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  1. Yukon to implement national pharmacare on April 15

    The Yukon territory will implement the first phase of its pharmacare program via the National Pharmacare Act, also known as Bill C64 (Act), on April 15, 2026.

     

    The Yukon joins Manitoba, British Columbia and Prince Edward Island, who have already implemented the first phase of their own programs. All signed bilateral pharmacare agreements with the federal government last year.

     

    National pharmacare coverage details

     

    The Government of Canada will provide universal access to contraceptive and most diabetes medications for Yukon residents. This funding will also improve access to diabetes devices and supplies.

     

    Yukon residents will receive public coverage for a range of contraceptives and diabetes medications at little to no cost.

     

    Many diabetes medications, such as metformin, insulin, sulfonylureas and SGLT-2 inhibitors, will be fully covered under the Yukon pharmacare program. Some diabetes medications will only be partially covered.

     

    Effective April 15, 2026, Equitable will no longer cover drugs that are eligible for coverage under Yukon pharmacare.

     

    What will Equitable plan members need to do?

     

    Coverage under the Yukon pharmacare program will be provided automatically at the pharmacy counter.

     

    Equitable group benefits plan members simply need to present a prescription for a covered medication to their pharmacist. The pharmacist will charge the provincial plan directly for the relevant medications.

     

    Where do GLP-1 drugs fit in?

     

    GLP-1 agonist drugs, such as Ozempic, will not be covered under Yukon pharmacare. Equitable plan members who are prescribed this type of drug to treat diabetes must try a first-line diabetic treatment before we can deem them eligible for coverage of the GLP-1 agonist under their Equitable group plan.

     

    Plan members who are already taking a GLP-1 agonist to treat diabetes and have previously received coverage under their Equitable group plan will continue to be eligible for coverage. New plan members or plan members with new prescriptions for GLP-1 agonists must provide us proof that they’ve tried a first-line diabetic treatment to be eligible—unless we already have a previous record of their insulin use. Proof can be either a past receipt or a claim statement.

     

    Our priority is supporting the best outcomes for plan sponsors and their members. We are working with TELUS Health, our pharmacy benefits manager, to keep you updated as more details become available.

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  9. Changes to the PMPRB

    Earlier this month, the Government of Canada announced the final amendments to the Patented Medicines Regulations. These changes will impact how the Patented Medicine Review Board (PMPRB) sets the ceiling price for patented drugs and evaluates if the price of a drug reflects the value it has for patients. The intent of these updates is to enable the PMPRB to more effectively protect Canadians from excessive patented drug prices.

    These changes do not come into effect until July 1, 2020. Finalizing the guidelines and consultation with stakeholders will occur leading up to this date. It is yet to be determined which drugs will be included in the final guidelines. It is anticipated the guidelines will initially focus on drugs launched shortly prior to and after July 1, 2020.

    Equitable Life supports the modernization of the PMPRB and the ongoing need to evolve drug plan management tools in order to support the health of Canadians and drug plan affordability for public and private payers.

    If you have any questions, please contact your Group Account Executive.

  10. Equitable Life Savings & Retirement Webinar Series features Payout Annuities In 2021, Equitable Life’s S&R team will spotlight various aspects of our competitive fund line up and product offerings. Each webinar in the series will feature a new topic. The series will also give advisors an opportunity to:
    • learn more about various products and product features,
    • hear from industry professionals,
    • learn about investment strategies; and so much more.
    This month, Equitable Life is featuring a discussion on Payout Annuities. Hear why payout annuities provide a guaranteed income that is worry-free and receive insights into how a payout annuity can fit into your client’s retirement plan. Learn about the features and advantages a payout annuity can provide to your client.
     
    Join your host, Joseph Trozzo, Investment Sales Vice President as he welcomes Nicole Lemon, Product Manager, Savings and Retirement, Equitable Life of Canada for a discussion on Equitable Life’s Payout Annuities.
     
    Learn more