One in five Canadians will experience a mental illness in their lifetime and by age 40 about 50 per cent of the population will have or have had one. Mental illness includes conditions such as depression, schizophrenia or bipolar disorder, which “can really affect the ability of an individual to function,” said Nida Mian, senior […]
In 2020, members of the Canadian Life and Health Insurance Association spent $650 million on drugs for rare diseases for more than 13,000 patients. Rare diseases affect one in 12 Canadians and between 6,000 and 8,000 rare diseases are known globally. In addition, roughly 80 per cent of these diseases occur in children and only […]
Federal Health Minister Jean-Yves Duclos has put a six-month pause on new regulations designed to lower the cost of patented medicines in Canada. Health Canada first announced in 2019 that the Patented Medicine Prices Review Board would change how it sets a price cap on medicines in Canada in an effort to lower excessively expensive […]
The Canadian Drug Insurance Pooling Corp.’s high-cost drug framework provided coverage to almost 28,000 Canadians and their families where drug costs exceeded $10,000 annually in 2020. According to its results, the CDIPC estimated that its member insurance companies reimbursed claims associated with 54 new high-cost drugs including those for rare diseases. As well, based on past experience, […]
As inflation hits a record high in Canada, employers are helping workers weather the storm through various benefits and compensation offerings, according to several experts. In October, the Canadian inflation rate increased year over year by a record 4.7 per cent, the largest increase since February 2003, according to Statistics Canada. The Bank of Canada […]
A story looking at demand from employees for more comprehensive benefits offerings took the top spot over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. Employees want more comprehensive benefits coverage: survey 2. Citigroup supporting employee wellness as return-to-office plans take shape 3. Manulife employee adopts 2 children with help from […]
As innovative medicines become more widely covered in workplace drug plans, employers are tasked with finding new ways to control costs while ensuring members receive the best value. “Obviously, this is good because such offers provide more treatments for employees and their families that can help get them back to the workplace sooner rather than […]
Discussion around implementing a national universal pharmacare strategy is growing louder ahead of next month’s federal election. In its 2019 budget, the federal government said it would work with partners to move forward on a national pharmacare program, including the creation of a new national drug agency and formulary, as well as a national strategy for […]
With Canada’s public and private drug market an ever-evolving landscape, what value can be gained from collaboration and innovative solutions to ensure patient access to new medicines and vaccines in the future? During Innovative Medicines Canada’s virtual policy summit in June, Declan Hamill, vice-president of policy, regulatory and legal affairs, said the organization appreciates the […]
The growing use of specialty medications among plan members continued to drive the increase in plan sponsors’ drug plan costs last year, well eclipsing the increase in traditional drug spending, according to Telus Health. Canadian plan sponsors’ drug spending on insured plan members between the ages of 25 and 64 increased 3.6 per cent in […]