Travel Insurance Rates and the US Dollar
Posted date : Nov 7, 2017.
Dear Bird Talk,
I hope that the 2003/2004 rates are going to reflect the increase in the Canadian dollar against the US$.
Thank you.
Leo Audette
Welland Ont.
Response:
The Canadian dollar is $0.7419US, at press time. We certainly hope it stays at this level, or higher, for this year’s travel season. This has a very positive impact on our rates even although we are predicting the exchange rate level several months in advance. To give you an example, last year’s rates were based on $0.64. This year I hope we can use $0.74 or $0.75. A very negative factor on rate levels is the medical inflation in the US, and this was obscene during the past year. For each day in hospital, our billed costs increased by over 40%. This can be caused by both medical inflation (hospitals increasing their prices) and by people having more severe problems than in past years. We are working very hard to have these high bills reduced and are having some success. In any event, I would take advantage of Early Bird prices as you will win either way with Medipac’s Double Guarantee.
