New Fraser Institute Research: Health care costs for the typical Canadian family will be nearly $18,000 this year

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VANCOUVER, British Columbia, Aug. 20, 2024 (GLOBE NEWSWIRE) — The typical Canadian family of four will pay an estimated $17,713 for public health insurance this year, finds a new study released today by the Fraser Institute, an independent, non-partisan public policy institute. Canadian think-tank.

“Canadians pay a lot of money for health care through various taxes—even though we don’t pay directly for medical services,” said Nadeem Esmail, a senior fellow at the Fraser Institute and co-author of Public Health Insurance Prices, 2024.

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Most Canadians do not know the true cost of health care because they have never seen a bill for medical services, they may know about the partial costs collected through taxes and employer health contributions (in the provinces that impose them), and because of general government revenue – no. special tax – funds Canada’s public health care system.

The study estimates that a typical Canadian family consisting of two parents and two children with a median household income of $176,266 will pay $17,713 for public health care this year. Childless couples will pay about $16,528. Single Canadians will pay $5,629 for health insurance, and single parents with one child will pay $5,345.

Since 1997, the first year for which data are available, health care costs for the average Canadian family have increased significantly, and have risen faster than income. In fact, public health insurance costs for the average Canadian family are rising 2.2 times faster than food costs, 1.6 times faster than housing costs, and 1.7 times faster than average income.

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“Understanding how much Canadians actually pay for health care, and how much is increasing over time, is an important first step for taxpayers to assess the value and performance of the health care system, and whether it is financially sustainable,” Esmail said. .

MEDIA CONTACT:
Nadeem Email, Senior Fellow
Fraser Institute

Bacchus Barua, Director of Health Policy Studies
Fraser Institute

To arrange a media interview or for more information, please contact:
Bryn Weese, 604-688-0221 ext. 721, drue.macpherson@fraserinstitute.org

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The Fraser Institute is a Canadian public policy research and education organization with offices in Vancouver, Calgary, Toronto, and Montreal and is affiliated with a global network of think-tanks in 87 countries. Our mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and disseminating the effects of government policies, entrepreneurship and choices on their well-being. To protect the Institute’s independence, it does not accept government grants or contracts for research. Go to www.fraserinstitute.org

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