If being sick doesn't kill you, the medical bills might. Imagine getting better and being bankrupted for it. Facing the prospect of financially devastating medical bills is a reality many Americans know isn't going away. But a newly announced partnership between B.C. startup FundRazr and leading US provider of healthcare information Healthline.com may just save them from financial ruin.
Canada's health expenditures as a share of the economy are, after accounting for our younger population, higher compared to every other developed nation with universal health insurance. Yet Canadians endure some of the longest delays for emergency care, primary care, specialist consultations, and elective surgery in the developed world.
New medicines are a central component of modern medical care. Unfortunately for Canadians, our federal government takes an approach that is slower than others, unnecessarily costly for taxpayers, and is ultimately of questionable benefit to Canadians. Canadian approvals for market access to new drugs take longer than similar approvals in both Europe (under the European Medicines Agency) and the U.S. (under the FDA). Specifically, the median approval time was longer in Canada than in the other jurisdictions in four of the past five years. But would faster approval of new drugs expose us to greater risk? Perhaps.
How did you end up paying for my teeth cleaning? My private health insurance plan reimburses me for dentistry and optometry, as well as prescription drugs and other health care services. But health insurance premiums aren't taxed the way the rest of income is. People without private health insurance are disadvantaged the most by the private health insurance subsidy. They have no private health insurance themselves, yet they still end up subsidizing everyone else's coverage.