Among American employees enrolled in an employer-sponsored health plan, just seven per cent pay no deductible, according to a new survey by the International Foundation of Employee Benefit Plans. Among those with single coverage, nearly half (46 per cent) of respondents pay a deductible between $1,000 and $2,999, followed by $500 to $999 (19 per cent), under […]
The escalating cost of drugs and benefits plans are among the top priorities for Canadian employers, according to a new survey by Aon. The survey, which polled nearly 200 Canadian plan sponsors about their priorities related to group benefits and their workforces, found rising drug costs, in general, escalating specialty drug prices, in particular, and the increasing cost of extended health are the […]
As September approaches, activity in the catastrophic stop-loss insurance market will start to heat up for self-insured plan sponsors. This is when the annual dance of plans obtaining their proposed premium for the coming year, and trying to find ways to mitigate the increase, hits a fever pitch. Imagine a province, without a single provincial insurer, […]
High-cost drugs accounted for 41.6 per cent of patented medicine sales in 2017, up from 8.3 per cent a decade earlier, according to the Patented Medicine Prices Review Board’s latest annual report. Federal Health Minister Ginette Petitpas Taylor tabled the report, which also illustrated a rise in the sales of patented medicines in 2017. Sales […]
The vast majority (87 per cent) of physicians said the knowledge that a patient has private drug coverage affects their prescribing behaviour, according to a survey by Merck Canada Inc. More specifically, the survey found 26 per cent of general practitioners and 28 per cent of specialists believe this knowledge widens the treatment options available to the patient. Other effects […]
Between 2012 and 2016, Canada’s total private drug claims market increased by a 4.7 per cent compound annual growth rate, according to new research by Innovative Medicines Canada. The analysis, which is based on IQVIA Inc.’s Canadian private drug plan claims database, aims to highlight the key drivers of private drug plan cost growth for the period. “Often the […]
A red flag goes up for Dan Mead whenever an orthotics customer comes into his clinic asking about getting free shoes. “Clearly, we do see the issue, because patients do come in to our office, just speaking anecdotally . . . and you can tell what they’re looking for,” says Mead, a certified prosthetist and […]
Orphan drugs represent a significant and growing share of new pharmaceutical entrants in Canada, according to a new report from the Patented Medicine Prices Review Board. At 54 per cent of new pharmaceuticals entering the market in 2015 and 42 per cent in 2016, orphan drugs have seen a significant rise from an average of 33 […]
The announcement in late January that 70 of the most commonly prescribed drugs will see their prices fall by as much as 40 per cent on April 1 was certainly welcome news for plan sponsors. The deal, reached by the pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association, will bring the cost of some generic products down […]
Managing costs is the top benefits priority for American employers in 2018, according to an annual survey by global insurance brokerage Hub International Ltd. The survey, which polled 300 American employee benefits professionals, found helping employees make more informed benefits decisions (44 per cent) and improving wellness and productivity (32 per cent) also ranked highly on employer’s lists […]