A recent Fraser Institute study, “The Price of Public Health Care Insurance, 2016 Edition”, found that Health Care Insurance costs range on average for 6 family types from $3,620 (family of 1 parent; 2 children; earning $56,349) to as high as $11,795 (family of 2 parents; 1 child; earning; earning $124,493 combined).
The scary part about this is that between 2006 and 2016, the cost of public health care insurance rose 1.4 times faster than the average income…1.3 times faster than the cost of food and at roughly the same rate as shelter.
As the costs of public health care insurance increase, there will be decisions made along the way to increase taxes or to offload services onto the private sector.
Located in Cambridge, ON Sharkey Group Insurance provides independent Employee Benefits advice & counsel for Small Businesses across Ontario.