Don't tell the liberscarians.
Universal pharmacare would save Canadians $4.2B a year, parliamentary budget officer says
Establishing a universal program for prescription medications would amount to about $4.2 billion in savings annually in Canada, the parliamentary budget officer says in a new report.
The report, requested by the House of Commons standing committee on health, was released Thursday.
It provides estimates of the cost to the federal government for a national pharmacare program based on the list of drugs publicly covered in Quebec.
The office estimates roughly $28.5 billion was spent on prescription drugs in 2015-16, and $24.6 billion of that total would have been eligible under a pharmacare program.
When Paul Scott was diagnosed with kidney cancer, he and his wife, Marianne, initially worried about how they'd pay for his medications. (CBC)
"After accounting for pricing and consumption changes, PBO estimates total drug spending under a national pharmacare program would amount to $20.4 billion, if implemented in 2015-16," the report's authors said. "This represents savings of roughly $4.2 billion."
The report says the reduced totals would break down this way:
Government: $11.9 billion.
Private insurance plans: $9 billion.
Patients: $3.6 billion.
Canada is the only industrialized country with universal medicare that does not provide universal coverage for prescription medications.
Universal pharmacare would save Canadians $4.2B a year, parliamentary budget officer says - Health - CBC News
Universal pharmacare would save Canadians $4.2B a year, parliamentary budget officer says
Establishing a universal program for prescription medications would amount to about $4.2 billion in savings annually in Canada, the parliamentary budget officer says in a new report.
The report, requested by the House of Commons standing committee on health, was released Thursday.
It provides estimates of the cost to the federal government for a national pharmacare program based on the list of drugs publicly covered in Quebec.
The office estimates roughly $28.5 billion was spent on prescription drugs in 2015-16, and $24.6 billion of that total would have been eligible under a pharmacare program.
When Paul Scott was diagnosed with kidney cancer, he and his wife, Marianne, initially worried about how they'd pay for his medications. (CBC)
"After accounting for pricing and consumption changes, PBO estimates total drug spending under a national pharmacare program would amount to $20.4 billion, if implemented in 2015-16," the report's authors said. "This represents savings of roughly $4.2 billion."
The report says the reduced totals would break down this way:
Government: $11.9 billion.
Private insurance plans: $9 billion.
Patients: $3.6 billion.
Canada is the only industrialized country with universal medicare that does not provide universal coverage for prescription medications.
Universal pharmacare would save Canadians $4.2B a year, parliamentary budget officer says - Health - CBC News
