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- [pdf] Daily/Guaranteed Interest Account Advisor Guide
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Path to Success modules now available on EquiNet!
The Path to Success Critical Illness course module PDFs and videos are now available on the Critical Illness EquiNet page. The Path to Success program gives you access to specialized topics about Critical Illness Insurance, why it matters for your clients, and how to make an effective sale.
Learn about:
- Overcoming objections to Critical Illness Insurance
- Pivoting from other products to Critical Illness Insurance
- How to position and design the Critical Illness solution
…and more!
We have made the expert information from Path to Success available to you to review at anytime. However, if you wish to earn CE credits, you may continue to access the course through our Path to Success program website.
Questions about the program? Visit the Critical Illness page on EquiNet or contact your local wholesaler. -
February 2023 eNews
Responding to Nova Scotia’s biosimilar switch initiative
We are changing coverage for some biologic drugs in Nova Scotia in response to the province’s biosimilar initiative. These changes will help protect your clients’ plans from additional drug costs that may result from this new government policy while providing access to equally safe and effective lower-cost biosimilars.Nova Scotia’s provincial biosimilar initiative
Announced in February 2022, the Nova Scotia Biosimilar Initiative ends coverage of seven biologic drugs for residents enrolled in Pharmacare programs.
Pharmacare patients in the province using these drugs will be required to switch to biosimilar versions of these drugs by February 3, 2023, in order to maintain their Nova Scotia Pharmacare coverage.Equitable Life’s response
To ensure this provincial change doesn’t result in your clients’ plans paying additional and avoidable drug costs, we are changing coverage in Nova Scotia for most biologic drugs included in the provincial initiative.
Beginning June 1, 2023, plan members in the province will no longer be eligible for most originator biologic drugs if they have a condition for which Health Canada has approved a lower cost biosimilar version of the drug.** These plan members will be required to switch to a biosimilar version of the drug to maintain coverage under their Equitable Life plan.Can my client maintain coverage of these biologic drugs?
Traditional groups who wish to opt out of this change and maintain coverage of these originator biologics for Nova Scotia plan members can submit a policy amendment. Amendments must be submitted no later than April 1, 2023. Advisors with myFlex Benefits clients who wish to maintain coverage of these originator biologics for Nova Scotia plan members should speak to their myFlex Sales Manager to confirm their eligibility to opt out of this change.
Groups that choose to maintain coverage of these originator biologics for existing claimants will also maintain coverage for any originator biologics that we subsequently add to our Nova Scotia biosimilar initiative.Will this change impact my clients’ rates?
The rate impact of this change in coverage will be relatively insignificant. Any cost savings associated with the change will be factored in at renewal.
If plan sponsors opt out of these changes and maintain coverage for the originator biologics, it may result in a rate increase. Any rate adjustment will be applied at renewal.Communicating this change to plan members
We will inform any affected plan members in April of the need to switch their medications so that they have ample time to change their prescriptions and avoid any interruptions in treatment or coverage.What is the difference between biologics and biosimilars?
Biologics are drugs that are engineered using living organisms like yeast and bacteria. The first version of a biologic developed is known as the “originator” biologic. Biosimilars are highly similar to the drugs they are based on and Health Canada considers them to be equally safe and effective for approved conditions.Questions?
If you have any questions about this change, please contact your Group Account Executive or myFlex Sales Manager.
**The list of affected drugs is dynamic and will change as Nova Scotia includes more biologic drugs in its biosimilar initiative, as new biosimilars come onto the market, and as we make changes in drug eligibility.
Changes to New Brunswick drug interchangeability rules
We are introducing changes to help ensure that your clients with voluntary or mandatory generic pricing for their drug plans will benefit more from the cost savings of these two features, regardless of the province where the drugs are dispensed.
Currently, when determining whether a lower-cost alternative is available for a brand-name drug, most insurers only consider drugs that the provincial drug plan identifies as interchangeable.
However, the public drug plan in New Brunswick does not identify a drug as interchangeable if the drug is not listed on its formulary – even if Health Canada has deemed the drug interchangeable.
As a result, plans with mandatory or voluntary generic pricing have continued to reimburse some drugs in New Brunswick based on the cost of the brand-name drug, even if a lower-cost generic alternative is available.
Effective March 20, 2023, if your clients have drug plans with mandatory or voluntary generic pricing, we will adjudicate any drug claims in New Brunswick using the lowest cost alternative that Health Canada approves as bioequivalent. This will occur even if the public drug plan has not identified the drug as interchangeable.
To benefit from this more robust drug plan control, plan sponsors must have mandatory or voluntary generic pricing in place.
For more information about this change or about implementing mandatory or voluntary generic pricing for your clients, please contact your Group Account Executive or myFlex Sales Manager.
New template: plan members eligible for additional coverage
Often, based on salary, some plan members may become eligible to apply for extra Life, Accidental Death & Dismemberment (AD&D), Short Term Disability or Long Term Disability coverage. If this occurs, your clients receive a notification from Group Benefits Administration. We have now developed a template that your clients can provide to applicable plan members if they become eligible for extra coverage. The template makes it simpler for your clients to pass on these details to their plan members efficiently.
The new template is available for download under the Quick Links section of EquitableHealth.ca. It is a fillable PDF form that your clients can complete and provide to their plan members when necessary. The document is called Over the Non-Evidence Limit for Plan Members Notification.
If you have any questions about the template, please contact your Group Account Executive or myFlex Sales Manager. -
Product Enhancements - Critical Illness
Equitable Life has exciting product enhancements that will help you offer more options to clients.
Access our Virtual Product Launch NOW. Grab a coffee and get ready for this exciting news! Hear from our leaders and learn about our exciting product enhancements.
NEW! EquiLiving plans and riders enhanced with:- 20 pay options with coverage to age 75 or coverage for life
- Support from Cloud DX to help monitor a client’s well-being from treatment to recovery.
- Added Acquired Brain Injury as a covered critical condition
- 30-day survival period removed for all non-cardiovascular covered conditions
- No age restriction to claim for Loss of Independent Existence (LOIE)
- EquiLiving Benefit now pays the higher of the EquiLiving Benefit or the Return of Premium Rider Benefit (not including Return of Premium on Death)
- And so much more …
The updated illustration software will be available for download after 9 a.m. ET on Friday, February 11, 2022, and will include all the Equimax and EquiLiving enhancements.
See the Equitable Sales Illustrations Update for information on how to download the software or check for updates.
Please review updates to the commission schedule A for these new enhancements.
Learn more- Transition rules are available
- Watch our virtual launch event video now! (Approx. 20 minutes)
- Watch our product launch intro video here
- Visit our launch event page with product change details and more here
- Marketing Materials
Please contact your Regional Sales Manager for more information. - [pdf] Equitable GIF TFSA Application
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Responding to Alberta's Biosimilar Initiative
Beginning March 15, 2021, we are changing coverage for some biologic drugs in Alberta in response to the province’s Biosimilar Initiative. These changes will help protect your clients from additional drug costs that may result from this new government policy while still providing access to equally safe and effective biosimilars.
What is Alberta’s Biosimilar Initiative?
Alberta’s Biosimilar Initiative will end provincial coverage of several originator biologic drugs for some or all conditions beginning on Jan. 15, 2021. Patients 18 and over who are using these drugs for the affected conditions will be required to switch to biosimilar versions of the drugs to maintain coverage under the province’s government drug plan.
What is the impact on private drug plans?
Industry response to Alberta’s Biosimilar Initiative has the potential to significantly impact your clients’ drug plan costs. If other insurance carriers follow suit with the province and delist the originator biologics, it could expose a plan that doesn’t delist them to significant coordination of benefits risk. (See Case Study below.)
How is Equitable Life responding?
To protect your clients’ plans from paying additional and avoidable drug costs, we are changing coverage in Alberta for most biologic drugs included in the provincial initiative.
As of March 15, 2021, several originator biologic drugs will no longer be covered for plan members of all ages in Alberta. Plan members taking these biologics will be required to switch to the biosimilar versions of these drugs to maintain eligibility under their Equitable Life plan.
What drugs and conditions are affected?
The following table outlines the drugs and conditions that will be affected by this change. The list of affected drugs or conditions is dynamic and will change as Alberta includes more biologic drugs in its Biosimilar Initiative, as new biosimilars come onto the market, and as we make changes in drug eligibility.
Drug name Originator biologic
These drugs will no longer be covered in Alberta for the conditions listed in this table.Biosimilar
Plan members will need to switch to these medications to maintain coverage under their Equitable Life plan.
Affected health conditions
The changes in coverage apply to these conditions.Etanercept Enbrel Brenzys
ErelziAnkylosing Spondylitis
Rheumatoid Arthritis
Polyarticular juvenile idiopathic arthritis (JIA)
Psoriatic Arthritis
Plaque Psoriasis (adults and children)Infliximab Remicade Inflectra
Renflexis
AvsolaAnkylosing Spondylitis
Plaque Psoriasis
Psoriatic Arthritis
Rheumatoid Arthritis
Crohn's Disease (adults and children)
Ulcerative Colitis (adults and children)Insulin glargine Lantus Basaglar Diabetes (Type 1 and 2) Filgrastim Neupogen Grastofil
NivestymNeutropenia Pegfilgrastim Neulasta Lapelga
Fulphila
ZiextenzoNeutropenia Glatiramer* Copaxone Glatect
TEVA-Glatiramer AcetateMultiple Sclerosis *Glatiramer is a non-biologic complex drug.
How will Equitable Life communicate this change to plan members?
We will be communicating with affected claimants in January 2021 to allow them ample time to change their prescriptions and avoid any interruptions in their treatment or their coverage.
Can my client maintain coverage of these biologic drugs?
Traditional groups who wish to opt out of this change and maintain coverage of these originator biologics for Alberta plan members can submit a policy amendment. Amendments must be submitted no later than January 15, 2021. Advisors with myFlex Benefits clients who wish to maintain coverage of these originator biologics for Alberta plan members should speak to their myFlex Sales Manager to confirm their eligibility to opt out of this change.
Will this change impact my clients’ rates?
The rate impact of this change in coverage will be relatively insignificant. Any cost savings associated with the change will be factored in at renewal.
If plan sponsors opt out of these changes and maintain coverage for the originator biologics, it may result in a rate increase. Any rate adjustment will be applied at renewal.
What is the difference between biologics and biosimilars?
Biologics are drugs that are engineered using living organisms like yeast and bacteria. The first version of a biologic developed is also known as the “originator” biologic. Biosimilars are also biologics. They are highly similar to the originator drug they are based on and have been shown to have no clinically meaningful differences in safety or efficacy.
Questions?
If you have any questions about this change, please contact your Group Account Executive or myFlex Sales Manager.
CASE STUDY: The Alberta Biosimilar Initiative and Coordination of Benefits (CoB) risk
CoB risk is real and can be significant, even if a pharmaceutical savings program exists.
The industry response to Alberta’s Biosimilar Initiative has the potential to significantly impact your clients’ drug plan costs. Some insurers may follow the province’s lead and delist these originator biologics. Others may cut back coverage to the cost of the biosimilars or maintain coverage of the originators. These differences could expose a plan that doesn’t delist the originator biologics to significant coordination of benefits risk. Here’s how:
Let’s assume there are two private drug plans – Plan A and Plan B. Both plans are open plans with no deductible. Plan A has 80% co-insurance and Plan B has 100% co-insurance.
BEFORE Alberta’s Biosimilar Initiative
Before Alberta’s Biosimilar Initiative, both plans cover the originator biologics listed above.
Plan A is the first private payer for an Alberta plan member taking an originator biologic drug for Rheumatoid Arthritis. Plan B is the second private payer. The cost of the originator biologic for the plan member is $30,000 annually. Here’s how the coordination of benefits would look before Alberta’s Biosimilar Initiative.
AFTER Alberta’s Biosimilar InitiativeIn response to Alberta’s Biosimilar Initiative, the insurer for Plan A delists the originator biologic and requires plan members to switch to the biosimilar. The insurer for Plan B maintains coverage of the originator biologic. Under this scenario, if the plan member doesn’t switch, Plan B essentially becomes the first payer and sees their annual cost increase by 400% (from $6,000 to $30,000).
Even if the insurer for Plan B cuts back coverage to the cost of the biosimilar or adjusts the paid amount because they have a savings program in place with the drug manufacturer, the impact could be significant. For example, if the insurer cuts back coverage to 50% (or $15,000 annually), Plan B would see a 150% annual cost increase (from $6,000 to $15,000):
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Curious about large case pricing? Our experts are here to help
Ask our Experts Episode 2
At Equitable, we’re committed to the large case market. Our dedicated team of experts is here to support you from application through to policy placement.
Ask our Experts is a mini docuseries features key members of our large case team. They talk about their work, their perspectives, and their role in the large case experience.
Watch Ask our Experts Episode 2 featuring Kevin Till, AVP of Individual Life Pricing.
Kevin chats with us about:
• What he finds interesting about large case pricing.
• How quickly Equitable can turn around a large case quote.
• The difference between a mutual and a stock insurance company.
• Equitable’s reinsurance strategy.
Learn more:
Visit our large case markets webpage to learn more about our team of dedicated experts.
Don’t miss the favourites! Watch our most viewed Ask our Experts episodes here:
Do you have a large case opportunity? Talk to your wholesaler to learn more.
3/2/2026 - What's new?
- [pdf] Equitable GIF FHSA Application
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Online sales illustrations
Providing you flexibility while on the go.
We know how important it is to have tools that provide flexibility and convenience when managing your business. That’s why we created web-based sales illustration tools for easy access. You can create a Term, Critical Illness, Whole Life or Universal Life client illustrations from anywhere, anytime!
Useful Features:
• Save illustrations directly to your dashboard. You can revisit, edit, or complete them whenever you want.
• Our Term and Critical Illness illustrations integrate with EZcomplete®. This means you can move from illustration to application easily, with most fields in the first step filled in automatically.
Our web-based tools put everything at your fingertips, so you can keep your business moving while on the go. This is just one of many ways we’ve made it easier to do business with Equitable®.
Try running an illustration today!
If you have any questions, please reach out to your Equitable Wholesaler.