This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Canada's Life And Health Insurers Support Provinces' Plan To Lower Prices On Generic Drugs

TORONTO, Jan. 18, 2013 /CNW/ - The Canadian life and health insurance industry enthusiastically supports today's announcement by Saskatchewan Premier Brad Wall and Prince Edward Island Premier Robert Ghiz that Canada's provinces will be reducing the maximum price for six of the most common generic drugs to 18 per cent of the equivalent brand-name drug.

The industry is particularly pleased that the provinces' approach to lowering generic prices will apply equally to all. This means that all Canadians will benefit regardless of whether they are reimbursed for their drugs costs from a provincial plan or a private employer plan; or pay for their drugs out of their own pocket.

"Keeping the cost of prescription drugs at manageable levels is critically important to not only public plans, but also to Canada's employers that sponsor private plans and their employees," noted Frank Swedlove, president of the Canadian Life and Health Insurance Association (CLHIA). "By ensuring lower drug prices for all, the governments' initiative announced today contributes in a meaningful way to dealing with the rising cost of health care in Canada."

Canada's life and health insurers provided reimbursements for prescription drug costs of over $10 billion to some 23 million Canadians in 2011. Prescription drugs purchased privately account for 55 per cent of the total drugs purchased in Canada.

About the CLHIA

The CLHIA is a voluntary association whose member companies account for 99 per cent of Canada's life and health insurance business. The industry is the principal provider in Canada of individual and group supplementary health benefit products and services and plays a significant role in wellness, disease prevention and in supporting recovery.

SOURCE Canadian Life and Health Insurance Association Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,487.69 -13.96 -0.08%
S&P 500 1,877.37 +1.98 0.11%
NASDAQ 4,143.8050 +16.8380 0.41%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs