Canada's Move Towards Universal Pharmacare: What You Need to Know

🩺Canada's current healthcare system does not cover prescription drugs, but the introduction of the pharmacare act will change that.

🔑The first phase of the pharmacare plan will cover contraceptives and diabetes drugs, with a more extensive list of essential medicines planned for the second phase.

💰The estimated cost of the full pharmacare plan is around $40 billion per year, but the government believes it can offset the expenses through bulk purchasing and lower drug prices.

🏥The universal pharmacare plan aims to provide free medications to all Canadians, regardless of their insurance status.

⏰The implementation timeline for the pharmacare plan is still uncertain, with the next phase likely to be an election promise.

Will all prescription drugs be covered under the pharmacare plan?

—No, the first phase of the plan will focus on contraceptives and diabetes drugs. The second phase aims to expand coverage to a longer list of essential medicines.

Who will be eligible for the universal pharmacare plan?

—The plan is intended to cover all Canadians, regardless of their insurance status. Anyone with a provincial health card can access the medications for free.

How will the government negotiate lower drug prices?

—The government plans to leverage bulk purchasing to negotiate lower prices with drug companies. By having all Canadians in the same pool, they can have more leverage in these negotiations.

What is the estimated cost of the full pharmacare plan?

—The full plan is projected to cost around $40 billion per year. However, this cost may be offset by savings from bulk purchasing and lower drug prices.

When will the pharmacare plan be implemented?

—The timeline for implementation is still uncertain. The first phase, covering contraceptives and diabetes drugs, could start within a year. The second phase, covering a longer list of essential medicines, may be a promise for a future term if the current government remains in power.

00:00[♪♪♪] Canada is currently the only country in the world with a universal healthcare system that does not cover prescription drugs. However, the government is introducing an act to change that.

00:23The first phase of the plan will focus on covering contraceptives and diabetes drugs. The government aims to negotiate lower prices through bulk purchasing.

03:56The estimated cost of the full pharmacare plan is around $40 billion per year. The government believes that the savings from bulk purchasing and lower drug prices can offset this expense.

05:05The universal pharmacare plan aims to provide free medications to all Canadians, regardless of their insurance status. People can access the medications by presenting their provincial health card at a pharmacy.

08:14The exact timeline for implementing the pharmacare plan is still uncertain. The next phase, covering a longer list of essential medicines, may only happen if the current government stays in power for another term.