Insurance-canadian.com - insurers pool resources

Canadian insurers pool resources for small business savings

For small to medium-sized Canadian businesses, drug plans can be a challenge. Now, some twenty Canadian insurance companies plan to start pooling resources to protect access to expensive drugs prescribed for diseases such as multiple sclerosis, rheumatoid arthritis or cancer. Since 2008, large claims (over $25,000) have risen by 23% in Canada. The new pool will be used to help cover these types of large claims.

In an interview with the Vancouver Sun, insurance consultant Dave West explains,
"If drug costs rise 5% across the board, everyone's going to have to pay more," says Mr. Frank. "But what will not happen is that a handful of people won't have a 2,000% increase. [This is] a form of insurance people are happy to pay because no one ever knows what's going to happen."

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Blue Cross covers expenses not covered by most provicial medical coverage plans. Blue Cross website