The growing use of specialty medications among plan members continued to drive the increase in plan sponsors’ drug plan costs last year, well eclipsing the increase in traditional drug spending, according to Telus Health. Canadian plan sponsors’ drug spending on insured plan members between the ages of 25 and 64 increased 3.6 per cent in […]
Amid mounting pressure from both the public and private sectors for an action plan that provides affordable childcare for Canadian working parents, on Monday, the federal government unveiled its 2021 budget proposal for a national community-based childcare system. Once partisan policy, many business and union leaders have been aligned on the issue of affordable childcare in […]
In its 2021 budget on Monday, the federal government said it’s proposing nearly $30 billion over the next five years towards a national community-based childcare system. The budget stated that starting in 2021/2022, an investment of up to $27.2 billion over five years will bring the federal government to a 50/50 share of childcare costs […]
With Canadian biologic drug sales growing at a rate of 13 per cent annually over the last 10 years, plan sponsors are looking for ways to manage the related costs — and the introduction of biosimilars may help. At a recent Pfizer-sponsored webinar hosted by Benefits Canada, “Evidence to Policy — Biosimilar Transitioning in Canada,” two […]
Specialty drugs can significantly improve (or even save) an employee’s life, but can come at a high cost. Over the past few decades, many employers dove headfirst into drug-pooling arrangements as a key way to deal with those costs, while also ensuring employees get the access needed to an array of medications. But with dozens […]
When the City of Toronto switched benefits plan insurers in 2017, it changed its coverage for biologics and biosimilars. Under its previous plan, the City reimbursed employees for the drugs their doctors recommended and prescribed; now, it follows its new insurer’s mandatory biosimilars policy, while grandfathering any plan member who was already taking a biologic […]
In Monday’s fall economic statement, the federal government proposed changes to employee stock option rules and offered additional support for essential workers. The statement provided an overview of the government’s approach to combating the ongoing coronavirus pandemic, while offering details on additional measures moving forward. The changes to employee stock option tax rules include an annual […]
With employers and employees still suffering through the limbo of the coronavirus pandemic, Wednesday’s throne speech clarified how the federal government plans to continue to support Canadians. In her speech, Governor General Julie Payette said the Canada Emergency Wage Subsidy will be extended into 2021. She also said the government intends to shift away from emergency benefits […]
Taking a look at private drug plans in 2020, a number of trends are converging: spending on specialty drugs is continuing its upward trajectory, advancements in a number of lifechanging therapies are in the pipeline and policy developments are coming at both the federal and provincial levels. In the face of this potential storm, plan […]
The Canadian Life and Health Insurance Association is highlighting new retirement savings options and access to cheaper drugs in its priorities for the Quebec and Newfoundland and Labrador provincial budgets. In its submission to Newfoundland’s finance minister, the CLHIA called for the government to make pooled registered pension plans available in the province. Citing Statistics Canada data that […]