In 2016, more than 20,500 Canadians benefited from the private insurance drug pooling systems, according to the Canadian Drug Insurance Pooling Corporation (CDIPC). Further, CDIPC’s cost-sharing approach benefited over 7,000 mostly small and mid-size employers by helping maintain the affordability of drug benefit plans provided to their employees and their families.

“Canadians are increasingly benefiting from the medical advances offered through the introduction of new drugs which can sometimes be very expensive,” notes CDIPC’s Executive Director Dan Berty. “The number of these new high-cost drug treatments are continuing to expand at a rapid pace. Without CDIPC’s cost-sharing approach, there is no question that a significant number of employers would have had to make changes to their drug insurance plans, potentially leaving employees and their families without access to lifesaving treatments,” added Berty.

Through the CDIPC, Canada’s life and health insurers voluntarily share the costs of pooling highly expensive and recurring drug treatments in order to shelter fully-insured private drug plans from the full financial impact of high-cost drugs. This proactive approach is helping ensure the sustainability of supplemental benefit plans for Canadians.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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