When it comes to saving
money, there is no magic pill.
But there are real options.
It’s time to switch to mandatory
generic substitution.
What’s that?
It’s a feature in your employee health benefits plan that instructs pharmacists to fill prescriptions using generic medicines instead of much more expensive brand-name drugs whenever possible.
What are generic drugs?
They’re cost-effective alternatives that do the same job as brand-name drugs. Both are held to the same standards for quality, safety and efficacy by Health Canada.
Could this be costing your company money?
Absolutely. If you don’t have this clause in place, pharmacists will fill your employees’ prescriptions with expensive brand-name drugs. Switching to “mandatory generic substitution” instructs them to use generic drugs instead, which can cost up to 90% less than their brand-name equivalent.
Why haven’t you heard of this before?
Because it’s very easy to miss. Many companies have been overlooking it for decades. The good thing is that adding mandatory generic substitution to your health benefits plan is easy to do.
Talk to your HR department today.
Does your health benefits plan include mandatory generic substitution or are you paying a needless premium for more expensive brand name drugs? Find out now. We wrote a short message that you can edit and send to your team.