What do health benefit plans do for Canadians?

Canada’s life and health insurers help millions of Canadians access the care, support, and coverage they rely on every day. From prescription drugs, vision, and dental care to mental health support and preventive services, workplace health benefits help Canadians live healthier, more affordable lives. At the same time, the industry invests in infrastructure across the country, helping build stronger communities and support long-term economic growth.

You might not always see it, but health benefit plans make a difference every day.

For millions of Canadians, workplace health benefits help make everyday care easier to access and afford. They help people take steps to stay healthy, find support when they need it, and get coverage for services that often fall outside the public system.

Canada’s life and health insurers provide benefit plans used by 27 million Canadians, helping people across the country care for themselves and their families year-round.

Supporting health. Reducing strain.

Canada’s life and health insurers play a critical role in helping Canadians get the care they need, while also reducing pressure on Canada’s health care system.

In 2024 alone, our industry paid out a record $143.3 billion in total health benefits, including $53.3 billion for health, drug and dental care. These benefits supplement the public system, covering everything from prescription medications and mental health supports to preventive care and wellness services. Insurers also help Canadians access care in more flexible and convenient ways, including virtual care, digital health and wellness platforms, fitness and nutrition programs, and health education tools that make it easier to manage their well-being proactively.

Investing in Canadian growth

Canada’s life and health insurers are long-term investors in the country’s future, with over $1 trillion invested, supporting economic growth and resilience and creating well-paying jobs.

$40 Billion
Invested in domestic infrastructure.

$111 Billion 
In provincial, territorial, and municipal bonds.

$25 Billion 
In federal government bonds.

Nearly 180,000 
Canadians employed across the industry.

$6.8 Billion 
In taxes paid annually.

 

Canadians are facing rising costs. Health benefits matter now more than ever.

For many Canadians, workplace health benefits help cover the care they count on every year. Today, 91% of health insurance in Canada is purchased through group plans, and 85% of health insurance premiums are paid back out as benefits to policyholders.

These plans are an essential part of how people manage their health and household costs.