Myth: The aging population will overwhelm the healthcare system.

The proportion of Canadians over 65 is increasing. The elderly need more medical services than younger people. Put together, these snippets of reality conjure up a familiar image, where healthcare costs of the aging population in Canada balloon until the system gets blown away. Despite that intuitive assumption, things don’t quite work that way. Healthcare costs don’t go through the roof just because there are more seniors. The real issue is with changes in the number and nature of medical services for elderly patients.