Canadian insurers anticipate a six per cent increase in medical spending before the end of 2016 after experiencing a 6.3 per cent increase last year, according to a new study by Mercer. The figures account for changes in utilization patterns, government regulation and medical inflation, though the insurers estimated general inflation was 1.1 per cent […]
In Ontario, private sector health-care spending — which includes private insurance and out-of-pocket payments — grew 14.5 per cent over the past 10 years, according to a new study by Health Quality Ontario. In 2004, insurers and patients spent $1,218 per person. By 2013, the amount had grown to $1,394. During the same period, public spending grew […]
A legal battle between six disabled veterans and the federal government could finally come to a close this fall. The case, which was launched in B.C. Supreme Court in 2012, centres on the federal government’s 2006 decision to replace lifelong pensions with lump-sum payments. The veterans argued they deserve disability payments on par with workers’ […]
Canadians are split on the main benefits of a proposed publicly-funded universal drug program, according to the Canadian Medical Association’s annual national report card on health care. Fifty per cent of respondents believe the main advantage of such a program is that it would provide lower drug prices because all provinces would work together and […]
The government could take on a $37.9 billion deficit and still maintain Canada’s debt-to-GDP ratio, argues the Canadian Centre for Policy Alternatives in its 2016 Alternative Federal Budget (AFB). The think tank says the AFB would lift 1.1 million Canadians out of poverty, reduce income inequality, boost economic growth, and result in 520,000 new jobs, […]
Stay up to date on legislative changes that impact group benefits plans across the country with some key dates in 2016. January 3, 2016: Leave of absence changes in Nova Scotia and Prince Edward Island came into effect. In Nova Scotia, 28 weeks of compassionate care leave is now available to eligible employees, up from eight weeks. […]
While Canadian employers agree that coverage of prescription drugs is an important part of the national healthcare system, they have strong viewpoints and concerns about the adoption of a national pharmacare program, according to new research by Aon Hewitt. The research found that, should a public program require additional funding, respondents cautiously support a funding model […]
Pfizer and Allergan are joining in the biggest buyout of the year, a US$160-billion stock deal that will create the world’s largest drugmaker. It’s also the largest so-called inversion, where an American corporation combines with a company headquartered in a country with a lower corporate tax rate, saving potentially millions each year in U.S. taxes. […]
Valeant Pharmaceutical shares hit their lowest level in more than a year Wednesday following a report accusing the company of creating a network of “phantom” pharmacies to deceive auditors and book revenue — an allegation it firmly denied. At one point, the Quebec-based company saw its shares plummet 39% to $116.19, before closing at $154.21 […]
Congressional Democrats are pressing a Republican committee chairman to force a pharmaceutical company to turn over documents tied to price hikes imposed earlier this year.