Canada is all in for medicare, not just those 65 years of age. Most Canadians receive their healthcare coverage through public funding with spending decisions made at the province level. Most care is free for those who need it, with no money out of pocket.
The government pays for approximately 70 percent of health care, the other 30 is private spending which consists of prescription drugs, optometry and dentists. Most Canadians enroll in private insurance in order to cover this 30 percent, and majority of them receive this through their employer.
Most hospitals are funded publicly, which keeps them under a budget and controls spending. Doctors, however, operate under a fee-for-service basis for the most part. This is the single pay system, where spending is public and delivery is private.
Drugs are negotiated at a Federal level here, so spending is controlled through this.
Drawbacks?
Wait times. Canada is known for having long wait times for doctor visits, and especially for elective surgery and specialist visits.
But with these drawbacks are reasons for them. They believe that there is no need to have optional MRI’s done for patients quickly. Canada wants to spend their money on things that are more important.
Comparison
Both countries are successful and have systems that work, both do it differently. America exceeds in lower patient wait times, surgery prices and it’s inability to get all citizens insured. Canada covers everyone automatically at birth and stays with you through the entirety of your life, controls profit margins in the health industry, and no one dies due to lack of health insurance.
Sources:
Healthcare 