As the coronavirus pandemic enters its fourth year, it’s perhaps unsurprising that the health crisis has taken its toll on employee mental health. Scotiabank saw a notable rise in claims for mental-health drugs in 2022, says Ayman Alvi, the bank’s vice-president of global pension and benefits, noting the increased use of these medications aligns with […]
An article on how employers can close the pension gap among BIPOC employees was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Employers can leverage choice, education to help close pension gap among BIPOC workers 2. Ontario biosimilars policy could cut drug costs for plan […]
Changes to Ontario’s policy on the use of biosimilars in its public drug plan could result in savings for private benefits plans if they choose to follow the provincial model, says Theresa Tran, a principal in group benefits at Eckler Ltd. Starting March 31, Ontario Drug Benefit recipients who are on an originator biologic will […]
An article on the potential impacts of a pension super-priority bill was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Pension super-priority bill passes in House of Commons 2. Ontario municipality establishing six-week indoor mask requirement for city employees 3. CIBC supporting employee health with wellness […]
The increasing use of high-cost medicines is the primary cost driver for all Canadian drug plans, according to a new report by the Patented Medicine Prices Review Board. It found drug costs for public plans rose by 5.3 per cent in 2019/20, with high-cost medicines accounting for 6.3 per cent of the increase. Among private […]