October 30, 2020
On October 30, 2020, The Conference Board of Canada, in partnership with the Council of the Federation, released a new study on health care cost drivers in Canada. The study confirms that the COVID-19 pandemic has already had a significant impact on Canada’s health care sector.
Projections conducted prior to COVID-19 suggest that health care expenditures would increase steadily over the next 10 years. Based on the level of new expenditures already incurred by governments, COVID-19 represents a significant new cost driver that will further impact health care spending, particularly over the short to medium terms. Looking ahead, total health care expenditures are projected to increase at a pace that far exceeds the rate of growth of the Canada Health Transfer.