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Innovative Medicines Canada / Médicaments novateurs Canada: New IMC Report Shows Impact of Chronic Disease and Increased Claims on Private Drug Plans
2016-2019 Analysis of Private Drug Claim Cost Drivers
report, released today. The report also finds that drug claim costs are rising at approximately 5% annually, less than half of the 11% that insurers have projected.
The report demonstrates that the major cost increases to private health benefit plans in Canada are a result of increased drug utilization due to the growth in chronic diseases, like diabetes, requiring access to more medications. Given the significant impact of chronic disease on private drug plan claims costs and growth, to say nothing of their social and economic costs, there is an opportunity for employers, plan providers, and other stakeholders to work together to enhance the opportunities for plan members to reduce their risk of developing chronic diseases.