Just 11 per cent of employees are completely satisfied with the coverage levels for all five of the major areas of their health benefits plan, according to the 2017 Sanofi Canada health-care survey. Members are especially keen to boost their coverage for major dental services (25 per cent), vision care (21 per cent) and paramedical […]
Ontario’s Workplace Safety and Insurance Board spent 33 per cent less on prescription drugs in 2015 than it did in 2010. The board has claimed the $34-million difference was due to lower drug prices and fewer claims entering the system. But a Toronto legal clinic is arguing the cost savings actually stem from reduced services to injured […]
In the 2017 budget released last week, the federal government said it’s aiming to lower pharmaceutical prices and improve access to prescription medications through significant investments in a variety of health-care agencies. The government has committed $140.3 million over five years, starting in 2017-2018, to Health Canada, the Patented Medicine Prices Review Board and the Canadian Agency for […]
Some see it as an eternal struggle: the goodhearted doctor championing the best treatments, no matter the cost, while doing battle against the tightfisted insurance company denying claims for expensive but life-saving medications. But when you get down to it, their goals often dovetail: the best care for patients at affordable prices. After all, even […]
With drug plan costs back on the upswing amid unprecedented increases for stop-loss or pooling insurance, benefits advisors and insurers are seeing more plan sponsors voicing concerns over sustainability and showing a greater willingness to take actions beyond seeking the best rates at renewal time. “The industry is in the process of reacting to what’s […]
Last week, after years of declining revenue, Postmedia Network Inc. released an internal memo announcing significant cuts to non-unionized employees’ benefits. At first glance, the changes appear warranted for the struggling media company. Upon closer inspection, the question isn’t whether the company should have cut benefits but rather how it could have strategically reduced health-care […]
I remember when employers were concerned about the potential impact of a little blue pill called Viagra that came with an annual price tag of about $1,200. In those days, $1,200 would have been a high-cost drug. In 2017, that seems like a bargain, as today’s specialty drugs cost tens of thousands of dollars per patient per year. For […]
Switching three prescription drugs classes to over-the-counter medications could save Canadians, employers, insurers and the health-care system $1 billion annually, according to a new report by the Conference Board of Canada. According to the report, the economic value of switching to over-the-counter medications is an estimated $709.9 million for proton pump inhibitors, which treat gastroesophageal […]
When Andrew Martin joined the HR department at Joey Restaurant Group eight years ago, the company hadn’t touched its paper-based, administrative services-only drug plan in many years. Martin was quick to make changes, bringing in a flexible plan, drug cards, generic substitution and copayments based on dispensing fees. Still, he stopped short of reducing the […]
The development of new cancer treatments has created an opportunity to turn some cancers into chronic, manageable diseases and allow many people to return to work. That was one of the key messages at the 2016 Employers Cancer Care Summit as an expert panel discussed the rise and implications of the new treatments for the […]