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Equitable Life Takes a Thoughtful Approach to Generic Drug Plan Management


Equitable Life of Canada is enabling clients to capitalize on the unprecedented number of generic drugs available and generic drug pricing reform by implementing Mandatory Generic across all group drug plans.

There have been a significant number of highly utilized drugs that have lost patent exclusivity, and Provincial generic pricing regulations have swept the country. Brand drug manufacturers are responding with strategies to retain patient loyalty by offering offsets to price differences through the use of patient choice programs. To capitalize on the availability of generics for many blockbuster drugs and the Provincial generic price reform, Equitable Life is implementing Mandatory Generic to all group drug plans.

Plan Sponsors who choose to capitalize on opportunities associated with generic drugs will see a reduction applied to their health rate at the time of renewal. Applying mandatory generic to group benefits is a timely opportunity for Plan Sponsors to reap rewards and add long-term sustainability to their drug plan.

As part of our proprietary Drug Plan Management Toolkit suite of communication tools, Equitable Life has designed support tools to assist Advisors and Plan Sponsors with more effective decision and implementation of a mandatory generic drug plan. We have included fast facts about generic drugs, drug industry trending and encouraged Plan Members and their families to share responsibility in the sustainability of a benefit which is so important to them.

How Mandatory Generic Works - We will reimburse up to the lowest cost alternative

-When a pharmacy submits a claim for an interchangeable Brand drug, they will be notified that reimbursement is limited to the lowest cost interchangeable drug.

-Equitable Life will continue to pay for the cost of single source Brand drugs.

-If the patient prefers the Brand drug over the interchangeable generic drug, they will be responsible to pay the difference in cost.

-Even if the Physician indicates “No Substitution” Equitable Life will only pay the cost of the interchangeable generic drug.

-Exceptions can be made in rare cases. The patient’s Doctor or pharmacist must complete a Health Canada Adverse Drug Reaction Form and submit to Equitable Life for approval.

More Information about Equitable Life’s Mandatory Generic Drug Plan is available through your nearest Equitable Life Group Marketing Manager.

About Equitable Life of Canada
Since 1920, customers have been depending on Equitable Life of Canada for financial protection. As one of the largest mutual life insurance companies in Canada, Equitable Life® is dedicated solely to its policyholders. Everything we do is focused on providing them with personalized service, security and wellbeing. Through Managing General Agencies and Advisors, Equitable Life offers a wide selection of competitive Individual Life and Health, Savings and Retirement and Group Benefits products to meet a range of financial planning and health needs.


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