November 11 Benefits and Pensions Monitor Daily News Alerts

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Pilot Program Assesses Electronic PA

TELUS Health, Canada Life, and Innomar Strategies have launched an electronic drug prior authorization (ePA) solution for Canada. It will start with a pilot program to assess the value and potential benefits for users. The companies will test the digitized process to fulfill prior authorization submissions for real prescription cases and evaluate its impact on process efficiency, consistency of adjudication results, and the overall plan sponsor and member experience. Prior authorization is applied to certain prescription medications to determine if a benefits plan member is approved to receive coverage for that specific drug. Digital ePA solutions, which are available in other countries, help to unlock system efficiencies and productivity gains, resulting in decreased time spent fulfilling prior authorization submissions. With submissions in Canada expected to grow due to the increased utilization of specialty medicines, and even more coming to market, this ePA solution is set to make a significant impact across the country’s health benefits industry.

Ontario Preserves Target Benefit Framework

The Ontario government’s 2020 Budget ‒ Ontario’s Action Plan: Protect, Support, Recover ‒ addresses its ongoing commitment to develop a target benefit framework under the Pension Benefits Act (PBA), says a Hicks Morley ‘FTR Now.’ It has also taken steps to preserve the previously enacted but not-yet-in force framework from automatic repeal. The PBA’s target benefit framework was first enacted a decade ago by Bill 120. These provisions were subject to repeal on December 31, 2020, because they had not been proclaimed in force during the 10 years following the original enactment date in 2010. In order to avoid this, the not-yet-in force provisions related to target benefits have been re-enacted largely in the same form as they were originally enacted. The re-enacted target benefit changes to the PBA will only come into effect on a future date to be proclaimed by the Lieutenant Governor of Ontario. The budget also highlighted a commitment to consolidate smaller public sector pension plans with larger pension plans as part of its strategy of supporting the sustainability and affordability of public sector pension plans. It notes that consolidations produce substantial savings by increasing efficiencies, reducing agency pension administration costs, and leveraging cost-effective asset management through the Investment Management Corporation of Ontario (IMCO).

For details on these stories, visit www.bpmmagazine.com

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