Advicent Insights | Healthcare costs on the rise in Canada

March 11, 2020 by Josh Grant

Healthcare costs on the rise in Canada by Advicent

about the author:

Josh Grant

Market analyst

Josh Grant is a market analyst at Advicent, the financial planning technology provider of choice for nearly 100,000 financial professionals.

Today, advisors in Canada continue to neglect healthcare research because they believe healthcare expenses to be insignificant. However, advisors have recognized that long-term care and assisted living are important factors to consider when planning for retirement.

Key findings in this Advicent Insights whitepaper include:

  • Canadians now have a better chance than ever to live more than 100 years, with the number of centenarians projected to top 78,000 in the next 50 years.
  • Healthcare costs are rising at a significant rate that is faster than the rising costs of inflation, shelter, clothing, and food.
  • Out-of-pocket healthcare expenses are a significant cost for Canadians with the most common being vision care, dental care, prescription drugs, ambulance services, and independent living.
  • Disability costs are a rising concern for Canadian seniors between the ages of 65 and 74 as nearly a quarter of these individuals will become disabled.
  • Though many Canadians believe full-time care in a long-term facility will be covered by government programs, the trust is only a small party of these expenses may be covered.

Learn more about these and other findings regarding healthcare in Canada in this Advicent Insights whitepaper:


Get the whitepaper