The Canadian life and health insurance industry (CLHIA) has welcomed the federal government’s move to establish a a national Advisory Council on pharmacare – a step that the CLHIA believes is a common goal towards finding a way to ensure that prescription drugs are more affordable for everyone.
The CLHIA, which is a volunteer association whose member companies account for 99% of Canada’s life and health insurance business, is working towards a way to make prescription drugs affordable for members of the general public especially those who do not enjoy the benefits of a group employer plan today.
CLHIA provides a wide range of financial security products, including life insurance, annuities and supplementary health insurance, to about 26 million Canadians. The benefits of these plans being offered are highly valued ranging from eyewear to vision care to drug coverage and services such as physiotherapy and massage therapy, among many others.
President and CEO of CLHIA Stephen Frank said that they appreciate and support the additional efforts put in place by the federal government to ensure those who currently don’t have supplemental drug coverage benefit from coverage in the future and that they look forward to sharing their ideas on how best to do this.
Frank believes that a right solution towards making prescription drugs more affordable will control costs to taxpayers while also ensuring group health plans are not put at risk. The efforts will ensure that patients have the medicines they need without the affordability barrier.