Over the past couple of weeks, a lot has been written about Finance Minister Bill Morneau’s proposal to fix the perceived unfairness in the way that private-business owners, family businesses, and incorporated professionals pay tax. While the proposal was not a surprise, it was the scope of the changes that many found alarming. In the days after the proposal became public, doctors’ associations, farmers, and small and medium-sized businesses have let the Minister and his government know that these changes will have a significant and negative effect on practicing doctors, the economy, and on the future of […]
Bill 92 amendments reduce drug costs, but so too will Quebec’s latest agreement
At the close of last year, the Quebec government passed Bill 92, An Act to extend the powers of the Régie de l’assurance maladie du Québec and to amend various legislative provisions.
Among the eighty-four amendments contained in Bill 92, is the requirement for pharmacies to detail drug cost, markup, and dispensing and/or professional fees on the pharmacy receipt.
While this kind of detailed breakdown is common practice in other Canadian provinces, it is new to Quebec and is effective September 15, 2017. Comments about this specific amendment suggest that transparency will boost […]
Will modernizing the Patented Medicines Regulations in Canada lead to savings?
The Patented Medicines Regulations, those rules that govern the pricing of pharmaceuticals in Canada, are about to change. Many would suggest that it’s about time. There have been no substantive changes in over 20 years and Canada pays some of the highest drug prices when compared to countries of the Organisation for Economic Co-operation and Development (OECD). The United States and Mexico are the only two OECD countries that have higher patented drug prices than Canada.
The government’s proposal, titled Protecting Canadians from Excessive Drug Prices, sets out amendments to the current drug pricing regulations and may […]
Government of Saskatchewan imposes PST on insurance premiums effective August 1, 2017
The Government of Saskatchewan will impose a 6% PST on all insurance premiums with an effective date on or after August 1, 2017. The original effective date for the application of the Provincial Sales Tax (PST) was July 1, 2017, but was extended to August 1, 2017, to provide additional time for implementation. The PST of 6 per cent impacts employers with employees in Saskatchewan and applies to the following:
Self-insured group benefit arrangements, also known as Administrative Services Only (ASO) arrangements
New individual permanent life insurance policies, including whole and universal life insurance, effective after […]
