Canadian Health Insurance
Healthcover.ca can offer you
types of Canadian health insurance plans to Canadians. We offer group
and individual plans. One thing all health insurance plans share in
Canada is high inflation. While general inflation in Canada may be
around 3 to 4%, inflation in the healthcare sector is currently 15 to
20% per year. The health trend factor is a culmination of all the rends
in overall utilization, inflation and cost shifting between the private
and public sectors. The trend factor is used to predict claims as
closely as possible for the new policy year.
There are several key factors that
increase the cost of providing health and dental insurance. These cost
drivers influence healthcare trends by increasing the overall frequency
of health claims, by increasing the cost of each claim, or both.
Health Care Cost Drivers
The two main aspects of claim cost increases are utilization and claim
The cost drivers that affect the increase in utilization and the cost of
The cost of an aging population: As employees age, their annual claim
costs increase with prescription drugs being the most significant driver
of age-related costs.
Drug utilization is closely associated with aging. Older plan members
likely to be chronic users and will use the drug plan much more often
Cardiac, antilipemic and hypotensive drugs are much more common at older
and are also considered the most expensive drug therapies.
related to aging cannot be treated effectively with lower cost
Trends towards using new drug therapy as an alternative to surgery.
New diseases are discovered and new drug therapies are
Old diseases can be treated with new drugs, where there existed limited
Next to drugs, paramedical services comprise the next largest expense
Extended Health Care plan.
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