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British Columbia’s New “Fair” PharmaCare Program Could Be Costly For Plan Sponsors
The British Columbia government claims that the May 1, 2003 introduction of a new Fair PharmaCare Program will reduce the drug costs paid by provincial residents. Unfortunately, it does not appear that the same can be said for employers and other plan sponsors who currently pay all or part of their members' PharmaCare claims costs. In addition, Fair PharmaCare's new registration system could have significant cost implications for plan sponsors with members who do not register. This Special Memorandum reviews the new program, discusses its impact on employers, and outlines steps that can be taken to minimize its impact.
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