this post was submitted on 24 Jan 2025
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Looking at that number made me think that it can’t be right unless the company has many customers (much more than Canada’s population) for it to make sense.
Looked it up, and they have 52 million customers.
So they make sooo much money from 52 million people that they have this amount to spare that would cover 40 million.
Yeah, holy shit.
Edit:
Honestly, they didn’t even lose that much:
It is even wilder when one considers how challenging the Canadian Healthcare System actually is to run. They are on the hook to provide every citizen duty of care over a landmass 1.6% larger than the entire US. It regularly employs helicopter ambulances for access to remote communities and has exceedingly challenging terrain and despite this Canada has lower infant mortality, maternal mortality and longer life expectancy outcomes. On the Numbeo Health Care index which ranks quality of care, doctors and facilities it outpaces the US on that metric too. The Government run Medical Services Plan also covers partial on things like Massage Therapy visits, physio appointments and various services covering based on income so more people have access to those services at affordable prices.
It does all of this on an income tax base that charges 4% less than that of the US. It's a monumental effort keeping it afloat. The amount paid to insurers in the US, not even the system just insurance is just mind-boggling from a Canadian perspective.