A typical Canadian family of four will pay 11,735 CAD (8,920 U.S. dollars) for public health care insurance in 2015, a new study released on Thursday said.

The study, titled The Price of Public Health Care Insurance, was released by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

"Contrary to what many believe, health care in Canada isn't free. While Canadians may not pay directly for medical services, they pay a substantial amount of money for health care through their taxes," said Bacchus Barua, study co-author and senior economist in the Fraser Institute's Centre for Health Policy Studies.

Most Canadians are unaware of the true cost of health care because they never see a bill for medical services and only pay a small so-called "premium" for health-insurance.

Moreover, general government revenue funds health care, making it difficult for Canadians to decipher how much of their tax dollars actually go towards health insurance.

The study said the average Canadian family with two parents and two children earning 119,082 CAD (90,978 U.S. dollars) will pay 11,735 dollars for public health care insurance in 2015..

The study revealed that between 2005 and 2015, the cost of health care for the average Canadian family increased by 48.5 percent, dwarfing increases in income of 30.8 percent and shelter of 35.9 percent.

"Over the past decade, the cost of health care in Canada has grown 1.6 times faster than average income," Barua said.

"The real cost of public health care insurance for different family compositions should be a fundamental component of any debate about health care in Canada. Once Canadians know how much they actually pay for health care through taxes, they will be in a better position to decide if the system delivers good value for their money,