Self-employed Canadians, retirees face rising healthcare costs, benefits gaps – Greenshield

Concern growing over access to affordable coverage and care

Self-employed Canadians, retirees face rising healthcare costs, benefits gaps – Greenshield

Insurance News

By Josh Recamara

The findings highlight shared concerns about access to affordable coverage and care during significant life transitions. 

According to the survey, 65% of self-employed respondents view being their own boss as a key benefit, and 61% appreciate the flexibility of their schedules. However, over 33% reported concerns about health care, citing inadequate coverage and high costs as major issues. 

Key findings for self-employed Canadians include: 

  • 52% have a health care benefits plan, either independently or through a spouse. 

  • 86% view mental health support as important, but 66% of those without coverage say they cannot afford it. 

  • Challenges include irregular income (51%), stress and anxiety (51%), burnout (33%), and isolation (25%). 

  • 53% find the process of seeking and applying for health coverage complicated or confusing. 

  • 43% are concerned about accessing health care as they age, and 39% worry about addressing future health issues. 

For Canadian retirees, health concerns are also a top priority. While 64% value the relief from work-related stress and 63% appreciate the freedom to manage their schedules, nearly half find the aging process challenging.  

Health concerns remain a significant factor, with many retirees reporting difficulty navigating healthcare options. 

Key findings for retirees include: 

  • 63% are concerned about accessing health care to address age-related issues. 

  • 54% worry about addressing potential health problems. 

  • 60% value comprehensive benefits coverage. 

  • 76% consider mental health support important, but only 21% say they can afford it. 

  • 25% sometimes forgo health care services to save money. 

Addressing evolving needs of self-employed and retired Canadians  

JP Girard, executive vice president and head of GreenShield Insurance, emphasized the importance of accessible health care.  

“These findings paint a picture of self-employment and retirement as major life milestones that can be both exhilarating and challenging as individuals navigate new financial and lifestyle realities,” Girard said. 

“As the number of self-employed and retired Canadians continues to grow, it is essential for Canadians to have convenient access to health coverage and care that truly supports their needs,” he added. 

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