The public promise of healthcare in Canada is shifting. Governments are rethinking the healthcare model—and government spending for healthcare. Employers can expect the free universal healthcare solution we’ve come to rely on to become a thing of the past, at least the way it stands now. So what does this mean? You guessed it—this means you’ll be paying more to offer employer healthcare benefits.
To ease the impacts to your bottom line, the government will try to leverage innovation to combat the shrinking public promise. A change the private sector will most likely be impacted the most. The question is: Are you ready to address the challenges these changes bring with them and seek the opportunities within?
Your benefits plans will be exposed to rising costs in the near future and your success hinges on your willingness to prepare and reimagine your approach to employee benefits. You’ll need to find a way to immunize your plan as well as look for innovative solutions in order to stay ahead of these changes.
Your success hinges on your willingness to prepare and reimagine your approach to employee benefits.
As provinces revise their healthcare commitments, you’ll also need to consider five key trends:
- Increasing private-sector responsibilities
- Rising healthcare costs and double-digit inflation
- An aging population
- Changing employee expectations
- Innovation within the private sector
The public promise of healthcare will change soon. If you’re ready to meet the changes head-on, you’ll come out ahead. Arm yourself with the insights provided on The Future of Government Spending as part of our The Future of Healthcare series, and learn how to take action today, to weather the storm of tomorrow.
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