As longevity increases and chronic diseases become more prevalent in Canada, companies are seeing a rise in the number of high-cost claimants. Different employers discussed the cost-cutting measures they’ve introduced in response to this rise during the 11th annual Group Insurance and Pharmaceutical Committee event in Toronto on Wednesday.
ClaimSecure has launched its new single/family budgeted rates as an optional funding arrangement for plan sponsors' administrative services only health and dental plans.
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In an era of evolving workplace demographics and escalating healthcare costs, integrated wellness is the way forward
Some stakeholders in the health benefits community believe that the cost of new (patented) medicines threatens the sustainability of prescription drug benefits in Canada. At the same time, cost concerns are encouraging drug plan sponsors to shift to plan designs that limit access to the most innovative treatments.
Last year, $29.3 billion was spent on prescription drugs in Canada, but the annual growth rate was the second-lowest in more than 20 years.
Although American employers express concerns over the growing proportion of drug costs attributable to specialty medications—currently exceeding 30% and expected to increase to more than 50% in the next several years—a report finds that only 16% of employers devote more than 30% of pharmacy benefit management time to specialty drugs. That’s according to the Pharmacy […]
Private drug plans in Canada are facing an uncertain future. While the costs of many medications have decreased over the past few years as generics began replacing many commonly used medications coming off patent, those savings have been offset by the introduction of new, more effective and more costly medications; the rise in chronic diseases, such as diabetes; and expensive biologic and specialty treatments.
The area of extended health benefits doesn’t often lend itself to controversy across multiple stakeholder groups. That’s not to say the challenges impacting the space are not dynamic, and at times complicated, but there are very few issues that are fraught with polarizing views. The most debated drug plan issue of the day appears to be that of the impact of brand name drug cards. (I’ve also heard them referred to as patient choice cards or brand drug coupon cards.)
Pharmacists can play a crucial role in helping patients with hypertension improve their health by controlling their blood pressure—which would also result in reduced health plan costs.