The average cost increases for employer-sponsored health-care plans are set to increase at a faster rate than inflation in 2018, according to a new report by Aon. Global average cost increases are projected to be 8.4 per cent in 2018, nearly three times the projected rate of inflation of 3.1 percent. Results vary depending on region, with […]
It seems to happen a lot. Seemingly daily, someone will say they can save a plan sponsor money on its group benefits plan. My not-so-subtle reply is usually, “Another great deal, eh?” “Based on what?” I then ask. I always know the answer because saving on premiums is the easiest way to get someone’s attention. Let me […]
While Canadians hear about the high cost of drugs all of the time, “the sky is not falling,” said Jim Favaro, senior manager for private payers at Amgen Canada Inc. Favaro, speaking at the Calgary Drug Trends Summit on Nov. 23 on behalf of Innovative Medicines Canada, said he believes plan sponsors need to take […]
Keeping private drug plans sustainable is key for all Canadians. While measures such as mandatory generic substitution and prior authorization are standard solutions in many employer drug plans, costs continue to rise. As employers consider what to do next, there’s a role for pharmacy to play, according to Mark Rolnick, vice-president of payor partnerships and […]
As 2018 quickly approaches, so too does the rollout of Ontario’s new youth pharmacare coverage for those aged 24 and younger. The plan, which launches on Jan. 1, 2018, will provide universal coverage of all medicines listed in the Ontario Drug Benefit formulary. But will the government’s program, also known as OHIP+, lead to savings for […]
Canadian physicians are becoming more familiar with biosimilars, according to a new survey by the U.S.-based Alliance for Safe Biologic Medicines. The organization’s new survey, which polled more than 400 Canadian prescribers of biologics from 13 therapeutic specialties, found 83 per cent of respondents are either familiar or very familiar with biosimilars, compared to 58 per cent […]
Although a national pharmacare strategy seems elusive, the Ontario government is making a fairly aggressive investment in that area by spending $465 million to boost its provincial drug coverage by covering residents under age 25 and from 65 onwards. The program, known as OHIP+, begins Jan. 1, 2018. Children and youth under age 25 will by automatically eligible […]
It’s hard enough for plan members to understand how they can best use their benefits plans, particularly when they’re unaware of the details of the fees charged by service providers. Consider drug claims at a pharmacy. Many plan members aren’t aware that the cost includes an amount for the drug itself, a markup by the […]
More than 2,500 Canadians died from opioid-related overdoses in 2016, according to the Public Health Agency of Canada. The situation is particularly grave in the West. This year, British Columbia alone is on track to see 1,400 deaths due to opioids. The province declared a state of emergency in April 2016, and Alberta followed suit […]
The Reformulary Group Inc. has launched an app for its DrugFinder service that allows all Canadians to search the company’s curated list of medications. Previously only available to employees whose companies subscribed to the company’s formulary, the service allows users to find the cost, level of reimbursement and availability of any suitable alternative drugs. Read: Reformulary […]