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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 Erelzi	Ankylosing Spondylitis Rheumatoid Arthritis Polyarticular juvenile idiopathic arthritis (JIA) Psoriatic Arthritis Plaque Psoriasis (adults and children)
Infliximab	Remicade	Inflectra Renflexis Avsola	Ankylosing 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 Nivestym	Neutropenia
Pegfilgrastim	Neulasta	Lapelga Fulphila Ziextenzo	Neutropenia
Glatiramer*	Copaxone	Glatect TEVA-Glatiramer Acetate	Multiple 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 Initiative

In 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):

Transaction Authorization Requirements table for Savings & Retirement advisors Equitable Life® is here to help. When it comes to getting certain transactions authorized in a non face-to-face environment, you might need some direction. We’ve got you covered.

Equitable has created a quick reference table on EquiNet™. The Transaction Authorization Requirements table provides details on how to get certain forms approved and the best way to get them to us. Each form listed gives the authorization type that is accepted. We’ve also provided details when we receive a document that is considered not-in-good-order.

As we navigate through COVID-19, we will continue to update this table. This means you have the most current information available at your fingertips, 24/7.

Have other questions about COVID-19? Check out our Savings & Retirement COVID-19 update page on EquiNet as well. This page provides the latest news and information for Savings & Retirement advisors.

Still have a question? Give our Advisor Services team a call Monday to Friday 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427 or email savingsretirement@equitable.ca, or your local Regional Investment Sales Manager.
2026/2027 Dividend scale announcement, plus new Performance and perspective par fund report
Good news! Equitable’s Board of Directors has approved maintaining our current dividend scale, including the dividend scale interest rate of 6.40%, effective July 1, 2026, through June 30, 2027.*

These factors are also staying the same:
• The interest rate* used to decide the dividend scale is unchanged at 6.40%.
• The interest rate for policies with dividends on deposit stays at 3.50%.
• The interest rate for most policy loans continues to be 6.50%. **

A stable dividend scale reflects strong, long‑term management of the participating fund.

Find out what’s new with Equitable Individual Insurance and hear the 2026 Dividend Scale announcement

(*French and Chinese events will be partially in English, with sub-titles on screen).

New! Performance and perspective participating fund report
You now have a powerful new resource, Performance and perspective, to support your client conversations about Equitable’s participating fund. It’s designed to give you a transparent view of 2025 participating fund performance to help you explain long‑term value simply, and position Equimax^®participating whole life as a long‑term solution, not just a product.

View the Performance and perspective report: English, French, Chinese

Reasons to use Performance and perspective
• It strengthens your conversations and builds client confidence by showing the participating fund asset mix, historical performance and long‑term approach all in one place.
• It helps you explain with clear visuals how the participating account is managed, not just how it performed.

Why this matters to clients
• They get transparency into where their money is invested.
• They can see how participating solutions are managed over time, not year to year.
• They gain confidence in long‑term planning decisions, supported by facts.

Need more information?
• Dividend Information Page
• 2026 Advisor Dividend Scale Notice
• 2026 Client Dividend Scale Notice

*Dividends are not guaranteed and are paid at the sole discretion of the Board of Directors.
**Applies to new and existing policy loans and automatic premium loans, specifically Equimax^®policies with 9-digit policy numbers beginning with 3 or 8. Older policies may have different loan rates as they reflect the prime interest rate.
Fresh new look for Equitable’s Path to Invest
When we grow together, success is mutual. At Equitable, we’re committed to supporting your professional growth. Path to Invest, our self-serve online education and training resource, has been redesigned to deliver a simpler and more streamlined experience for advisors.

You can now register and log in to Path to Invest, complete the modules, download resources, contact us with questions and access your CE certificates all in one place. Plus, our always-on Path to Invest modules offer new engagement tools like Refer a Colleague, Meet the Team and Learn More, an AI feature that allows you to further your content journey using AI suggested content.

Grow your knowledge - and your business - with Equitable. Check out our current selection of investment training modules today and watch for more modules coming later this year.

Date posted: March 12, 2025
New Term Rider for Equitable Generations
Affordable, Flexible Protection for Clients

Great news! As of June 7, 2025 you can now offer clients a Term 30/65 Rider on Equitable Generations™ universal life plans. This new rider will help you provide clients more choice in affordable and flexible solutions to align with their financial goals.

What this new rider means for clients:
• Coverage until the later of 30 years or age 65
• Premiums remain level
• Coverage convertible to a permanent plan until age 60

The Term 30/65 Rider complements the 10 and 20 Yearly Renewable and Convertible Term Riders already offered on Equitable Generations.

This enhancement reflects Equitable’s commitment to growing and evolving our products, ensuring you have the solutions to meet clients’ changing needs.

Transition Rules
Check out our Transition Rules for new and in-progress life applications, which took effect on June 7, 2025.

Questions? Contact your Equitable^® wholesaler.
Term vs permanent life insurance: helping clients choose the best solution for them Most people understand why life insurance matters. What they’re often unsure about is which type of coverage is right for them. As an advisor, you’re in a unique position to do more than present options, you can help clients feel confident they’re making an informed choice.

Start with the client, not the product
Before discussing insurance solutions, you can start by asking three important questions:
1. What do you need to protect today?
2. What are you trying to achieve for the future?
3. What is your budget?
By asking these questions you will get a better understanding of which solution fits the client’s needs.

Matching the solution to the client
Term life insurance may be ideal for clients who have budget considerations and need coverage for:
• Helping to replace income
• Helping cover a mortgage or other debts
• Business protection
• A specific period of time (10 – 30 years)
If a client wants lifetime coverage but can’t afford it right now, term insurance is a good option. It gives them affordable coverage today that they can later choose to convert to permanent insurance when their income increases.¹

Permanent life insurance (whole life and universal life) is an option for clients looking for lifelong coverage and added long-term value. It’s a good option for clients who want to:
• Build an inheritance
• Preserve their estate
• Build tax advantaged cash value growth

Permanent life insurance is also an excellent way for parents or grandparents to help give children or grandchildren some lasting financial security. It secures lifetime protection at a lower cost when the child is young and healthy. It also offers the potential for cash value growth that they can access if needed.

Helping clients make confident choices
By focusing on what the client needs now—and what they might need later—you can help them pick life insurance that fits their changing life and financial goals. Share this client‑friendly piece that outlines some of the things that clients should consider to make an informed decision:
Which life insurance solution is right for you?

Reminder: Clients’ needs can change; it’s a good idea to review their coverage regularly.

For any questions, contact your Equitable wholesaler.

¹See contract for details on conversion limitations and eligibility.
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