Insights Episode 15: Canada’s Aging Population: Who Pays and Who Acts?

Canada’s Aging Population: Who Pays and Who Acts? 

Don Drummond and Duncan Sinclair

 

There is a common misconception that if the government pays for a service, whether federal, provincial or municipal, then it is free to Canadians. It is not!

The people of Canada will pay: as taxpayers, through premiums paid for LTC insurance, directly out of their savings and their families’ earned income and as donors to the charitable organizations that sponsor or subsidize support services for the elderly. The only issue in question is what the division will be among these several ways of meeting the bill.