Your guide to travel insurance plans for Canadian seniors visiting the US

If you’re heading south of the border anytime soon or have a parent or grandparent ready to go on a trip, make sure they have the right international travel insurance for seniors before they leave. Whether for health reasons or trip interruption, this guide will go over what travel insurance plans are most suitable, eligibility requirements, and what to look for in a plan. We will also introduce you to the Wise card for getting more value for your money when you travel abroad, but more on that later!

We will be looking at:

Do Canadian health insurance plans cover trips to the US? Which travel insurance works best for senior travellers visiting the US? What are the general conditions of eligibility for getting a travel insurance plan as a Canadian? What are the most important things to verify in a travel insurance plan for Canadians? Travelling abroad? Get your Wise account and card in a few clicks Choosing the best travel insurance for a worry-free trip

Do Canadian health insurance plans cover trips to the US?

Everyone knows insurance can be tricky to navigate when it comes to travelling outside the country, and despite its proximity to Canada, the US is no exception. As most health insurance plans only operate domestically, your coverage ends once you step foot off Canadian soil. That’s why travel health insurance is so crucial—accidents happen and can come when you least expect it, and you’ll need a way to protect yourself financially in these scenarios.

There are various reasons why you should buy travel insurance, especially for seniors:

• Seniors are more susceptible to health issues and medical emergencies.
• The Government of Canada or your personal Canadian health insurance may not cover certain medical bills.
• Regardless of whether you have a health plan, it might not cover cross-country medical care.
• Even if you have some coverage, you will have to payyour medical bills until you’re reimbursed.
• Hospitals and clinics in the US are known to be costly, charging hundreds to thousands of dollars depending on the treatment required.

Which travel insurance works best for senior travellers visiting the US?

Travel insurance for seniors visiting the USA will look a lot different from standard insurance plans, as some specialty ones will cover more age-related concerns or offer more comprehensive coverage .

When choosing a travel insurance plan, consider:

• Travel duration – The longer your trip, the more crucial travel insurance with good coverage will be, as there’s more leeway for issues to arise.
• Pre-existing health conditions – Those with pre-existing health conditions like chronic illnesses or respiratory conditions should carefully review travel insurance policies, as some may have exclusions.
• Medical coverage – Consider what’s covered under the insurance plan, whether it includes hospital stays, doctor’s visits, emergency expenses, and other specific needs.
• Trip cancellation/interruption – Some insurance plans handle trip cancellations and interruptions, which is helpful if you need to cancel your trip altogether or cut it short.
• Lost or damaged luggage – Especially if you’re bringing along valuables, insuring any lost or damaged luggage will provide you peace of mind.
• Emergency medical transportation – The average ambulance ride costs around $1,300 in the US, depending on the distance of the ride, which state you’re travelling in, and the level of life support you need.¹

Let’s take a look at the most discussed travel insurance plans:

	RBC Travel Insurance for Seniors and Snowbirds2	TD Multi-Trip All-Inclusive Plan3	Manulife CoverMe Single Trip All-Inclusive Plan4
Plan type	Single + multi trip	Single trip	Single trip
Coverage	Unlimited for eligible medical expenses, direct payment of medical bills when possible	Up to a certain amount for emergency medical, trip cancellation and interruption, baggage delay, accidental death and dismemberment	Up to a certain amount for trip cancellation and interruption, baggage loss, flight and travel accident
Pre-existing conditions included?	Stable pre-existing conditions only – no new treatment, no new symptom or finding, and no investigations initiated, etc.	No – counts as an exclusion	Needs to be stable in the three months before the effective date of coverage
Maximum duration for Canadian seniors	Varies with the type of plan	Unlimited trips within a year, up to a selected maximum trip duration in a year	Coverage starts on the earlier of the departure date or the effective date and ends on the earlier of the return or expiry date
Emergency medical coverage details	Transportation provided to an appropriate facility, as well as transport for a loved one to your bedside	< $5 million for each insured individual, per covered trip for ambulance and diagnostic services, hospital fees, accidental dental coverage, and cost of emergency return home for covered individuals	< $10 million for paramedical services, emergency treatments, returns home, hospital allowance, etc.
Trip cancellation	Covered	< $2,500 for each insured individual, per covered trip	< $3,500 per insured individual per trip
Loss or delay of baggage	Covered	< $1,000 per covered trip for loss of baggage and < $400 per covered trip for baggage delay	<$100–$500 depending on the expenses

What are the general conditions of eligibility for getting a travel insurance plan as a Canadian?

There are several travel insurance plans for Canadian seniors, along with a handful of eligibility requirements, including:

• Being a resident of Canada
• Have coverage under a Canadian government health insurance plan (provincial or territorial)
• Meet a certain age criteria
• Complete a medical questionnaire

Depending on the plan, though, there may be additional requirements you have to meet, so be sure to thoroughly check the policy details.

What are the most important things to verify in a travel insurance plan for Canadians?

While we’ve gone over the most important elements of coverage, there are also aspects you want to verify before making a final choice:

• Exclusions – Some plans highlight what they do cover but not exactly what they don’t. Especially if you’ve got specific needs, be sure to read the fine print or contact the provider to double-check for any policy exclusions.
• Coverage limits – Not all plans offer unlimited coverage, especially not for every aspect. You might notice that the coverage for trip cancellation is lower than you’d like, prompting you to consider another plan.
• Pre-existing condition stipulations – Those with pre-existing conditions need to check if the plan covers their situation and whether there are clauses relating to certain conditions or stability periods.
• Claims process – Is the claims process straightforward, or does it require you to jump through many hoops? Review the processing times and whether there are direct billing options.
• Renewability for extended stays – Renewability options give you the flexibility to apply for extensions during your trip when needed. However, even if a plan offers this capability, there may be stipulations.
• Level of emergency assistance – To complement health care coverage, find out whether the policy comes with 24/7 emergency support and what kind of support is offered.

Travelling abroad? Get your Wise account and card in a few clicks

After you’ve secured your travel insurance plan, you’ll also want to tackle another tedious aspect of travelling abroad—managing your money. With low, transparent fees and a convenient Wise card to accompany you on your travels, you’ll never lose money to high exchange rates and markups from banks ever again. Wise is best known for its multi-currency account, which lets you hold multiple currencies, including USD and CAD.

If you’re travelling within the US, you can transfer money seamlessly from your Canadian bank account or card right into your Wise USD balance, and use your Wise card like a local. The platform will take care of all the currency exchange for you, using the fairest rate on the market— the mid-market exchange rate. That way, you’ll get the most value for your money every single time.

There are minimal upfront fees for international payments and transfers that you’ll be able to review before you hit the okay button, and same-currency transfers (CAD to CAD, for instance) are entirely free if sent to another Wise account. Choose Wise for cost-effective money management wherever you are in the world.

Get your Wise account and card in a few clicks 🚀

Choosing the best travel insurance for a worry-free trip

Finding the perfect travel insurance plan is essential for any traveler, but seniors face higher risk when it comes to certain issues like health concerns. Rather than opt for the first plan you see, take the time to review the ins and outs so you can spot stipulations and understand the coverage on a deeper level. With so many variations between them, you might find that some are more suitable than others. With your insurance in place, Wise can then step in to help you manage currency conversions and overseas spending to bolster your travel experience even further.

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Sources

1. VeryWellHealth
2. RBC Insurance
3. TD Insurance
4. Manulife
   Sources verified on 27 September 2024