Aging Canadians and the Impact on Health Care Costs

In 2010, 4.8 million Canadians were seniors. Based on the established growth rate, that number will steadily climb to about 10.4 million in the next 20 years.

By 2031, all members of the baby boom generation will have reached the age of 65. The issue of whether or not Canada’s health care system will be able to meet their medical needs as time goes on is a significant concern. Canada’s health care system may very well have to change and adapt itself to adequately fulfill the needs of seniors.

Even though the elderly make up only 14% of the population, they incur about 45% of provincial and territorial health care expenditures. Today’s seniors are living longer than those of previous generations, a fact that has shifted the Canadian demography to an older population. Aging brings about limitations and chronic conditions that increase health care costs.

We need to think about how well we’ll do in the future under the existing public health care system. More and more seniors are relying on retirement savings and other income sources to help pay for medicines, treatments and/or services not covered by the government program.

Fortunately, there are health insurance plans available that focus on fulfilling the needs of baby boomers and seniors. Such policies include coverage for things like orthotics, home care, medical equipment, hearing aids, and hospital benefits.

Alternative Medicine on the Rise?

Over 5 million Canadians seek out alternative or complimentary health products and treatments, and most of them pay out of pocket, which amounts to about $2.35 billion per year.

Why are Canadians turning to alternative treatments and natural medicines? Well, many of us have become a little skeptical of conventional drugs due to the widely publicized warnings of their potentially harmful side effects. Although most natural health products and traditional Chinese medicines don’t have scientific data to back up their safe use and effectiveness, they often have a well-established history of beneficial outcomes and testimonials accounting for their usefulness. Some remedies are based on more than 2,000 years of practice. 

Research

The amount of research generating evidence regarding ancient natural Chinese medicines and treatments is growing. The National Institute of Health, a research funding agency in the United States, is compiling data to support their worth.

• Health Canada created the Natural Health Products Directorate in 2004, regulating natural health products to ensure that Canadians are purchasing safe and high quality products.
• Ontario saw legislation pass in 2007 that required the regulation of practitioners of naturopathic medicine and homeopathy, as well as a number of traditional Chinese medicines and treatments, including acupuncture.

However, in the end, one has to question to what extent these regulations will benefit the patient when the high costs for setting up bureaucratic infrastructure and practitioners’ licensing fees will most likely be recouped by increasing the costs for already expensive health products and services.

Keep Doctors in the Loop!

Since natural or alternative therapies can be sought out without a prescription, it is advised that patients going that route provide full disclosure to their doctors of the natural products or healing therapies they are using. Medicines can sometimes interact in a negative way and cause health issues. Herbs and vitamins have been known to interact negatively in about 25% of patients undergoing chemotherapy.

Enhanced Health Insurance Coverage

Many Canadian health insurance companies now offer enhanced health insurance plans that include coverage for treatments by registered specialists and therapists including acupuncturists and naturopaths.