A new bill was recently introduced – Bill C-64, An Act respecting pharmacare (Pharmacare Act) — that could change the healthcare landscape in Canada. The bill, aimed at paving the way for a national pharmacare program, has sparked discussions across the country – and the implications of this legislation extend beyond healthcare policy, particularly for employers and their employee group benefits considerations.
What is Bill C-64?
Bill C-64 proposes the “foundational principles” for the first phase of national universal pharmacare in Canada to provide universal, single-payer coverage for a number of contraception and diabetes medications. The bill aims to address longstanding gaps in prescription drug coverage, signalling a potential shift in the landscape of employee benefits and healthcare offerings.
An estimate from the Conference Board of Canada indicates that more than 97 per cent of Canadians have at least some coverage, and the Government of Canada says roughly 80 per cent of us have adequate prescription-drug coverage.
Some concerns have been raised about the potential impact on existing benefit plans, including apprehensions about the bill putting workplace benefits plans at risk. This raises important considerations for businesses regarding the future of employee benefits and the role of private insurance in the evolving healthcare landscape.
Potential Impact
A pharmacare plan for birth control and diabetes medication could impact employer group benefits offerings in several ways, including:
Staying Informed
As the government negotiates with provinces and territories, employers will need to stay informed and proactive in managing any potential changes to healthcare policy and their benefits offerings.
Contact us today so we can help you navigate the evolving healthcare landscape with confidence and provide guidance on how to create comprehensive group benefits offerings that meet your employees’ needs.
Suggested Reading
Ottawa unveils national pharmacare plan that covers diabetes, contraception to start
Additional Resources
Government of Canada Introduces Legislation for First Phase of National Universal Pharmacare