WATERLOO, ON, Jan. 23, 2012 – Equitable Life of Canada® is proud to announce the launch of a new Drug Plan Management Toolkit.
“Our clients have consistently told us that drug benefit costs are a growing concern,” says Karen Mason, Senior Vice President, Group – Equitable Life of Canada. “With the launch of our Drug Plan Management Toolkit, Equitable Life enables Advisors and Plan Sponsors to thoughtfully manage drug benefits with highly customized tools and end-to-end solutions that matter.”
The drug landscape in Canada is clearly shifting. Examples include generic price regulations, demand shift driven by demographics and drug innovation in the treatment of common and rarer diseases. Small and mid-sized employers, in particular, value improved access to comprehensive, yet simple methods to better understand the nature of their drug plan risks and opportunities that allow them to implement tailored solutions based on fact-based insights.
Fully integrated with the Equitable Life HealthConnector® platform, the new Drug Plan Management Toolkit includes a number of advantages, for example:
- Unique, practical and highly customized diagnostic drug reports designed to highlight key drug plan performance metrics. The reports include practical guides to interpret results and robust support data to enable fact-based decisions that are specific to the client’s health environment.
- A suite of user-friendly communication tools for Plan Sponsors and Plan Members that defines and illustrates the value of drug plan management and various drug plan design options. These communication tools bridge the key stages of change: awareness, assessment, education and implementation from both the Plan Sponsor and Plan Member perspective.
“The relevance of drug plan management has been recognized for many years,” explains Martin Chung, Assistant Vice President Strategic Health Management – Equitable Life of Canada. “When it comes to addressing their increasing healthcare challenges, Plan Sponsors have often been limited by the absence of practical, client-specific insights that illustrate why a thoughtful approach to drug plan management matters, plan options that make strategic sense and direction on how to implement efficiently and with sensitivity to Plan Member needs.”
“The Drug Plan Management Toolkit is the latest example of how Equitable Life provides insightful end-to-end Group Benefit management solutions,” adds Mason. “We continue to provide these solutions so that our clients can capitalize on the changing economies of employee benefits and the rapidly changing broader healthcare environment.”
About Equitable Life of Canada
Since 1920, customers have been depending on Equitable Life of Canada for financial protection. As one of the largest mutual life insurance companies in Canada, Equitable Life® is dedicated solely to its policyholders. Everything we do is focused on providing them with personalized service, security and wellbeing. Through partnerships with Managing General Agencies and Advisors, Equitable Life offers a wide selection of competitive Individual Life and Health, Savings and Retirement and Group Benefits products to meet a range of financial planning and health needs. www.equitable.ca