Bill 28 passed - implications for group benefits plansLinkedIn
NB Bulletins Vol. 18 N. 6, may 2015
A step in the right direction
The National Assembly passed Bill 28 on April 20, 2015. This bill includes a host of budget measures and numerous changes to different laws. Several of the measures announced impact directly or indirectly group benefits plans. The table below presents a summary of expected impacts on plans.
The process is not complete…
Over the past few months, a public consultation exercise was completed in relation to Bill 28. As part of this exercise, several stakeholders from the insurance sector (including the Regroupement des assureurs de personnes à charte du Québec (RACQ) and the Canadian Life and Health Insurance Association (CLHIA)) expressed their views on the directions that the government should take on drug coverage. Normandin Beaudry consultants have also been focused on the elements necessary for ensuring the sustainability of group benefits plans.
The final content of Bill 28 was undoubtedly influenced by the actions taken by the industry to put forward the point of view of private plans. Although the final version of the bill is a step in the right direction from its original version, three key elements are still missing:
Following the evaluation of the regulations that will be published by June 20, 2015, and the analysis of the impacts for our group benefits clients, we are examining the possibility of supporting a movement aimed at mobilizing plan sponsors to influence the government. The form and the specific objectives of this type of movement would need to be determined. If we want the government's next actions to protect the interest of plan sponsors to the same extent as those of the public plan, the real payers, plan sponsors and their members, should perhaps get involved to present their point of view.
If you have questions or comments on this information bulletin, feel free to contact your Normandin Beaudry consultant.