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Trends and directions in Canadian health care, dental care and disability

2024 Financial Benchmarks Survey

August 7, 2024

This survey provides plan sponsors with key benchmarking data on drug, health and dental care costs and trends, long-term disability premiums and trends as well as approaches used by high performers.
Health and Benefits|Benessere integrato
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Trends and directions in Canadian health care, dental care and disability

 

Health and dental care costs increased significantly in 2023

Trends were higher than general inflation in 2023, with a lagging effect as inflation decreased.

  • Drugs: +5.4% up from 4.3%
  • Other health care: +12.6% up from 3.6%
  • Dental: +6.7% up from 1.6%
  • LTD: +4.9% down from +8.8%

High trends reflect higher costs for supplies and services, including dental fee guides, increased utilization, as well as many employers enhancing coverage, especially paramedical services.

Overall Health Care (Drugs and other Health Care): +8.5% up from 4.0%

The average 2023 per capita costs for each category varies significantly between organizations*

  • Drugs: $1,205
  • Other Health Care**: $852
  • Dental care: $1,132
  • LTD: $1,279

Trends for mental health practicioners’ services continue to be the highest of all paramedical services, increasing by more than 50% over 2 years

Overall Health Care (Drugs and other Health Care): $2,057

* 2023 average per capita costs.

**Although lower than the other categories, the per capita cost for other health care continues to increase.

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Source: WTW 2024 Financial Benchmarks Survey, Canada

Copyright © 2024 WTW. All rights reserved

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