TORONTO – The cost of health care insurance for the typical Canadian family increased nearly 50 per cent over the last 10 years, according to a new study.
The Fraser Institute released Thursday its findings on what the cost of public health care insurance is for the typical Canadian family.
Among the results of the study, the think-tank found the cost of health care insurance for all Canadian family types increased 48.5 per cent from 2005 to 2015.
“Over the past decade, the cost of health care in Canada has grown 1.6 times faster than average income,” said study co-author Bacchus Barua, in press release.
Furthermore, the study found that the typical Canadian family (two adults, two children) will pay nearly $12,000 for public health care insurance in 2015, based on joint income of nearly $120,000.
Cost of health care insurance for different family types in Canada:
Average household cash income vs. health care insurance
Unattached individuals: $42,244 $4,222
2 adults, 0 children: $104,339 $11,767
2 parents, 1 child: $121,701 $12,055
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2 parents, 2 children: $119,082 $11,735
1 parent, 1 child: $54,821 $4,641
1 parent, 2 children: $53,209 $3,789
“Contrary to what many believe, health care in Canada isn’t free. While Canadians may not pay directly for medical services, they pay a substantial amount of money for health care through their taxes,” Barua said.A single individual can expect to pay just over $4,000, based on an annual income of about $42,000.
That study also points out that the cost of public health care insurance increased nearly 36 per cent faster than the cost of shelter and just over 18 per cent for the cost of food.
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