The time to act is now: that was the collective feeling at the 2016 Face-to-Face Drug Plan Management conference on May 26 in Vancouver. As plan sponsors grapple with an influx of costly new drugs, employee non-compliance issues and a lack of case management, panellists at the conference discussed the best ways to help employers maintain the sustainability of their benefits plans and help sponsors.
Photos from the event can be found in our photo gallery.
Here are some of the highlights of the sessions:
Benefits charter part of Alberta plan’s redesign
Between 2010 and 2014, the Alberta School Employee Benefit Plan’s spending on specialty drugs increased by 71 per cent. When it came to those members taking specialty drugs, 90 per cent of the spend was for chronic therapies. The findings led the organization to rethink and redesign its benefits offerings. Read more
Research finds significant concern about drug costs
Almost nine in 10 plan sponsors are concerned about the rising costs of their drug plans over the next two to three years, according to exclusive Benefits Canada research. At the event, a panel discussed what’s driving these costs, where plan sponsors are finding savings and where there are opportunities for further reductions. Read more
Professor highlights need to consider productivity benefits of drugs
In Canada, many payers think about the price of medication alone and don’t consider the costs of productivity loss if employees don’t use a drug, according to Professor Aslam Anis of the School of Population and Public Health at the University of British Columbia. During the event, Anis explained how drug evaluations for cost effectiveness overlook the costs associated with increased presenteeism. Read more
Employers urged to take more active role in controlling drug costs
With plan sponsors concerned about the sustainability of their drug plans, a panel of experts at the forum discussed how employers can get their plans on track to be sustainable for the long term.
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