TORONTO, Jan. 18, 2013 /CNW/ - The Canadian life and health insurance
industry enthusiastically supports today's announcement by Saskatchewan
Premier Brad Wall and Prince Edward Island Premier Robert Ghiz that
Canada's provinces will be reducing the maximum price for six of the
most common generic drugs to 18 per cent of the equivalent brand-name
The industry is particularly pleased that the provinces' approach to
lowering generic prices will apply equally to all. This means that all
Canadians will benefit regardless of whether they are reimbursed for
their drugs costs from a provincial plan or a private employer plan; or
pay for their drugs out of their own pocket.
"Keeping the cost of prescription drugs at manageable levels is
critically important to not only public plans, but also to Canada's
employers that sponsor private plans and their employees," noted Frank
Swedlove, president of the Canadian Life and Health Insurance
Association (CLHIA). "By ensuring lower drug prices for all, the
governments' initiative announced today contributes in a meaningful way
to dealing with the rising cost of health care in Canada."
Canada's life and health insurers provided reimbursements for
prescription drug costs of over $10 billion to some 23 million
Canadians in 2011. Prescription drugs purchased privately account for
55 per cent of the total drugs purchased in Canada.
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 is the principal provider in Canada of individual and group
supplementary health benefit products and services and plays a
significant role in wellness, disease prevention and in supporting
SOURCE: Canadian Life and Health Insurance Association Inc.
For further information:
Wendy Hope, Vice President, External Relations (613) 230-0031 or
Stephen Frank, Vice President, Policy Development and Health (416) 359-2965