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 […]
The hepatitis C hump is over. Since 2014, Health Canada has approved several promising medications for the disease. While the direct-acting antivirals offer cure rates of more than 90 per cent, they cost tens of thousands of dollars, and benefits plans felt the pinch. But now, “after an initial spike in treatment requests, claims have […]
Green Shield Canada is rolling out a new biosimilar transition program as a pilot project through the first half of 2018, with an aim to extending it to all of its employer clients by the end of the year. The program, which was designed to help plan members transition from an originator drug to a corresponding biosimilar, will initially focus […]
Anyone who’s ever suffered from chronic pain will tell you it’s a great motivator. When you’re in pain, you’ll go to great lengths and will try just about anything to eliminate or reduce it. I know that from experience. The rising cost of prescription drugs is becoming a persistent source of pain for many employers. For some, […]
A group of 28 patient advocacy organizations are urging Health Canada to stop its review of drug pricing. The federal government announced changes to drug price regulation in December 2017, setting out proposals through the Patented Medicine Prices Review Board that it estimates will deliver $12.6 billion in net benefits over 10 years through lower drug costs. Read: Feds […]
Almost one million Canadians cut spending on necessities such as food and heating to afford prescription drugs in 2016, according to a report by researchers at the University of British Columbia, Simon Fraser University, McMaster University and the University of Toronto. The report, which used data from Statistics Canada’s 2016 Canadian community health survey, also found 1.69 […]
British Columbia’s plan to eliminate or reduce prescription drug deductibles for low-income earners could also lead to lower drug costs for plan sponsors in the province. While Nick Gubbay, a principal and group benefits consultant at Eckler Ltd. in Vancouver, says the impact is likely to be most material for group plans providing benefits to […]
As the new year gets underway, it’s a busy season for predictions about what’s ahead for 2018. When it comes to employer-sponsored drug plans, costs have been a rising concern in recent years. According to projections released by Aon Hewitt in December, costs for extended health-care plans will likely rise by six per cent in […]
The Empire Life Insurance Co. is introducing a new drug-only pooling product for plan sponsors. With advancement in medicine and higher-cost drugs on the market, it’s important to provide options to help small- and medium-sized businesses manage their high-cost claim exposure, the company noted in a press release. With that in mind, it’s offering the new $7,500 drug-only option […]
Plan sponsors looking to integrate pharmacogenetic testing into their benefits plan will soon have lots of information to consider as Canada’s biggest insurance companies roll out pilot projects and research begins to shed light on the return on investment. “The market is expanding. Insurers are piloting projects. You will hear a lot about pharmacogenetics over the next 12 months,” said […]