Insurer partners with pharmacy to mitigate drug costs

by Nicolas Heffernan11 Feb 2015
Equitable Life of Canada is partnering with Rexall to stem the bleeding to plans from high-cost specialty drugs.

The two companies are launching Partners in Savings, a pilot program to mitigate the impact of catastrophic drug claims for plan sponsors and give added value to plan members.

“Recent advancements in health care have come with an equal advancement in cost,” said Martin Chung, Assistant Vice President – Strategic Health Management at Equitable Life. “Not only does the Partners in Savings program provide plan members with an opportunity to lower their out-of-pocket drug costs, but it allows them to contribute to the long-term sustainability of their group benefits plan while receiving high-quality patient care and prescription services from a trusted Canadian pharmacy brand.”

The program is initially available to employers in Ontario. It provides preferred pricing of eligible prescription drugs through the partnership with Rexall, which owns and operates more than 450 community pharmacies, as well as MediTrust Pharmacy, Canada’s largest home delivery pharmacy.

Plan members also benefit from additional savings through reduced dispensing fees when they fill their prescriptions at Rexall, Rexall Pharma Plus or MediTrust Pharmacy, as well as discounts on hundreds of commonly used Rexall private brand non-prescription products with the Rexall Pharma Plus Exclusive Savings Card.

The Partners in Savings Program is one of Equitable Life’s many drug plan management strategic offerings to help plan sponsors provide responsible access to prescription medications while protecting the long-term sustainability of their drug plans.