Between 2018 and 2023, prescription drug expenditures in private drug plans grew at a compound annual growth rate of 7.1 per cent, according to a new report by the Patented Medicine Prices Review Board. It found in 2023, prescription drug expenditures for private plans rose by 12.9 per cent, returning to the pre-pandemic growth trend. […]
Manitoba has become the first province to officially join Ottawa’s pharmacare program, giving it access to federal funding to cover the cost of birth control and diabetes medications as well as hormone replacement therapy for menopause. “This is the beginning of a journey that cannot end,” said Health Minister Mark Holland. “There’s no room for […]
Innovative Medicines Canada is appointing Patrick Hupé as vice-president of government and stakeholder relations. He brings more than 25 years of experience in medical technology and life sciences, including senior roles at Medtronic, Pfizer Inc. and Hoffmann-La Roche Ltd. According to a press release, Hupé has led high-performing, multi-disciplinary teams and executed large-scale initiatives to […]
Advances in medical science and innovations in drug development necessitate updated drug plan strategies, according to Frédéric Leblanc (pictured far right), strategic leader of drug programs, group benefits and retirement solutions at iA Financial Group. During a panel discussion supported by EMD Serono Inc., GSK, iA Financial Group, Merck & Co. Inc., Novo Nordisk Canada Inc. […]
As plan sponsors contend with high utilization of their drug plans and a host of costly new drugs coming to market, a variety of cost-containment measures can ensure plans remain sustainable while still supporting members. Plan sponsors’ annual drug plan spend has been steadily rising, said Martin Gascon, senior director of group benefits at Eckler […]
The percentage of claimants filing claims for obesity drugs increased by 43 per cent in 2023, according to a new report by GreenShield. The report, which analyzed the insurer’s 2023 claims data, found diabetes medications saw a 13 per cent increase in cost, accounting for nine per cent of total drug costs in 2023. There […]
An article on how a national drug pooling program would impact employer-sponsored benefits plans was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. How would a national drug pooling program impact employer-sponsored benefits plans? 2. Leadership changes at the AIMCo […]
In light of the federal government developing a national pharmacare program, it’s important it considers the implementation of a national drug pooling program for private payers, says one expert. “If the government is going to invest in a universal drug program, it needs to have two main objectives,” said Edward Sabat, partner at The Consulting […]
With lyrics adapted to the tune of ‘Magic’ by Scottish pop group Pilot, the melody of ‘Oh, Oh, Oh, Ozempic’ is splashed across U.S. televisions in a snappy advertising campaign. The commercial push is likely unnecessary. Ozempic, one of the brand names of a glucagon-like peptide-1 receptor agonist medication used to treat type 2 diabetes, […]
An article on how ‘carewashing’ can negatively impact employers’ well-being strategies was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. How employers can avoid ‘carewashing’ their employee well-being strategy 2. Senate passes pharmacare legislation without amendments 3. Investment funds targeting domestic assets […]