As more insurers turn to preferred pharmacy networks to decrease costs, their efforts are being met with some resistance by plan members who may be finding it difficult and inconvenient to switch pharmacy providers. In January, Manulife Financial Corp.’s move to a preferred pharmacy network with Loblaw Cos. Ltd.’s Shoppers Drug Mart was met with […]
In 2023, diabetes medications remained the leading drug category for eligible private insurance claims for the second consecutive year, according to Telus Health’s annual drug trends report. The report, based on claims data from more than 15 million plan members in 2023, found the growing prevalence of diabetes, along with expanded heart failure treatment indications and […]
A new generation of glucagon-like peptide-1 drugs approved for the treatment of obesity will soon be available in Canada, presenting an opportunity for plan sponsors to meet members’ health and wellness needs. It’s important for employers to consider meeting with their insurer now to find out how the rollout of these drugs will affect their […]
While preferred pharmacy networks have been around for nearly a decade, most benefits plan members aren’t aware that these arrangements have become standard, says Suzanne Lepage, a private health plan strategist. Preferred provider networks are common arrangements that businesses across a variety of industries enter into to help deliver consistent value, quality and cost containment, said the Canadian Life […]
The federal minister in charge of promoting competition says he’s concerned about a deal between Manulife Financial Corp. and Loblaw Cos. Ltd. that restricts patients from filling prescriptions for specialty drugs at other pharmacies under their insurance plans. Industry Minister François-Philippe Champagne said Wednesday the government is reviewing the arrangement, which affects around 260 medications […]
An article on the Canadian Life and Health Insurance Association’s priorities for the coming year 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 week: 1. CLHIA focusing on improving pharmacare, rare disease drug coverage in 2024 2. Majority of Canadian employers expecting […]
Some pharmacare policy experts are raising concerns about competition and patient access to much-needed medication after Manulife Financial Corp. announced its coverage of certain prescription drugs will only apply at Loblaw Cos. Ltd. pharmacies. The new arrangement, details of which were shared with plan holders earlier this month, affects around 260 medications under the insurance […]