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SLF Sun Life Financial Inc

85.22
-0.39 (-0.46%)
17 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sun Life Financial Inc TSX:SLF Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.39 -0.46% 85.22 85.07 85.28 85.63 85.07 85.18 906,305 21:12:31

A chronic issue - disease rates climbing among young Canadians

11/12/2024 4:05pm

PR Newswire (Canada)


Sun Life Financial (TSX:SLF)
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New report finds drug claims for chronic diseases like diabetes and high blood pressure on the rise

Sun Life logo (CNW Group/Sun Life Financial Canada)

TORONTO, Dec. 11, 2024 /CNW/ - Chronic diseases don't discriminate when it comes to age. A new report from Sun Life points to more and more young Canadians being struck with life altering chronic physical conditions such as high cholesterol, high blood pressure, diabetes and asthma.

The report analyzed the drug claims data of over three million Sun Life plan members over a five-year period1. Across all age groups, almost half (45.1%) of all Canadians live with at least one major chronic disease. Diabetes is the fastest growing chronic disease with claims up approximately 30% from 2019 to 2023.

Although older plan members remain more likely to be living with chronic diseases, there is a rise among younger plan members. Between 2019 and 2023 chronic disease drug claims grew much faster for younger members compared to older age groups.

  • Claims for diabetes drugs grew 2-4 times faster among those under the age of 30 compared to those between the ages of 30 and 60 years old.
  • Claims for high blood pressure and asthma also grew at much higher rates among those less than 30 years old.
  • Claims for diabetes and high blood pressure among younger women are significantly outpacing younger men.

"This report and these alarming numbers should be a wake-up call," said Marie-Chantal Côté, Senior Vice-President, Group Benefits, Sun Life. "From absenteeism to disability, chronic disease costs the economy billions each year. That's why empowering Canadians to take charge of their health is more important than ever."

Climbing obesity rates, sedentary lifestyles, unhealthy diets, poor mental health and higher stress levels are all to blame for this rise of chronic disease among Canadians. The pandemic also contributed to worsening physical health among Canadians as people missed medical appointments and faced increased challenges to living a healthy lifestyle.

The importance of prevention and disease management support  

The time to act is now. Many chronic conditions are preventable or manageable, and workplaces have an important role to play. Employees are hungry for the support and tools to help manage their health and well-being.

"Tackling and preventing chronic health diseases requires all hands on deck. It's about creating a holistic and tailored approach to support," says Alison Chick, Senior Vice-President, Health Solutions, Sun Life. "We need to work together to ensure Canadians have access to the tools, resources, and tailored benefits they need, regardless of where they are on their health journey."

Sun Life offers a comprehensive suite of innovative health solutions to help Clients. This includes Lumino Health™ Pharmacy, provided by Pillway, which offers quick and easy access to medications and pharmacist support for employees taking maintenance medications to treat chronic conditions. Lumino Health Pharmacy also offers chronic disease coaching to help those with diabetes, asthma and chronic obstructive pulmonary disease (COPD) follow their treatment programs (currently not available in Quebec).

Helping Clients live healthier lives is central to Sun Life's Purpose of being a sustainable company. Through innovative health solutions, Sun Life is maximizing its positive impact by helping millions of Clients and Canadians with their physical and mental health. Learn more about Sun Life's commitment to sustainability.

__________

1 Sun Life data was analyzed on an aggregated, non-identifiable basis.

™ Used under license by Simpill Health Group Inc.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2024, Sun Life had total assets under management of $1.51 trillion. For more information, please visit www.sunlife.com. 

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

Media Relations Contact:
To contact Sun Life media relations, please email media.relations@sunlife.com.

SOURCE Sun Life Financial Canada

Copyright 2024 Canada NewsWire

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