Assumption Life has announced it will join 22 other group insurance providers in the new drug pooling framework put forth last week by the Canadian Life and Health Insurance Association (CLHIA).
The Ontario government’s Trillium Drug Program (TDP) can help employers reduce their drug plan costs even more than previously thought.
It’s easy to get caught up in the age and gender distribution of a plan population when attempting to assess future costs for a given plan—and trying to develop solutions to contain those costs.
The day after the announcement from the Canadian Life and Health Insurance Association (CLHIA) about a new pooling framework for high-cost drugs, Stephen Frank, vice-president of policy development and health, spoke at a seminar releasing further details of the plan.
A group of 23 Canadian insurance companies has come up with a plan to share the cost of high-priced drug treatments—a move they say will protect Canadians from the risk of losing their employer-sponsored coverage due to a big claim.
On March 27, the Ontario government tabled its new fiscal budget—and it includes a number of long-term initiatives that will have a significant impact on the health plans of Ontario employers in the coming years.
The growing impact of high-cost specialty drugs, coupled with shifting roles for health practitioners, calls for stakeholders to work together to improve drug plan efficiencies. But how?
Magna International Inc., a global vehicle part manufacturer and assembler with a workforce of 104,000, has a decentralized management structure that allows every division to run as a separate entity, said Arthur Fabbro, the organization’s director of total compensation.
Barbara Martinez, a principal with Mercer, reported on the findings of the organization’s 2011 survey of Canadian private drug plans.
Less than 20% of plan sponsors are capable of tracking their specialty drug spend, according to a survey by the U.S.-based Pharmacy Benefit Management Institute (PBMI).