Le Lézard
Classified in: Business
Subjects: ECO, AVO, CFG

Budget measures offer sensible steps to achieve pharmacare for all who need it


TORONTO, March 19, 2019 /CNW/ - The Canadian Life and Health Insurance Association applauds the federal government's plan to put in place measures to make prescription medication more affordable and more accessible for all Canadians. 

The CLHIA is pleased with the budget's direction towards better coordination of efforts to reduce the high costs of medications that are putting pressure on private and public drug benefit plans alike. The proposed Canadian Drug Agency with a mandate to leverage the full buying power of the Canadian market to lower drug prices makes sense and should reduce costs for all Canadians. Equally, the development of a national formulary is an important step to ensuring a more common level of coverage regardless of where Canadians live or work. In addition, funding to address high-cost drugs for rare diseases is a welcome initiative. The industry is looking forward to further details on these measures from the government.

"Our industry has been urging the federal government to take a sensible approach to pharmacare," said Stephen Frank, CLHIA's President and CEO. "One that allows public and private insurers to work together to respond to Canadians' top concerns - expanding access to those who need it and controlling rising drug costs while protecting the workplace benefits that the vast majority currently have."

Over 80 per cent of Canadians want governments to focus tax dollars on a solution that provides prescription drug coverage to those who need it, not those who have coverage through workplace plans, according to research conduced this month by Abacus Data. The same research found overwhelming support (94 per cent) for an approach to pharmacare that combines public and private coverage and that would keep group benefit plans intact.

"We're grateful that the government is listening to what Canadians say they want for national pharmacare ? an approach that covers everyone, but that doesn't result in people losing the workplace benefits they currently have," said Frank. "We look forward to continuing to collaborate with the government to arrive at the best possible prescription medicine coverage for all Canadians in the months ahead."

About the CLHIA

The CLHIA is a voluntary association whose member companies account for 99 per cent of Canada's life and health insurance business. The industry provides a wide range of financial security products such as life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance to more than 29 million Canadians. It also holds over $860 billion in assets in Canada and employs more than 155,000 Canadians.

SOURCE Canadian Life and Health Insurance Association Inc.


These press releases may also interest you

at 15:52
The Swifthold Foundation, which was defrauded by Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani and his Qatari company, Fast Trading Group, today announced that it has hired Akin Gump, the international law firm, to help advise and obtain finality...

at 15:50
Bradley A. Chislett announced that on September 30, 2018 he acquired via private placement 23,684,211 units of Northstar Electronics Inc. ("Northstar") . Each unit was comprised of a common share of Northstar and half of one warrant, with each whole...

at 15:39
The Commission issued an Order in the above named matter.  A copy of the Order dated July 15, 2019 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARYGRACE KNAKOWSKISECRETARY TO THE COMMISSION SOURCE Ontario Securities Commission

at 15:39
hoopla digital (hoopladigital.com), the category-creating digital service for public libraries, today announced a deal with Kensington Publishing to bring thousands of the leading independent publisher's award-winning eBooks to hoopla's dynamic...

at 15:28
Southern Company today announced a regular quarterly dividend of 62 cents per share on the company's common stock, payable September 6, 2019, to shareholders of record as of August 19, 2019. Every quarter for more than 70 years Southern Company has...

at 15:26
The following issues have been halted by IIROC: Company:  ICTV Brands Inc. CSE Symbol: ITV (All Issues) Reason:  Failure to Maintain Exchange Requirements Halt Time (ET): 15:16 PM IIROC can make a decision to impose a temporary suspension (halt)...



News published on 19 march 2019 at 18:34 and distributed by: