[Survey] 32.1% of Canadians say they are dissatisfied with their health insurance premiums
Discover how much Canadians really pay for their health insurance. We conducted a survey from 1 to 31 September 2023, to which 1,762 participants responded via the HelloSafe Canada platform. Among our respondents who have health insurance, more than half spend no more than $50 on insurance on premiums every month for them and their family.
Good to know
- Less than $50: that's the amount of the health insurance premium paid by more than half (53%) of Canadians
- 50% of Canadians say they are very satisfied with the amount of their health insurance premium
- 30% of respondents find themselves in this situation and express their desire to look for an insurer offering more affordable premiums
Less than $50: that's the amount of the health insurance premium paid by more than half (53%) of Canadians
We asked our customers to tell us how much their health insurance premium was. The first thing we found was that there are surprising disparities in health insurance premiums within the same province. The most frequent monthly health insurance budgets are:
- Premiums of less than $50 for 52.9% of Canadians.
- Premiums between $50 and $100 (19.8%).
- Premiums over $150 for 18.3% of Canadians.
Source: HelloSafe's 2023 survey on health insurance in Canada
67.9% of Canadians are satisfied or very satisfied with the amount of their health insurance premium
We also asked our participants about their level of satisfaction with the amount of their premium. Among the responses, we found that :
- The majority of Canadians are satisfied or very satisfied with the amount of their health insurance premium (67.9%).
- However, there are still 32.1% of Canadian households who say they are dissatisfied or very dissatisfied with the amount of their premium.
Source: HelloSafe's 2023 survey on health insurance in Canada
Expert advice
Alexandre Desoutter, editor-in-chief for HelloSafe Canada :
"The satisfaction expressed by 67.9% of Canadians with their health insurance bears witness to the intrinsic value of a health system that aims to preserve the collective well-being, and in which our fellow citizens seem to have confidence. However, this statistic also reminds us of the need for constant reflection and improvement to meet the diverse expectations of the population and guarantee equity and efficiency in access to medical care. In this sense, it is very important that the match between the prices offered and the extent of cover is the best possible".
Only 30% of respondents say their desire to look for an insurer offering more affordable premiums
Among the reasons why policyholders might consider changing insurance companies, the amount of the premium is often cited as being too high. In fact, 30% of respondents find themselves in this situation and express their desire to look for an insurer offering more affordable premiums. However, 70% of Canadians do not want to change their health insurance for this reason, or because they are satisfied with their current insurer.
Among those Canadians who are considering changing their health insurance company, 64% have already switched insurers, while the remaining 36% have not yet made the decision.
Source: HelloSafe's 2023 survey on health insurance in Canada
Methodology
In addition to its expert editorial line around insurance and financial products, HelloSafe explores broader topics relating to global consumption in Canada and around the world. The aim is to decipher certain complex subjects for consumers and to provide everyone with the latest information. It is within this framework that HelloSafe regularly carries out studies on trends relating to current personal finance in Canada.
This document was drawn up on the basis of a survey carried out between 1 and 31 July 2023 among 1,762 people living in Canada via the HelloSafe Canada platform, based on a representative sample of Canadian society. The sample selected answered questions about their health insurance premiums.
About HelloSafe Canada
HelloSafe is a leading platform for comparing financial products (insurance, credit, investments) in Canada. Powered by its unique and powerful technology, HelloSafe provides users with dozens of free and anonymous comparison tools, calculators and expert, up-to-date content. Its platform empowers users to make the best decisions for their wallets and find the right products at the right prices for them.
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Alexandre Desoutter
Head of PR
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