This is The Friday GAB, a weekly roundup of all the things happening in the group benefits industry. Send me your news and updates to email@example.com It’s Good Friday today, I hope everyone has a nice long weekend.
First up, as the election date gets closer every day the current Government in Province of Ontario wants to remind you that they are doing stuff with benefits too. But they won’t tell you anything about the portable benefit program targeted towards the gig economy until after the election. Their interim report is due out in July.
The Friday GAB wouldn’t be complete without some M&A news. Dialogue has reached an agreement to acquire London, UK-based Tictrac Ltd. .Tictrac is a SaaS-based provider of a global health and wellness platform that enables healthier living for everyone.
The government finally made a decision and announced that it will proceed with Amendments to the Patented Medicines Regulations to provide the Patented Medicine Prices Review Board (PMPRB) with new tools to protect Canadians from excessive prices for patented medicines. Health Canada will be moving forward with the implementation of the new basket of comparator countries and reduced reporting requirements for those medicines at lowest risk of excessive pricing. These Amendments will come-into-force on July 1, 2022.
However the Government will not proceed with the Amendments related to the new price regulatory factors, nor with the requirements to file information net of all price adjustments. CLHIA is happy about the new baskets. I assume Pharma is happy about no amendments because people like Steve Morgan are not.
The good people at myHSA made an exciting announcement that they have entered into an arrangement to partner with AVP Bizflex – bringing their extensive existing business to our online platform. Bizflex is regarded as one of the premier providers of PHSP, Wellness and insured products for Advisors and clients across Canada. Founded more than 25 years ago by Peter Johnson and his team, their meticulous attention to Advisors and clients has contributed to the ongoing success and modernization of one of the most successful HSA platforms built and sold in Canada. Congratulations to all involved!
If you’re looking for some benefits material to help you relax this weekend, (ha!) check out the HR ShopTalk episode on benefits trends and why HR should care about them.
And that’s this week’s Friday GAB. Hoppy Easter.