The Alberta Teachers’ Retirement Fund Board will transfer all of its funds to the Alberta Investment Management Corp., according to the province’s latest budget. The ATRF board, which administers pensions for all teachers in Alberta school jurisdictions and charter schools, said in a press release it was only made aware of the change when the budget was released […]
It’s an election year and, of course, I have a lot of opinions. But I’ll try to keep my political leanings as neutral as possible and simply lay out the facts. This issue will hit desks days before the federal election. However, as I write these words in mid-September, the main parties are just rolling […]
The Liberal Party of Canada is promising a number of health-care reforms in its election platform, including a national pharmacare program and improved access to mental-health services. According to a backgrounder document, the Liberals are aiming to “strengthen the Canada Health Act to make sure the full range of mental-health services required by Canadians are available in every […]
A group of institutional investors representing more than US$500 billion is calling on the U.S. Congress to vote down the Canada-United States-Mexico trade agreement to prevent extended monopoly rights for pharmaceutical companies in all three countries. The Interfaith Center on Corporate Responsibility, which represents more than 300 religious institutional investors, pension funds, foundations, asset managers […]
With the federal election about a month away, Canada’s political parties are rolling out their election platforms, making a host of promises to improve health care, employment insurance, the minimum wage and pension legislation. If elected, the Liberal Party of Canada, New Democratic Party and Green Party of Canada are all promising to implement a national pharmacare program. […]
The cost of employer-provided health benefits in Canada is forecasted to rise six per cent in 2020, outpacing general inflation by 1.9 per cent, according to a 2020 trend rates report by Aon. The increase is due to higher costs from the rising spend on drugs in general, noted a press release. Globally, costs for employer-sponsored medical plans in 2020 are expected to increase […]
Five major pharmaceutical companies have filed a constitutional challenge to the federal government’s incoming changes to the Patented Medicine Prices Review Board. The complaint was filed in Quebec Superior Court by the Canadian subsidiaries of Merck & Co., Janssen Inc., Bayer, Boehringer Ingelheim Ltd. and Servier Inc. In statements provided to Benefits Canada, the companies […]
Private plan sponsors can expect to see lower drug prices resulting from recent changes to the Patented Medicine Prices Review Board, but there may also be unintended consequences. The reforms, announced Aug. 9 and expected to come into effect July 1, 2020, will update the reference countries Canada uses to compare its prices internationally. They’ll […]
As plan sponsors continue to look for ways to control drug plan spending, a new study from the University of British Columbia shows that switching from an open to a closed formulary can save big dollars. The study, published this month in the Canadian Medical Association Journal Open, analyzed what happened when the B.C. Hospital […]
On Friday, the federal government announced the final amendments to the Patented Medicine Prices Review Board regulations, estimating the reforms will save Canadians about $13 billion in the next decade and lay the foundation for national pharmacare. The amendments, which were put forward by the government in a consultation in May 2017, include an update […]