Quebec group insurance pooling update 2010

#195

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What's changing?

Every year the Quebec Drug Insurance Pooling Corporation (also referred to as the Société de compensation en assurance médicaments du Québec) revises the Quebec group insurance pooling parameters. We have started applying new pooling levels and fees to all 2010 renewal calculations that involve Quebec plan members.

 

Who does it affect?

All group insurers in Quebec contribute to a pooling plan that protects private sector plan sponsors against the financial impact of large claims for drug costs. Based on pooling results for previous years, the Quebec Drug Insurance Pooling Corporationsubmitted a report to Quebec’s Health and Social Services minister. The report details 2010 pooling parameters and has been approved by all industry members.

 

How does it affect our clients?

Pooling levels and fees are designed to cover predicted costs for claims and operating expenses associated with prescription drugs. While the overall pooling structure remains the same, new pooling levels and fees apply for 2010:

 

2010 pooling parameters

Group size

Pooling level

Annual
single fee

Annual
family fee

Eligible groups

Fewer than 25

$4,800

$128

$354

Insured and ASO

25–49

$12,400

$60

$163

Insured and ASO

50–124

$23,000

$23

$63

Insured and ASO

125–249

$37,000

$10

$27

Insured only

250 and over

$60,000

$3**

$8**

Insured only*

* Pooling of RAMQ drugs only.

** For information purposes only, estimated charges.

 

Furthermore, the Corporation established a two-year plan to extend Quebec group insurance pooling to ASO plans of 125 employees and more, starting January 1, 2011.  Parameters will be finalized in the first months of 2010 and will be communicated to you as soon as we receive official confirmation.

 

Questions?

Please contact your Sun Life Financial group representative.