A Prescription for Better Medicine: How universal pharmacare would give Canada an economic advantage

Health care report

Canadians across the country know that a universal, national drug coverage plan – also known as pharmacare – is long overdue.

The evidence shows that our current system is untenable in the long term since it cannot control rising drug costs. But there are other viable options.

Prescription drugs generally represent the largest portion of the cost for employer-provided benefits plans and are a contentious bargaining issue. This report will show how universal pharmacare would save businesses money, improve the competitiveness of Canada’s labour market, and bring down labour costs in Canada as drug benefits would no longer be a part of labour negotiations. Medicare already provides Canadian employers with an economic advantage. Since pharmaceuticals are the second largest component of health care spending in Canada, a universal, public pharmacare program would add considerably to this advantage.

Thursday, April 27, 2017