Understanding Healthcare in Canada
Healthcare cost is quite a challenge in many countries. You will learn that public healthcare tends to lean more on GDP. You will realize that the cost of running public healthcare is estimated to be 228 billion Canadian dollars. This is around 12% of Canada’s GDP. You will realize that the median cost to cater for a given individual’s healthcare is about 5789 dollars per year. This is quite higher than that of the UK and that of Australia. It is however almost half of what America spends on the same.
You will note that the cost of healthcare will every now and then Researchers at the Fraser Institute have actually taken time to study the cost of health in the past few years. You will find from this research that the cost of healthcare in Canada has always been on the rise. In fact, you will note that this cost has risen by about 173% in the last two decades. Such rising costs are quite unsustainable. This is quite bad news for many people in Canada. The demographic shift as well as past reviews show that the healthcare of the older ones in society will often be over five times that of the average cost of the younger patients. This is due to the fact that people tend to get weaker as they grow older. With an aging population, the government is most likely going to suffer the brunt of the pressure to take care of their health concerns.
You will learn that many people assume that healthcare is public and is catered for by the government. They are of the view that the model is much better than the one embraced in the US. You will learn that public spending caters for about 70% of the healthcare costs. The remaining percentage is handled by the individuals themselves. The government is purposing to ensure that any pending issue is fully resolved. With the developing demographics, it will be quite challenging for the government to provide free medical healthcare. You will witness that they are hardly efficiently run. They also feature long waiting lists of operation.
Even though there is a national healthcare system, you will note that there is room for separate health insurance policies. An insurance plan will assure you of more options at your disposal. You will realize that understanding a good choice of Canadian insurance can be quite a tough task. It is necessary for you to read this guide to have a better understanding. You will only be able to make a more informed decision if you are properly informed.