NBHC Sustainability
October 31, 2017
A report from the Fraser Institute predicts that by the year 2045, government healthcare costs with be 57% higher than they were last year, due to an aging population. The think tank bases that estimate on projections showing people 65 or older will constitute one-fourth of the nation's population by 2063 and on the fact that healthcare spending on the elderly is typically 4.5-times greater than those aged 15 to 64. For example, the institute points out that in 2014, governments spent $11,625 per senior compared to just $2,664 for younger patients.