drug pooling – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 High-cost drug claims lead to 20-times greater cost per claim for small plan sponsors https://www.benefitscanada.com/events/conference-coverage/high-cost-drug-claims-lead-to-20-times-greater-cost-per-claim-for-small-plan-sponsors/ Mon, 22 Jan 2024 13:00:24 +0000 https://www.benefitscanada.com/?p=150385 A recent survey by Innovative Medicines Canada found there are growing listing delays among Canada’s private drug plans, said Joe Farago, the organization’s executive director of private payers and investment, during a session at Benefits Canada’s 2023 Face to Face Drug Plan Management Forum in December. The survey noted private payer review times can take […]

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]]> PMPRB report shows increased plan costs, promising pharmaceutical innovation: expert https://www.benefitscanada.com/benefits/health-benefits/pmprb-report-shows-increased-plan-costs-promising-pharmaceutical-innovation-expert/ Wed, 20 Sep 2023 13:00:50 +0000 https://www.benefitscanada.com/?p=143674 A recent report by the Patented Medicine Prices Review Board shows increased growth for private drug plan costs but promising pharmaceutical innovation, says Joe Farago, executive director of private payers and investment at Innovative Medicines Canada. The report also found the number of new medicines launched in Canada was higher than the median for Organisation for […]

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]]> Gene, cell therapies raising questions of drug cost responsibilities: expert https://www.benefitscanada.com/benefits/health-benefits/gene-cell-therapies-raising-questions-of-drug-cost-responsibilities-expert/ Fri, 21 Jul 2023 13:00:30 +0000 https://www.benefitscanada.com/?p=141260 The growth of gene and cell therapies are raising significant questions among private payers about who bears the responsibility for the costs of these treatments, says Tim Clarke, president at TC Health Consulting Inc. “One issue is whether this is going to be paid for by public health or if it’s an employer health issue. […]

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]]> Rethinking risk management and the future of private drug insurance https://www.benefitscanada.com/events/conference-coverage/rethinking-risk-management-and-the-future-of-private-drug-insurance/ Mon, 23 Jan 2023 12:59:49 +0000 https://www.benefitscanada.com/?p=132520 With cost of private drug plan claims rising about 5.5 per cent each year, pooling is one solution that could be beneficial for benefits plan sponsors. “Theoretically, if these claims could be shared across a broader group, such as the complete private insurance industry, plan costs could be less volatile for individual plan sponsors,” said […]

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]]> Sounding board: Private health insurance industry needs to innovate to keep offering value to Canadians https://www.benefitscanada.com/benefits/health-benefits/sounding-board-private-health-insurance-industry-needs-to-innovate-to-keep-offering-value-to-canadians/ Fri, 12 Aug 2022 13:00:33 +0000 https://www.benefitscanada.com/?p=125092 There’s no question that Canadians value their private health benefits, even with pharmacare discussions back on the table. In a recent Abacus Data study, 78 per cent of respondents said they feel group benefits plans increase the availability and affordability of health services in Canada, as opposed to undermining universal health coverage. Furthermore, 92 per […]

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]]> Implementation of drug cost-control program violated collective agreement: arbitrator https://www.benefitscanada.com/benefits/benefits-law/implementation-of-drug-cost-control-program-violated-collective-agreement-arbitrator/ Mon, 16 May 2022 13:00:09 +0000 https://www.benefitscanada.com/?p=121441 A British Columbia labour arbitration decision is providing insight on how a block level implementation of a benefits provider’s drug cost-control program violated a collective agreement in a unionized workplace. The Douglas College Faculty Association grieved the implementation of Manulife’s DrugWatch program contravened their collective agreement, which ensured “there will be no change to the […]

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]]> Quebec biosimilars policy could cut drug costs for plan sponsors: expert https://www.benefitscanada.com/benefits/health-benefits/quebec-biosimilars-policy-could-cut-drug-costs-for-plan-sponsors-expert/ Thu, 07 Apr 2022 13:00:13 +0000 https://www.benefitscanada.com/?p=119265 Changes to Quebec’s policy on the use of biosimilars in its public drug plan could result in savings for private benefits plans, says one expert. On April 13, 2022, the Régie de l’assurance maladie du Québec will delist certain biologic drugs from its formulary, requiring patients covered by the plan to switch to a biosimilar […]

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]]> CDIPC estimates 34% rise in high-cost drug burden for Canadians since 2016 https://www.benefitscanada.com/benefits/health-benefits/cdipc-estimates-34-rise-in-high-cost-drug-burden-for-canadians-since-2016/ Wed, 22 Dec 2021 14:00:52 +0000 https://www.benefitscanada.com/?p=114197 The Canadian Drug Insurance Pooling Corp.’s high-cost drug framework provided coverage to almost 28,000 Canadians and their families where drug costs exceeded $10,000 annually in 2020. According to its results, the CDIPC estimated that its member insurance companies reimbursed claims associated with 54 new high-cost drugs including those for rare diseases. As well, based on past experience, […]

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]]> How small and mid-sized employers can offer benefits like large employers https://www.benefitscanada.com/archives_/benefits-canada-archive/how-small-and-mid-sized-employers-can-offer-benefits-like-large-employers/ Fri, 19 Nov 2021 13:57:52 +0000 https://www.benefitscanada.com/?p=111822 By beefing up its benefits programs and putting flexibility at the core of its offerings, Willful has been able to grow its staff amid a coronavirus pandemic-fueled tight labour market. The online estate planning company credits its fulsome total rewards package and its flexible workplace culture for its recruitment success. As a very small employer […]

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]]> Drug plan costs increasing for plan sponsors, but experts differ on why https://www.benefitscanada.com/news/bencan/drug-plan-costs-are-increasing-for-plan-sponsors-but-experts-differ-on-why/ Fri, 09 Apr 2021 13:00:43 +0000 https://www.benefitscanada.com/?p=98113 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 […]

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