A typical Canadian family of four will pay about $15,847 for public healthcare insurance this year, according to a study done by the Fraser Institute. .“Canadians pay a substantial amount of money for healthcare through a variety of taxes, even if we don’t pay directly for medical services,” said Fraser Institute director of health policy studies and study co-author Bacchus Barua in a Tuesday statement. .The study said most Canadians are unaware of the real costs of healthcare because they never see medical bills and governments fund the system. It estimates a family with two parents and two children with an average household income of $156,086 will pay $15,847 for public healthcare this year. .Couples without children will pay about $15,229. Single Canadians will pay $4,907 for healthcare insurance. .The cost of healthcare for the average family has seen a large increase since 1997 and risen more than household incomes. Healthcare costs soared by 210%, but average incomes rose by 116%. .“Understanding how much Canadians actually pay for health care, and how much that amount has increased over time, is an important first step for taxpayers to assess the value and performance of the health-care system, and whether it’s financially sustainable,” said Barua. .Sitting on waiting lists for surgery and medical procedures lost Canadians almost $4.1 billion in income and productivity in 2021, according to a study done by the Fraser Institute in April. .READ MORE: Medical wait times cost Canadian patients almost $4.1 billion in lost wages in 2021.Data suggested an estimated 1.4 million patients waited for medically necessary treatment last year. Each patient lost an average $2,848 because of lost wages and reduced productivity during working hours..“However, while we are constantly reminded of the consequences of COVID-19, less discussed are the consequences of unreasonable waits for surgery which can range from physical pain and psychological distress for some, to permanent disability and death for others,” said Barua.
