Canadian middle class faces growing burden of healthcare costs
September 30, 2013
None of us wants to think about someone we love suffering from a significant health event or serious diagnosis. But if the unthinkable happens, we expect that universal, high-quality healthcare will be there when it is needed, where it is needed.
Unfortunately, many Canadians face the challenges associated with additional costs, not covered by the public healthcare system, including the costs of medications, physiotherapy, home retrofits, as well as lost salary and wages.
A report released by Sun Life Financial today notes that 4 of every 10 Canadians – and over 50 percent of those of prime working age – who are diagnosed with a serious illness or experienced a major health issue, suffer financially as a result.
This is a significant problem for middle class Canadians who are already feeling squeezed by shrinking wages, the pressing need to save for retirement, and having to care for children and elderly parents n. A serious diagnosis or health event can increase that financial stress exponentially.
Many have dipped into retirement savings to offset these costs. Those who do not have sufficient savings – and the report suggests that as many as 81% of Canadians fall into this pool – racked up huge credit card debt, refinanced their homes, or in some cases have had to sell their homes and downsize to pay for these unexpected expenses.
It should not be this way. The purpose of the healthcare system should be jointly to improve the health of Canadians – thus reducing preventable, costly illnesses in the first place – and to provide a high level of care without the imposition of a financial burden.
These were the goals of the 2004 Health Accord. The federal government committed to working with the provinces to invest in health promotion and disease prevention to keep people healthy through the development of community care clinics and healthcare teams, and to develop a National Pharmaceuticals Strategy to keep the costs of prescription drugs down and ensure their safety and efficacy. That plan was jettisoned in the early days of Stephen Harper’s Conservative government.
The result? Canadians are feeling the financial pinch, during one of the most stressful times in their lives. It should be the job of the federal government to ensure that out-of-pocket healthcare expenses are kept as minimal as possible.
We are deeply concerned by the increasing cost of healthcare and other mounting economic pressures on the middle class. That is why we are continuing to reach out as broadly as possible, using every tool at our disposal, to ensure that the solutions the Liberal Party of Canada puts forward will effectively address the many economic challenges facing Canadian families and create the conditions for a thriving middle class.
Dr. Hedy Fry, PC, MP
Liberal Health Critic