. The free parks along the Natchez were full and it was hard to be evenly neighborly for us since most of us can't speak French. Even our daily walks along the beach with a smile and a "good morning" were met with an icy stare because we failed to say "Bonjour."

So yes, it does sound like the party might be over for awhile for our northern neighbors. Hopefully your housing bubble won't cause more undo stress on your economy. They are predicting a 20% chance of a recession here in the next 12 months. So maybe our pain will once again be your gain.