Thursday, August 27, 2009

How much does medicare cost you?

Thanks to the Fraser Institute, you can now know.

Dividing the Canadian population into 10 income groups (income figures are pre-tax) shows what families from various income brackets paid for public health care insurance in 2008:
- Average cash income of $11,309; $389
- Average cash income of $24,271; $1,076 paid for public health care insurance
- Average cash income of $32,866; $2,214 paid for public health care insurance
- Average cash income of $41,637; $3,449 paid for public health care insurance
- Average cash income of $51,298; $4,862 paid for public health care insurance
- Average cash income of $64,415; $6,245 paid for public health care insurance
- Average cash income of $78,430; $7,750 paid for public health care insurance
- Average cash income of $96,217; $9,873 paid for public health care insurance
- Average cash income of $122,321; $12,877 paid for public health care insurance
- Average cash income of $232,739; $29,575 paid for public health care insurance

Looking at common family types, this calculation finds that the estimated average payment for public health care insurance in 2008 was:
- $9,572 for the average 2 adult family
- $9,855 for the average 2 adult and 1 child family
- $10,191 for the average 2 adult and 2 child family
- $3,484 for the average unattached (single) individual

It is critical to recognize that these estimates count only the direct costs of Medicare. They do not count administrative costs subsumed by other government departments that support health care through activities such as tax collection, or other privately borne costs related to the financing and operation of Medicare such as tax compliance or the private burden of waiting for health care.

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