Wednesday, September 02, 2015

‘It’s not free’: Canadian health care insurance almost doubles in cost during last decade as average family pays $12K
...An average Canadian family pays $12,000 per year for health care insurance and those costs have nearly doubled in the last decade, according to a Fraser Institute report.

“Contrary to the way we find (health care insurance) is characterized, it isn’t free,” Bacchus Barua, co-author of the study said.

The think-tank found that health care insurance costs for all Canadians increased by 48.5 per cent to an estimated $8,205 from $5,527 in the last decade.

Health care insurance costs are also rising 1.6 times faster than the average Canadian income, the report says, leading Barua to have an issue with the system.

“When health care insurance is growing faster than income, it’s an indication you can’t sustain it,” Barua said.

The increase in health care costs are substantial when compared to the rising costs of food and shelter. The report finds that spending on shelter grew by 35.9 per cent and food costs grew by 18 per cent. Only the cost of clothing — a 64.1 per cent increase — grew at a higher rate.

Barua said many Canadians may believe health care insurance is free because they never see a bill for medical costs and it doesn’t have a dedicated tax. It is instead funded by general government revenue that is collected from multiple sources such as Employment Insurance, the Canadian Pension Plan, property taxes, sales taxes, and import duties....