Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately

Two-Tier Healthcare

Synonyms:private healthcare
Filed Under: financial-banking, insurance, legal-contracts, taxation
Tags: banking, contract, health, insurance, legal, taxes

Definition of two-tier healthcare

two-tier healthcare
1. A healthcare system where everyone can access a basic publically-funded healthcare program but for those who can afford it, they can access a more robust level of heath care with better care or faster access. There are different schools of thought on two-tier healthcare. Proponents hold that those with the means should be allowed access to the health care services they want, whereas those with the opposite opinion believe that healthcare access should be based on a patient's needs, not their ability to pay.

Related Terms and Acronyms:

  • Health and Welfare Trust (HWT)   A method for employers to offer their employees tax-free health benefits.
  • health insurance (HI)   Insurance that covers the costs of medical expenses for insured persons.
  • healthcare plan   Insurance that can cover medical and dental expenses for insured people.
  • medical specialist   A doctor with training in a specific medical field.
  • private health services plan (PHSP)   A method for businesses to provide health benefits for their employees that is both tax deductible for the business and non taxable for the employee.
      ➥  Provides tax-deductible health and dental benefits in Canada.
  • private healthcare   Health services no provided by the government, often paid out of pocket.
  • universal healthcare   A system for providing healthcare free to patients at point of use.
  • waiting period   The amount of time that must pass before something occurs.

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