The growing use of specialty medications among plan members continued to drive the increase in plan sponsors’ drug plan costs last year, well eclipsing the increase in traditional drug spending, according to Telus Health. Canadian plan sponsors’ drug spending on insured plan members between the ages of 25 and 64 increased 3.6 per cent in […]
While the rates of drug and disability claims are returning to their pre-pandemic levels, employers are still contending with the impact of the coronavirus crisis on their benefits plans. Following the declaration of the pandemic in March 2020, there was a subsequent surge in drug claims attributed to medication stockpiling, said Frédéric Leblanc, strategic advisor […]
On April 15, Benefits Canada hosted 2021 Tech Insights: Spring Edition, an event designed to showcase the latest technology in benefits, administration and plan member offerings. This event specifically provides a forum for companies to sell you on the benefits of their technology. You can view the conference highlights below: The benefits of digital pharmacy for plan […]
Last February, Carolyne Eagan’s mother was suddenly stricken with an excruciatingly painful condition called trigeminal neuralgia, which prevented her from eating, talking or drinking without triggering a flare of pain in her head. Eagan gathered up her mom’s medications and got into the ambulance with her, feeling increasingly distressed as she wasn’t able to answer […]
Canadian employers are making ongoing changes to their pension and benefits offerings as the coronavirus pandemic drags on, according to a new survey by the International Foundation of Employee Benefit Plans. The survey found almost one in five (18 per cent) employers offering prescription drug coverage have extended the time allowed under prior authorization periods, […]
While a national pharmacare program is yet to be revealed by the federal government, any future plan should contain provisions for all costly treatments and not just rare diseases, says Jennifer Schmidt, a principal at Mercer Canada. Read: Federal budget highlights national childcare system, extension of pandemic subsidies This week’s federal budget announcement contained only […]
While drug plan costs are increasing for plan sponsors, the causes for these increases may depend on which part of Canada a plan sponsor resides in, says Philippe Laplante, a principal responsible for the group benefits practice in Eckler Ltd.’s Montreal office. Over the past three years in Quebec, the average annual increase of recommended pricing […]
Employers have taken on a larger role in employees’ cancer care in the past few years, but the coronavirus pandemic changed the game even further, said Tim Clark, president of tc Health Consulting Inc., during Benefits Canada’s 2021 Chronic Disease at Work conference in late February. Cancer is now the sixth most expensive disease by […]
Private drug plan spending increased 5.4 per cent, according to Express Scripts Canada’s annual drug trends report. While up to a one per cent increase in private drug plan spending was anticipated, similar to the 0.6 per cent increase between 2018 to 2019; the report showed a decrease in the percentage of members who claimed, […]
Specialty drugs can significantly improve (or even save) an employee’s life, but can come at a high cost. Over the past few decades, many employers dove headfirst into drug-pooling arrangements as a key way to deal with those costs, while also ensuring employees get the access needed to an array of medications. But with dozens […]