A survey of 12 Canadian Health Insurers, by Mellon Human Resources & Investor Solutions Canada found that health costs are forecasted to rise 13.7% in 2005, down from 15.1% in 2004. Inflation on prescription drugs is expected to drop to 15.13% from 15.6%, due to the removal from the market of certain blockbuster drugs over [...]
With the start of the summer vacation season, a number of plan members will undoubtedly spend some of their vacation traveling outside Ontario and outside Canada. Many of these plan members will have medical conditions that they effectively keep under control with medications or other therapies. This will mean that for the purpose of [...]
Many plan sponsors and plan members are unaware that out of country Insurance coverage is limited or in some cases suspended when traveling in certain regions of the world. Every Insurer deals with this issue differently, but at a minimum, traveling to certain ‘War Risk Zones’ will result in limited protection for injuries [...]
The addition of a deductible equivalent to dispensing fee on prescription drug coverage is proving to be an effective way to empower plan members to make wise consumption decisions. Professional dispensing fees can range from $4.11 at Costco to $12.00 at Shoppers Drug Mart. By obtaining medications at lower cost providers, plan members [...]
