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  1. Dialogue Virtual Healthcare now available to add to Equitable Life benefits plans

    We’re pleased to announce we are partnering with Dialogue, Canada’s leading virtual health provider, to offer unlimited and on-demand virtual access to primary healthcare practitioners.
     
    Virtual Healthcare is the latest addition to our HealthConnector suite of health and wellness services. It is available to add to all Equitable Life benefits plans for an additional cost as of July 1, 2023.

    Features of Dialogue Virtual Healthcare
    Available 24/7, 365 days a year, Dialogue Virtual Healthcare provides access to unlimited non-urgent medical care for a wide range of health concerns. Plan members get fast access to the largest, most experienced and bilingual medical team in Canada for non-urgent medical issues. They also benefit from in-app prescription renewals and refills, personalized follow-ups after every consultation, and concierge-level navigation support for all referrals to in-person specialists when needed.

    Dialogue’s industry-leading platform provides an all-in-one patient journey to address health issues, reducing long wait times and time away for doctor appointments. Plan members and their families can access Dialogue Virtual Healthcare through the secure web portal or mobile app. The Dialogue medical team includes doctors, nurse practitioners and nurses. Plan members can use the service even if they’re already receiving care from a family doctor.


    Benefits of Virtual Healthcare

    For your clients
    By providing access to Virtual Healthcare, plan sponsors can help to:

    • Drive employee engagement;

    • Reduce absenteeism related to in-person medical appointments;

    • Manage chronic health issues;

    • Attract and retain top talent; and

    • Build a healthier workforce.

    For their plan members
    By providing easier access to primary healthcare practitioners, Virtual Healthcare can offer extra health and wellness support for plan members. It also supports members that may experience barriers to accessing in-person healthcare, such as:

    • Living in a remote location;

    • Work or family obligations during standard medical clinic hours;

    • Mobility challenges related to a disability; and

    • Transportation challenges.

    Learn more about bringing Dialogue Virtual Healthcare to your clients
    Click the link to learn more about Dialogue Virtual Healthcare : Welcome to Dialogue!

    Questions?
    To learn more about how your clients can add Virtual Healthcare to their benefits plan, please contact your Group Account Executive or myFlex Sales Manager.
  2. Market Commentary April 2025
    Key Takeaways for Q1
    • Economic policy became more uncertain with fluctuating tariff announcements from the U.S. and its trading partners.
    • Global stocks markets experienced heightened volatility year-to-date, reflecting the negative repercussions of tariffs for highly integrated global economies.
    • Within U.S. markets, investors rotated out of growth stocks into value and defensive areas of the market.
    • Bond markets performed well during the quarter as interest rates moved lower.
    • Most central banks continued to ease monetary policy by reducing their target interest rates. The U.S. Federal Reserve was a notable exception, electing to wait for greater clarity before lowering rates further.
    Economic and Market Update
    Economic Summary: In the U.S., the latest GDP data confirmed solid economic growth in 2024. However, as President Trump pushes forward his economic agenda, uncertainty surrounding fiscal policy and global trade have dampened market sentiment. Inflation pressures persisted, with the rate of inflation remaining above the central bank’s 2% objective. The labour market in the U.S. remained resilient, with unemployment rate staying low compared to historical norms. The Federal Reserve shifted to a more cautious approach, holding the policy rate steady through Q1 at the range 4.25% - 4.5%. The central bank raised its inflation forecast, lowered growth projections, and warned that “uncertainty around the economic outlook has increased.” U.S. bond yields were lower for most maturity dates during the first quarter, as the market priced in more growth concerns and anticipated more rate cuts from the Federal Reserve.

    Image1.png

    In Canada, recent GDP data showed stronger-than-expected growth. The inflation rate remained close to the 2% target but rose more than expected in February, and the labour market showed signs of improvement. U.S. tariffs continued to be a significant concern, and it is prompting businesses and consumers to become more cautious and slow their spending. The Bank of Canada warned that the economic impact of the tariffs could be “severe” and expected weaker growth in the coming quarters. For those reasons the Bank of Canada continued its easing cycle, cutting rates by 25 basis points at each of the January and March meetings, bringing the policy rate to 2.75%. Bond yields in Canada were also lower, with short-term interest rates decreasing faster than long-term interest rates as the Bank of Canada’s rate cuts outpaced market expectations.

    Image2.png

    Bond Markets:     During Q1 2025, the FTSE Canada Universe Bond Index returned 2.0% as interest rates declined across all tenors. Although interest rates fell, this was partially offset by higher credit spreads (i.e. the extra yield on corporate bonds versus government bonds to compensate for their extra risk). Consequently, while corporate bonds still generated a positive return on the quarter, they underperformed government bonds.  Widening credit spreads reflected the risk-off tone to the market, with on-off-on-off-on(?) tariffs contributing to the uncertainty. Lower-rated BBB bonds generally performed worse than higher-quality A-rated bonds.  While credit spreads are higher than they were in December and January, they are still expensive compared to longer term averages. Corporate bond issuance remained robust up until the last week of March, as investor demand kept deals well supported. Overall, the market took in $40 billion in new issuance, the second highest on record, spread over 82 bonds. While corporate bonds are more attractive than in January 2025, we believe the more likely path is towards higher credit spreads as U.S. tariffs impact global growth.  We have maintained our conservative view with a bias towards shorter-dated credit but remain ready to invest in longer dated corporate bonds as valuations become more attractive. 

    Image3.png
    Stock Markets – Overview:
    Uncertainty surrounding the scope and severity of new tariffs led investors to reassess global economic growth prospects and weighed on risk sentiment. As a result, the S&P 500 declined 4.3% over the quarter, underperforming Canadian and international markets. Within the U.S., investors rotated out of previously favoured growth stocks with loftier valuations – including members of the Magnificent 7 – into less volatile and value-cyclical companies. Meanwhile, Canadian equities returned 1.5% in Q1 despite ongoing trade negotiations and uncertain economic growth forecasts. Surging commodity prices helped the materials and energy sectors outperform, offsetting weakness in the technology and industrials sectors. Elsewhere, major developed markets from Europe and Asia (EAFE) were supported over the quarter by the introduction of a new German fiscal stimulus package and signs of improving Chinese economic growth. Following the quarter end, President Trump announced global tariffs on April 2nd, prompting some trading partners to hit back with retaliatory tariffs. The S&P 500 lost a record $5.2 trillion over two trading sessions and re-entered correction territory, with other global equity markets moving in tandem.

    U.S. Equities: While the impact of tariffs has made investors more apprehensive, we have yet to witness a deterioration in financial performance. In fact, U.S. earnings continued to exceed forecasts last quarter, with approximately 70% of companies beating expectations. Furthermore, our bottom-up analysis shows that the skew of corporate earnings surprises continues to tilt positive. That said, we note that companies are providing more cautious guidance amid the increased economic uncertainty and that these earnings largely reflect conditions in 2024, not 2025. Notably, consumer stocks like Walmart have lowered growth forecasts for 2025, citing concerns surrounding consumer confidence and macroeconomic conditions. In addition to clouding the outlook, geopolitical shocks like sweeping tariffs may risk changing how companies choose to operate, including the structure of supply chains and sources of revenue. At this stage, it is still unclear how long these trade tensions will last, as that depends on how other countries choose to respond. If the tariffs are rolled back quickly, many companies may be able to absorb the temporary extra costs without serious     damage to profits, and the broader economy could avoid lasting harm. But if the tariffs remain in place for a long time, the consequences could be much more serious; companies might have to change how they operate, restructure supply chains, and raise prices to deal with long-term pressure on profits.

    Canadian Equities: Against the backdrop of worrisome trade developments, the Bank of Canada continued to ease monetary policy. While lower rates have helped Canadian companies report better-than-expected profit growth, consensus earnings expectations for 2025 have been revised 2% lower since the beginning of the year, reflecting the expectations for tariff headwinds. Falling bond yields made high quality, high dividend paying companies more attractive, helping this group outperform. Furthermore, the price of raw industrials – a basket of commodities – surged higher over the quarter and as a result, commodity-oriented companies benefitted. More specifically, the materials sector performed strongly with gold prices reaching new all-time highs throughout the quarter. However, if trade frictions continue to escalate and weaker growth projections materialize into a real economic slowdown, the Canadian market, given its cyclical nature and heavy reliance on commodity-driven businesses, remains particularly vulnerable to external headwinds. Moreover, given Canada’s weaker fundamental backdrop, we caution that the recent outperformance of Canadian equities relative to the U.S. may prove short-lived, particularly if trade tension persists.

    Bottom line:
    Heightened uncertainty surrounding global trade policies, coupled with deteriorating economic growth projections, continued to weigh on investor sentiment. Bond prices benefited from the flight to less-risky assets, with lower interest rates in anticipation of weaker economic conditions. In equity markets, the introduction of broad-based tariffs increased market volatility and drove major indices sharply lower year-to-date. Looking forward, we remain cautious of the recent outperformance of Canadian and international markets relative to the U.S. While tariffs began as a U.S. policy move, the ripple effects extend far beyond American borders, reflecting the systemic fragility that underpins global trade. If trade barriers persist, businesses may be forced to make structural shifts in their operations and review their current business models. Until markets achieve greater clarity on global trade policies, we continue to prioritize exposure to diversified large-cap stocks in the U.S., over defensive or growth-heavy positions. Within Canada, we continue to favour high quality, high dividend paying names with less sensitivity to downgrades in global growth.

    Downloadable Copy

     
    Mark Warywoda, CFA
    VP, Public Portfolio Management    		 Ian Whiteside, CFA, MBA
    AVP, Public Portfolio Management    		 Johanna Shaw, CFA
    Director, Portfolio Management    		 Jin Li
    Director, Equity Portfolio Management
     
    Tyler Farrow, CFA
    Senior Analyst, Equity    		  
    Andrew Vermeer
    Senior Analyst, Credit    		  
    Elizabeth Ayodele
    Analyst, Credit    		  
    Francie Chen
    Analyst, Rates
    ADVISOR USE ONLY

    Any statements contained herein that are not based on historical fact are forward-looking statements. Any forward-looking statements represent the portfolio manager’s best judgment as of the present date as to what may occur in the future. However, forward-looking statements are subject to many risks, uncertainties, and assumptions, and are based on the portfolio manager’s present opinions and views. For this reason, the actual outcome of the events or results predicted may differ materially from what is expressed. Furthermore, the portfolio manager’s views, opinions or assumptions may subsequently change based on previously unknown information, or for other reasons. Equitable® assumes no obligation to update any forward-looking information contained herein. The reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Investments may increase or decrease in value and are invested at the risk of the investor. Investment values change frequently, and past performance does not guarantee future results. Professional advice should be sought before an investor embarks on any investment strategy.
     
  3. [pdf] Edelivery policy change FAQ
  4. Equitable Life Group Benefits Bulletin - September 2020

    In this issue:

    Enhancements to Equitable EZClaim Mobile
    New reports available on EquitableHealth.ca

    * Indicates content that will be shared with your clients.

    Enhancements to Equitable EZClaim® Mobile*

    We’ve updated our Equitable EZClaim mobile app to process vision claims faster, to provide a new option for submitting documents and to increase password security.

    Faster vision claims processing and payment

    Equitable Life now provides faster processing of vision claims submitted via EZClaim Mobile.

    This means plan members can find out the status of their vision claim almost instantaneously. And, for approved claims, they will receive payment even sooner – often in as little as 24 hours.

    In order to allow for instant processing and faster payment, plan members will be prompted to enter some additional information, including their practitioner’s name, the date of the expense, the type of expense and amount of the expense when submitting their claims for these services.

    Equitable Life plan members can submit all vision claims via Equitable EZClaim, including coordination of benefits and Health Care Spending Account claims.

    Submit documents from a mobile device

    We have added our Document Submission tool to EZClaim Mobile so plan members can conveniently submit documents directly from their mobile device. Applications, change forms, statement of health forms and more can all be easily uploaded whenever and wherever they are.

    Improved security with stronger passwords

    To help you, your clients and plan members better protect personal information, we have increased the maximum length of passwords for both EZClaim Online and EZClaim Mobile from 12 to 32 characters. This longer character limit makes it easier to create stronger and more secure passwords.

    There is no change for plan members, plan administrators or advisors. All existing passwords will continue to function. However, if you choose to update your password you will now be able to choose longer passwords or passphrases.

    Why should I change my password?

    Changing your password frequently helps keep your information safe. The longer and more random the password, the more secure it is. To improve security even more, a passphrase is recommended.

    A passphrase is a series of words or other text used like a password. Because it is much longer, a passphrase is more secure. Although the words in the phrase may be meaningful to you and easy to remember, they can be random enough that the full phrase is difficult for someone else to guess. It’s even better if you use numbers or other characters in your passphrase.

    Your passphrase should be:

    • Long enough to be hard to guess;
    • Not a famous quotation;
    • Easy to remember and type; and
    • Not used in multiple places.

    To change your password:

    1. Log in to EquitableHealth.ca
    2. Click on My Information > User Profile
    3. Click Edit
    4. Confirm your information and enter your new password
    5. Click Save

    We will be announcing this enhancement to plan members on EquitableHealth.ca.

    New reports available on EquitableHealth.ca*

    Plan administrators and advisors with reporting access can now download three additional reports any time via the plan administrator and advisor websites on EquitableHealth.ca:

    • Premium and Tax – This report provides a breakdown of premiums and taxes paid per plan member for any specific time period for all applicable benefits.
    • Occupation and Earnings – This report provides current plan member earnings and occupation information and gives plan administrators an efficient way to report updates to us.
    • Employee listing – This report lists all plan members’ information, including name, certificate number, date of birth, province, occupation and salary, as well as benefit coverage currently in place and HCSA allocations.

    These reports can be downloaded in Excel format for easy updating, filtering or sorting.

    For more information, please contact your Client Relationship Specialist.

     

    *Indicates content that will be shared with your clients

  5. EAMG - Macro Tear Sheet – Recent Market Volatility Summary By separating the noise from the signals, we believe the rotation away from the mega-cap technology names is likely to continue. Recent market volatility, triggered by a multitude of factors that include the unwind of the carry trade, investor reactions to mixed mega-cap earnings, and U.S. economic data, may present more investment opportunities for long-term outperformance. Recall over the past year that the majority of U.S. stock market performance came from a limited number of mega-cap technology companies and, in our view, moving forward it will be prudent to analyze the source of returns as rapid market rotations may punish overly-concentrated portfolios.

    chart.png
    Inflation Slows (July 11) – Headline U.S. inflation readings increased 3.0% year-over-year in June, decelerating from May (3.3%). With prices slowing ahead of forecasts but economic growth remaining strong, investors became more confident regarding the prospects of an economic soft landing.
    Outcome: market strength broadened with traders rotating out of highly concentrated areas of the market (“Fabulous 5”) and into more economically sensitive stocks that had been left behind.

    • Big Tech Earnings (July 23 – Aug 1) – High profile mega-cap technology companies – including many members of the Magnificent 7 – reported earnings growth that generally surpassed expectations as margins remained healthy. That said, investors were more focused on spending towards AI-initiatives, rewarding businesses with greater success translating their AI investments into higher sales. 
    Outcome: this trend is evident through the divergence of returns from IBM and Alphabet (Google’s parent company) after releasing their quarterly earnings. The limited number of companies that contributed to the returns of the S&P 500 failed to impress investors, extending the rotation into other areas of the market.

    • Caution is Brewing – Following a strong rally of economically sensitive pockets of the market, notably a breakout of returns from U.S. small cap companies, the low volatility factor, which tends to outperform during times of stress, moved in sync with the small caps’ strength.
    Outcome: with a lack of fundamental justification supporting small cap performance, markets showed signs of caution.

    • Central Bank Decisions (July 31)– The Federal Reserve held interest rates unchanged during its July meeting, in line with market expectations, reiterating committee members’ need for greater confidence that inflation would continue to subside. That said, policymakers signaled a reduction in policy rates could be a possibility in the coming meetings. In contrast, the Bank of Japan (BoJ) increased its key interest rate while also announcing plans to scale back bond purchases – restrictive monetary policy maneuvers aimed at backstopping the depreciating Japanese currency.
    Outcome: the bifurcation between the BoJ and most other major central banks sparked a sharp appreciation of the yen and a rapid unwind of the yen carry trade (see below for explanation).

    • Growth Scare (August 2)– In early August, a downside surprise in U.S. nonfarm payrolls (114k actual versus 175k expected) and an increase in the unemployment rate to 4.3%, higher than the 4.1% that was expected and up from 3.5% a year ago triggered concerns of a cooling labor market.
    Outcome: speculation swelled surrounding the pace of rate cuts with market participants expecting the Federal Reserve to cut rates as much as 125bps over the next 3 policy meetings, up from 50-75bps as of the end of July. Against this backdrop, the ongoing unwind of the yen carry trade accelerated.

    Yen Carry Trade Explained
    • Simply put, investors have been borrowing Japanese yen – a low yielding currency – to invest in higher-yielding foreign assets. The primary risks in a carry trade can include the uncertainty of foreign exchange rates (if unhedged), as well as changes to expectations of the underlying yields, among other risks. Over the last 2 decades, the BoJ has implemented an ultra-low interest rate monetary policy to combat deflation and stimulate growth. Furthermore, investors were emboldened by the Japanese yen’s ~53% depreciation versus the U.S. dollar over the last 10 years. With the BoJ hiking its key interest rate while also announcing plans to scale back bond purchases, the yen rallied abruptly. Consequently, highly leveraged investors have had to exit their long positions in riskier assets to repay their borrowed yen exposure.

    Peak Carry Trade Unwind – Buying Opportunity
    • Peak carry trade unwind, which implies heightened panic levels, has historically created an attractive buying environment. That said, we are focused on companies that have demonstrated robust earnings growth and healthy leverage. Given the unprecedented level of market concentration over the last year, we view the unwind of the carry trade as another catalyst for investors to rotate out of the “Fabulous 5”.

    Our Findings:
    We found that the peak unwind of the carry trade may be a buying opportunity. At present, the current level of the unwind is similar to many notable market bottoms, including the Great Financial Crisis (2008), the European debt crisis (2010), the oil crash (2014), the subsequent emerging market crisis (2015), the Covid-19 crash (2020), and the collapse of Silicon Valley Bank (2023). We assessed the degree of the unwind by looking at the one-month implied volatility between three currency pairs, U.S. Dollar/Yen, Australian Dollar/Yen, and Euro/Yen. Implied volatility is a measure of the expected future volatility of the underlying assets over a given time period. Amid strong earnings growth and steady margins from quality businesses within the U.S. market, the fundamental backdrop suggests that businesses outside the concentrated AI-darlings may drive the next leg of market returns.

    Downloadable Copy
     
    Mark Warywoda, CFA
    VP, Public Portfolio Management    		 Ian Whiteside, CFA, MBA
    AVP, Public Portfolio Management    		 Johanna Shaw, CFA
    Director, Portfolio Management    		 Jin Li
    Director, Equity Portfolio Management
     
    Tyler Farrow, CFA
    Senior Analyst, Equity    		  
    Andrew Vermeer
    Senior Analyst, Credit    		  
    Elizabeth Ayodele
    Analyst, Credit    		  
    Francie Chen
    Analyst, Rates

    ADVISOR USE ONLY

    Any statements contained herein that are not based on historical fact are forward-looking statements. Any forward-looking statements represent the portfolio manager’s best judgment as of the present date as to what may occur in the future. However, forward-looking statements are subject to many risks, uncertainties, and assumptions, and are based on the portfolio manager’s present opinions and views. For this reason, the actual outcome of the events or results predicted may differ materially from what is expressed. Furthermore, the portfolio manager’s views, opinions or assumptions may subsequently change based on previously unknown information, or for other reasons. Equitable® assumes no obligation to update any forward-looking information contained herein. The reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Investments may increase or decrease in value and are invested at the risk of the investor. Investment values change frequently, and past performance does not guarantee future results. Professional advice should be sought before an investor embarks on any investment strategy.
  6. Make It Easy EZtransact Contest

     

    Welcome EZtransactTM, Equitable Life®’s newest online transaction tool that makes managing your client’s policies quick and convenient.


    Every EZtransact online transaction submitted between September 13 and November 26, 2021 gives you the chance to WIN! Eligible non-winning Entries will be carried forward to subsequent Draw Dates. So the sooner you start using EZtransact, the more chances you have to win! First draw will be on September 27, 2021.

    One $100 winner each week! With a Grand Prize winner of $1000 at the end of the contest! Want to find out more? Please see the contest rules here. You can also contact us at equitablesrmarketing@equitable.ca.


    Click here for to start using EZtransact today.

     




    Make It Easy” EZtransactTM Contest: No purchase necessary. Contest period September 13, 2021 to November 26, 2021. Eleven prizes to be awarded, for a total value of $2,100 CAD. Ten weekly prize draws, each for one prize of $100 CAD, to be held every Monday from September 27, 2021 to November 29, 2021. One Grand Prize draw, for one prize of $1,000 CAD, to be held on November 29, 2021. Correct answer to mathematical skill testing question required to win. Open to legal residents of Canada of the age of majority. Eligible non-winning Entries will be carried forward to subsequent Entry Periods and will be eligible on subsequent Draw Dates. Maximum one weekly draw prize per person. Odds of winning depend on number of eligible Entries received during the Contest Period.

    Click here to see full contest rules, including no purchase method of entry.
  7. Make It EZ2 EZtransact Contest – Twice As Nice!


    The Make-It-EZ EZtransactTM contest is back by popular demand! This time we are making it twice as nice with one $200 winner each week, and a Grand Prize winner of $2000 at the end of the contest! Just in time for your busy RSP season, EZtransact, makes managing your client’s policies quick and convenient.

    Every EZtransact online transaction submitted between January 24 and April 1, 2022 gives you the chance to WIN! Eligible non-winning Entries will be carried forward to subsequent Draw Dates. So the sooner you start using EZtransact, the more chances you have to win! First draw will be on January 31, 2022.

    Click here for to start using EZtransact today.

    New to EZtransact? Click here to try our new EZtransact Sandbox practice site. 

    “Make It EZ2” EZtransactTM Contest: No purchase necessary. Contest period January 24, 2022 to April 1, 2022. Eleven prizes to be awarded, for a total value of $4,000 CAD. Ten weekly prize draws, each for one prize of $200 CAD, to be held every Monday from January 31, 2022 to April 4, 2022. One Grand Prize draw, for one prize of $2,000 CAD, to be held on April 4, 2022. Correct answer to mathematical skill testing question required to win. Open to legal residents of Canada of the age of majority. Eligible non-winning Entries will be carried forward to subsequent Entry Periods and will be eligible on subsequent Draw Dates. Maximum one weekly draw prize per person. Odds of winning depend on number of eligible Entries received during the Contest Period. Click here to see full contest rules, including no purchase method of entry.
  8. [pdf] Pre-Authorized Debit (PAD)
  9. Equitable Life Group Benefits Bulletin – February 2022 In this issue: *Indicates content that will be shared with your clients

    Update: Alberta biosimilar coverage changes*
    Four originator biologics added to Alberta Biosimilar Initiative

    In 2022, Alberta’s provincial drug plan is adding four originator biologics to its Biosimilar Initiative. It has ended or will end provincial coverage of these drugs for some or all conditions, as follows:
    • Lovenox: Jan. 10, 2022
    • Humalog: Feb. 1, 2022
    • NovoRapid: April 1, 2022
    • Humira: May 1, 2022

    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.

    How we are responding to protect our clients
    To help prevent this change from resulting in additional costs for our clients’ drug plans while still providing plan members with access to safe and effective medications, we will no longer cover these originator biologic drugs for plan members in Alberta.

    Effective May 1, 2022, claimants currently taking these drugs will be required to switch to a biosimilar version of the drug to maintain coverage under their Equitable Life plan.

    This is a continuation of the Alberta biosimilar switch program we launched last March, when the province first introduced its Biosimilar Initiative.

    Do my clients need to take any action?
    No action is required by plan sponsors. Plan members taking these targeted originator biologics will be contacted directly to allow them ample time to transition to a biosimilar. Any cost savings associated with the change will be factored in at renewal.

    Groups that opted out of the biologic coverage changes we made last March will automatically be opted out of these coverage changes, as well as any future changes to our Alberta biosimilar switch program. This means that their drug plans will continue to provide coverage to existing claimants for any originator biologics we stop covering as part of our biosimilar program.

    Advisors with clients who wish to opt out of our Alberta biosimilar program, or who previously opted out and want to opt back in, should speak to their Group Account Executive or myFlex Sales Manager.

    Communication to plan members
    We will be communicating these coverage changes with affected claimants in early March to allow them ample time to change their prescriptions and avoid any interruptions in their treatment or their coverage. Thus far, the transition to biosimilars, has been smooth and continues to be successful.

    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 also biologics. 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.

    Preferred Biosimilar Program*

    As part of our ongoing efforts to help ensure the sustainability of your clients’ drug plans, we continue to engage in strategic partnerships with pharmaceutical manufacturers. 

    We are pleased to announce a partnership to make Hyrimoz our preferred biosimilar for Humira. This partnership will generate additional savings for plan sponsors.

    Plan members will still have the choice to use Humira biosimilars other than Hyrimoz. However, in the absence of alternative sources of reimbursement, this may increase their out-of-pocket amount.

    The Preferred Biosimilar Program will take effect March 1, 2022 for all new claimants across Canada who start using a Humira biosimilar. It will take effect May 1 for existing claimants in Alberta who switch to a Humira biosimilar, to align with changes to the provincial plan.

    Questions?
    If you have any questions about this change, please contact your Group Account Executive or myFlex Sales Manager.

    Responding to Quebec’s biosimilar policy

    Last year, the Quebec government announced it is phasing out coverage of biologic drugs. Beginning April 13, 2022, patients in Quebec using originator biologics will be required to switch to the corresponding biosimilar covered on the province’s public plan in order to maintain coverage.

    The following populations are excepted from this new policy:
    • Pregnant women, who should be transitioned to biosimilars in the 12 months after childbirth.
    • Pediatric patients, who should be transitioned to biosimilars in the 12 months after their 18th birthdays.
    • Patients who have experienced two or more therapeutic failures while being treated with a biologic drug for the same chronic disease.
    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.

    We are actively investigating the impact of this new policy on private drug plans in Quebec. We plan to implement further enhancements to our biosimilar programs in Quebec later this year to help prevent this change from resulting in additional costs for our clients’ drug plans. We will provide more details in the coming months.

    Dental fee guide updates

    Each year, Provincial and Territorial Dental Associations publish fee guides. Equitable Life uses these guides to help determine the reimbursement limits for dental procedures. For your reference, below is the list of the average dental fee increases for general practitioners that will be used by Equitable Life for 2022.*

    Dental fee guide increases over 2021*
    Province/Territory Average Fee Increase
    Alberta 3.9%
    British Columbia 7.35%
    Manitoba 5.79%
    New Brunswick 5.9%
    Newfoundland and Labrador 5%
    Nova Scotia 7.05%
    Northwest Territories 3%
    Nunavut 3.1%
    Ontario 4.75%
    Prince Edward Island 4.75%
    Quebec 5%
    Saskatchewan 5.99%
    *Data for all provinces and territories was not available at the time of publication. This chart will be updated on EquitableHealth.ca as more information becomes available.
     

    Reminder: Review manual allocations for HCSAs and/or TSAs*

    If your client’s Health Care Spending Account (HCSA) and/or Taxable Spending Account (TSA) has manual allocations, they need to allocate these amounts to plan members each year. Please review all your plan members’ profiles on EquitableHealth.ca to ensure they have received their allocation(s) for the current benefit year.
     
    If your clients have Plan Administrator update access on EquitableHealth.ca, they can update these amounts online by doing the following:
    • Select “View certificate”
    • Select “Health Care Spending Account” or “Taxable Spending Account”
    • Select “Update Allocation” in Task Center
    • Enter amount in “Revised Allocation Amount”
    • Override Reason – “Plan Administrator Request”
    • Select “Save”
    If your clients have Plan Administrator reporting access on EquitableHealth.ca, they can determine which plan members have a zero allocation by running the “HCSA Totals by Plan Member” report online by doing the following:
    • Select “Reports”
    • Select “New”
    • Select “Next”
    • Select “HCSA” or “TSA Totals by Plan Member”
    • Select “Next”
    • Enter end date of “12/31/2020”
    • Select “Next”
    • Select “Finish”
    • View “Report”
    To provide us with the amounts to be updated, please have your client contact our Group Benefits Administration Team at GroupBenefitsAdmin@equitable.ca.

    Mental health resources for plan members*

    As the COVID-19 pandemic continues to evolve, many Canadians are experiencing increased levels of stress, anxiety, and depression. Through our partnership with Homewood Health®, all of our clients and their plan members have access to a number of health and wellness resources designed to provide guidance and support. These resources include a number of webinars which discuss various COVID-19 and mental health-related topics. The webinars are pre-recorded so plan members can stream them at their convenience.
     
    Understanding the Impact of COVID-19 on Your Mental Health
    English webinar
    French webinar
     
    COVID-19: Loneliness & Isolation Fatigue - Self-Care Strategies 
    English webinar
    French webinar
     
    COVID-19: Dealing with Seasonal Affective Disorder
    English webinar
    French webinar
     
    Reducing Anxiety & Managing the Transition Back to the Classroom - for Teachers
    English webinar
    French webinar
     
    COVID-19: Specialized Mental Health Support for Health Care Professionals
    English webinar
    French webinar
     
    COVID-19: Supporting Children’s Mental Health
    English webinar
    French webinar
     
    Additional resources, including articles, tools, videos and podcasts, are available at Homeweb.ca/Equitable. Please encourage your clients to share these resources with their plan members.
     
  10. [pdf] G3NU-Application for Non-Underwriting Change