Healthcare for an Aging Population: Prince Edward Island's $14 Billion Healthcare Glacier
11 Pages Posted: 4 Jul 2013
Date Written: February 27, 2013
“In 2007–2008, comparable health care expenditures stood at $425 Million. Since then, these costs have grown 7 per cent annually… [S]tatus quo growth of 7 percent per year in health care spending is simply not an option. The more we spend on health, the less we are able to address the other needs of Islanders. This fiscal pressure must and will be addressed.” 2012 Prince Edward Island Budget Address (p. 8-9).
Prince Edward Islanders carry a $14 billion fiscal burden – the higher tax bill for increased healthcare costs over the next half-century – and should prepare now for the coming demographic squeeze, says a report released today from the C.D. Howe Institute. In “Managing Healthcare for an Aging Population: Prince Edward Island’s $14 Billion Healthcare Glacier,” authors Colin Busby and William B.P. Robson recommend that the province prefund selected healthcare services and benchmark against other provinces to get better health bang for their tax bucks.
Keywords: Healthcare, Social Policy, Health Policy, Aging Population, Prince Edward Island
JEL Classification: I10, I18, H51
Suggested Citation: Suggested Citation