Les Herr CEO of Empire Life explains this giant step forward.
Agreement for Group Benefit Plans
The Canadian life and health insurance industry announced an industry-wide drug pooling agreement to help mitigate the impact of high drug costs on fully insured plans; the agreement ensures the long-term sustainability of group drug plans in the face of increasing costs of high-cost catastrophic drugs.
I always get requests for group benefit quotes with the expectation that I can give a quote instantly. Unlike, an individual health benefit or life insurance quote this is unfortunately not the case. The process does take quite a bit longer. Especially if you want to find the insurer that is the best fit for your industry/company.