Prescription Drug Coverage Protection
In the absence of progress on a catastrophic drug program in Canada, insurers are banding together in order to share the costs of highly expensive and recurring drug treatments through an industry drug pooling framework.
Going forward, participating insurers will set premiums for fully insured employer drug plans without reference to any pooled high cost drug claims.
This will effectively shelter Canadians from potentially losing their employer-sponsored drug coverage due to a high cost claim -- something that was increasingly a risk for those employed by small and medium sized businesses.
Twenty-four insurance companies across Canada, that collectively represent 100 per cent of the supplementary drug market, have committed to joining this pooling framework.
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