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Good news: BC's Ministry of Health Services, the BC Pharmacy Association (BCPhA) and the Canadian Association of Chain Drug Stores (CACDS) have negotiated a new Pharmacy Services Agreement that is now in effect. Although the agreement is not binding on individual pharmacies, it is expected that the majority will comply.
This is good news because employee benefits plan sponsors will benefit from the savings on lower cost generics on the BC PharmaCare formulary. The expected savings between October 15, 2010 and July 3, 2011 is estimated to be 3.7% of drug costs. Savings will vary significantly by plan depending on the coverage design and employee demographics.
As of Oct. 15th, 2010, new generic drugs will be priced at 42% of brand name, and existing generics will be priced at 50% of brand name. Starting in July 2011, all generics will move to 40%, and in April 2012, they will be even further reduced to 35% of brand name!
In a move to appease pharmacies, dispensing fees will be rising slightly during the upcoming two years. Some benefits plans are designed to have a dispensing fee deductible, so the changes will not impact potential savings.
For more information, please feel free to call our office at 604.872.2866.
For the first half of 2011, the average dispensing fee in BC is $9.95. Here are the current dispensing fees for a variety of pharmacies in BC in order of most cost effective to least:
COSTCO $4.46
EMERGIS REIMBURSEMENTS $8.78
PHARMA PLUS / MEDICINE SHOPPE $9.49
ZELLERS $9.54
SAVE ON FOOD & DRUG $9.58
SANTE SERVICES $9.59
MEDITRUST (mail order) $9.59
LOBLAWS $9.60
OVERWAITEA $9.62
LONDON DRUGS $9.62
WAL MART $9.63
PHARMX REXALL $9.94
INDEPENDENT $10.18
MEDICAL PHARMACIES (OSH) $10.35
CANADA SAFEWAY $10.54
PEOPLES $10.58
SHOPPERS DRUG MART/PHARMAPRIX $10.72
PHARMASAVE $10.86
Benefits Plans
True Benefits can help you find the best employee benefits plan.
We have access to over 25 insurers, including the Chamber of Commerce Group Benefits Plan.
Life Insurance Rates
Here are monthly Term 10 Life Insurance rates for a healthy, non-smoker as of March 2012:
| Women | |||
| $250,000 | $500,000 | $750,000 | |
| Age 25 | $12 | $18 | $24 |
| Age 35 | $14 | $22 | $30 |
| Age 45 | $22 | $35 | $51 |
| Age 55 | $52 | $88 | $130 |
| Men | |||
| $250,000 | $500,000 | $750,000 | |
| Age 25 | $18 | $28 | $39 |
| Age 35 | $19 | $29 | $42 |
| Age 45 | $30 | $53 | $78 |
| Age 55 | $72 | $135 | $201 |
For a free personalized insurance quote, click here.
Clients Say:
"Rachel is professional, courteous and very knowledgeable while providing outstanding customer service. She is well prepared, delivers personal service, and understands our desire to provide the best possible benefit plan to our employees in the most cost effective manner."
"I appreciate having a person who is both local and accessible, and was impressed with the initial presentation outlining the options available to us. It is extremely helpful to have Rachel advocating on our behalf."
"True Benefits has totally met our needs. Rachel gives personalized attention, and is very thorough. She has suggested many good ideas that we have used to benefit our employees."
"I have referred many clients to Rachel in the past, and without exception, they have all commented to me on her professionalism, vast industry knowledge, great service, and fast response time."
Thank you for everything that you have done for our family. We are grateful for all your hard work. We look forward to working with you again in the future.
"True Benefits has an understanding and awareness of the importance of an effective benefits program. They're proactive in looking for cost effective improvements to plan design and cost containment strategies. My expectations were exceeded - Rachel delivered as promised in a timely manner."
"Thank you Rachel. Great service as always. You anticipated our needs."
I used True Benefits to sort through a tricky health insurance issue related to immigration status and an expired work permit. Rachel recommended a cost effective solution and quickly verified the policy was the best choice for my situation. My new health coverage was effective within 2 hours of my initial call to Rachel! I highly recommend working with Rachel at True Benefits for cost effective solutions and friendly and efficient service.
Your attention to detail and willingness to never to never take "no" for an answer on my behalf left me in awe of your business ethics.
I will continue to use your services, based on your work ethic and my ability to trust that the policy you are suggesting is perfect for me.
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