WINNIPEG, Aug. 9, 2019 /CNW/ - Following news today about the federal government's plan to reform Canada's drug pricing regulations, Canada Life announced it is in full support of these reforms and is confident the changes will help ensure better and more affordable access to prescription drugs for Canadians.
"We endorse the federal government's reforms to make prescription drugs more affordable for Canadians," says Brad Fedorchuk, Executive Vice-President, Group Customer, Canada Life. "The life and health insurance industry has been vocal in support of these changes, and Canada Life applauds this step. Once the government formally implements these reforms, Benefits Plan Sponsors and their Members will also see reduced costs, helping to keep workplace benefit plans affordable for private drug plan coverage. This is a win for Canadians."
The reforms will also enable the life and health insurance industry to work with government in further strengthening Canada's drug coverage system, ensuring costs stay low and medicines are accessible in the years to come.
About Great-West Life, London Life and Canada Life
Great-West Life, together with London Life and Canada Life, are leading Canadian insurers focused on improving the financial, physical and mental well-being of Canadians. United under the new Canada Life brand, we help Canadians achieve their potential, every day. Our customers across Canada trust us to provide for their financial security needs and deliver on the promises we have made. Together, we serve the financial security needs of more than 13 million people across Canada and are leading providers of a wide range of insurance and wealth management products and services for individuals, families and business owners, from coast to coast to coast.
For more information, visit canadalife.com.
SOURCE Canada Life
For further information: Liz Kulyk, Director of Media Relations and Public Affairs, Canada Life, 204-926-5012, [email protected]