New Financial Parameters for the Quebec Prescription Drug Insurance Plan
There, in black and white
NB Bulletin Vol. 12 N. 7, June 2009
The Régie de l'assurance maladie du Québec recently announced the new financial parameters that will apply to the public prescription drug insurance plan for the period of July 1, 2009 to June 30, 2010. One of the provisions of Quebec's Act respecting prescription drug insurance provides for the revision of these parameters on July 1 each year to take into account the increase in plan costs.
The table below presents the changes to the parameters that will apply to all individuals covered under the public plan, with the exception of those who receive prescription drugs free of charge (no premium or contribution) and individuals aged 65 or over receiving less than 94% of the Guaranteed Income Supplement (GIS), who are subject to a reduced contribution:
| || Before|
July 1, 2009
July 1, 2009
|Maximum annual premium||$570||$585|
|Maximum contribution1|| || |
|1 This amount includes the deductible and coinsurance.|
The following individuals who are not covered by a private plan receive prescription drugs free of charge:
- holders of a claim slip (generally recipients of last-resort financial assistance);
- individuals aged 65 or over receiving from 94% to 100% of the GIS; and
- children under age 18 and full-time students from age 18 to 25 who do not have a spouse and live with their parents.
Impact on private group insurance plans
These amendments could impact private group insurance plans, as illustrated below:
|Type of private plan|| Impact|
Plans for which certain financial parameters (deductible, coinsurance, maximum annual contribution) are determined by those from the public plan
Decrease in the amount assumed by the private plan (increase in the amount assumed by the insured)
Plans that are integrated ("second payers") with the public plan for individuals aged 65 or over
Increase in the amount assumed by the private plan (no impact on the amount assumed by the insured)
In addition to the financial impacts outlined in this bulletin, the amendments to the financial parameters applicable to the Quebec Prescription Drug Insurance Plan may also affect the wording of contractual documents if they do not already provide for the periodic amendments to the parameters of the public plan.
Finally, you should ask your insurer whether the parameters of your plan are automatically updated and confirm the effective date of the changes to your plan.
Please feel free to contact us for additional information.
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