Affordable Health Insurance in Canada (2026): Cheapest Plans & Best Value

TL;DR What is the most affordable health insurance in Canada?

The most affordable health insurance in Canada starts at under $10 per month, but these plans typically cover emergency medical expenses only. For plans that include prescription drugs, dental coverage, and vision care, affordable health insurance typically costs $60 to $150 per month, depending on age, location, and coverage limits.

Here’s a quick rundown of some of the cheapest health insurance plans in Canada. 
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Most affordable health insurance plans in Canada (2026)

It’s technically possible to get private health insurance starting at less than $10 per month (GMS’s Basic Plan), but this doesn’t include drug, dental, or vision care. This is more of an emergency medical care plan, with several optional add-ons.

We reviewed the 18 largest health insurance companies in Canada (and over 40 individual policies) and rated each health insurance product’s cost and flexibility. Then, we combined the data with customer service reviews and industry reputation markers. The results reveal the perfect sweet spot between the cheapest and the best health insurance in Canada.

The cheapest health insurance plans in Canada

If you’re looking for the cheapest health insurance plans in Canada, you’ll find the lowest prices with three plans from GMS, GreenShield, and Sun Life.

Each of these plans have low premiums but limited coverage. With GMS’s Basic Plan, you essentially pay for paramedical coverage and some small emergency benefits, while GreenShield’s ZONE 1 covers paramedical services and mental health.

^{*  Premiums reflect the approximate monthly cost for an 18-21-year-old adult living in Canada.}

Match your health insurance to your needs

If you’re in good health overall, a budget medical insurance plan could be a good fit. If you don’t need vision care, are comfortable paying for dental checkups out of pocket, and don’t take any routine prescriptions (or have them covered by your provincial plan), you might be a good fit for one of the plans above.

Best low-cost health insurance for freelancers

Sun Life, GMS, and GreenShield offer some excellent low-budget health and dental plans that may fit the needs of freelancers in Canada. 

Self-employed Canadians often miss out on the group health benefits usually provided by employers, but they may still need to supplement the health coverage provided by provincial plans. Depending on your personal health needs, prescription drugs, vision care, or dental insurance may all be priorities; the plans below can meet all or some of those needs. 

^{* Premiums reflect the approximate monthly cost for an 18-21-year-old adult living in Canada.}

Best budget-friendly health insurance for families

For families, the best affordable health insurance plans are complete medical insurance policies from PolicyMe, Manulife, and Canada Life that include coverage for all major healthcare areas not covered by public insurance. 

Below is a comparison of the cheapest health insurance plans in Canada that include drug, dental and vision coverage. Prices shown are for an 18-year-old non-smoker.

^{* Premiums reflect the approximate monthly cost for an 18-21-year-old adult living in Canada.}

Best affordable health insurance for seniors

GreenShield, PolicyMe, and Canada Life offer some of the best affordable medical insurance options for Canadian residents aged 60 and older. 

Seniors’ private health insurance needs depend in part on provincial healthcare programs, which may extend additional benefits like prescription drug coverage to residents in their 60s and beyond. Check your province’s public healthcare plan to see if you have existing coverage for common aging health needs, such as prescriptions, vision care, physiotherapy, and more. 

^{* Premiums reflect the approximate monthly cost for a 60-year-old senior living in Canada.}

Is cheap health insurance worth it in Canada?

Cheap health insurance in Canada is worth it if it meaningfully reduces your regular, out-of-pocket spending on health care.

Consider the cost-vs-risk aspect:

• A $15/month plan is cheap, but it only covers emergencies. You still risk high out-of-pocket costs for regular healthcare needs.
• A $40/month plan is still affordable and will help lower your everyday health expenses like vision, dental, prescriptions, mental health, and other paramedical services. 

Remember: cheapest isn’t always best. In other words, if you have ongoing healthcare needs, then a too-cheap plan (or no plan) means you could still end up spending hundreds or thousands out of pocket. 

A low-cost plan may not save you money if its coverage caps are lower than what you actually spend. 

The right plan should save you money by minimizing out-of-pocket spending, not just by lowering your monthly premium.

“Usually, any plan that covers north of 75% of the health expenses is considered a strong plan.” —Andrew Ostro, CEO & Cofounder, PolicyMe

Average cost of affordable health insurance by age

Private health insurance plans differ by age and tend to get more expensive as you get older. Here’s a look at the average monthly cost of PolicyMe’s affordable mid-tier plans based on your age group:

Average cost of affordable health insurance by province

Health insurance costs vary based on where you live due to differences in medical costs across the country. Here’s a look at the monthly cost of PolicyMe health insurance plans by province for 18-year-old adults:

How to find affordable health insurance in Canada

You can find affordable healthcare coverage for you and your family by following three easy steps: 

1. Add up your annual health costs
2. Review your existing coverage
3. Shop around

By the end of this section, you should have a better idea of what sort of health insurance plan you need and where to start looking for it.

Step 1: Add up your annual medical expenses

Finding the right health insurance plan is crucial to saving money. Once you add up the cost of every prescription drug, professional visit, and pair of glasses you paid for out-of-pocket last year, you can see exactly how much coverage you need—and how much coverage you don’t. 

For example, if you spent $982 on prescription medication last year, you probably want a plan with drug coverage and a yearly maximum of at least $1,000. But if you’ve been blessed with great teeth and your partner is a dentist, you can probably skip dental care.

Add up how much you spent last year in each of the healthcare categories mentioned at the top of the page. If necessary, do the same for your partner or dependents before moving on to step 2.

Step 2: Review your existing health coverage

There’s no point in paying for what you already have, and chances are your provincial health insurance plan already supplies some or all of your needs. You may also receive coverage through a group benefits plan sponsored by your employer or trade association.

Take a look at your province’s plan or your group health insurance paperwork and compare it to your expenses. If you find that a significant amount of your or your family’s health expenses aren’t being met by public or group healthcare, it’s time to move to step 3. 

Step 3: Shop around

Once you have an idea of the type of health insurance plan you need (and whether it includes drugs, dental, vision or a combination of all three), you can start comparing health insurance quotes. Find at least three plans within your budget, then take a look at a sample health insurance policy and carefully note the inclusions and exclusions. 

Does it cover the drugs, services, and medical professionals you need? Does it provide enough coverage to erase most of your health expenses, even after you pay the deductible? Does your favourite drugstore and masseuse accept this type of insurance?

Next, it’s time to look at the scores for health insurance providers on Google, Insureye, Trustpilot and the Better Business Bureau. Positive customer reviews indicate easy claims, quick reimbursement, and flexible coverage, all of which boost your satisfaction. 

P.S. You can save additional money by bundling multiple policies, so now is the perfect time to consider life insurance plan options and critical illness insurance coverage, too. 

FAQ: Affordable health insurance in Canada

Prices listed on this page are based on information available as of March 2026. The prices shown are for general reference only and may vary based on factors like your age, location, and product selection.