With the cost of health benefits projected to rise by another eight per cent in 2017, plan sponsors have yet another incentive to find ways to curb their spending on drugs.
So what can they do? Participants at the Face to Face Drug Plan Management Forum in Toronto heard about some of the solutions. From boosting adherence to options for plan redesign, the sessions highlighted many of the solutions available to plan sponsors. The conference, which took place on Dec. 8 at the Fairmont Royal York Hotel, also tackled some of the widely held myth about drugs and benefits plans.
Photos from the event are available in our photo gallery.
Here are the highlights of the sessions:
Prof calls for better accounting of productivity impact of drugs
With the cost of health care rising, employers would do well to consider the productivity impacts of illness on their business, participants at Benefits Canada’s Face to Face Drug Plan Management Forum heard last month.
Debunking myths in drug plan management
There was a solid interactive element to Benefits Canada’s Face to Face Drug Plan Management Forum as participants took part in a live-polling session on the various myths surrounding drugs.
Toromont’s story of continued drug plan redesign
Toromont Industries Ltd. is a medium-sized construction equipment business with about 3,500 employees. It has been on a long journey to revamp its drug plan after it noticed its benefits costs were increasing quickly several years ago.