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Empire Life launches a product that is of mutual insurance drugs

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5 February 2018 13:30

Photo : Freepik

The insurance company Empire Life has announced the launch of a new product line, pooling of $ 7,500 for the drug only. This option is available for existing customers at the time of the renewal since the 1st of February.

The insurer says that with the progress of medicine and the arrival of new drugs very expensive on the market, it is important to offer a variety of options for small and medium-sized enterprises. «This is why we will maintain our option of pooling of 10 000 $ and invest in our products pooling in offering this new insurance option just drugs,» said Empire Life.

Available to the insured, and the plans SAS

Empire Life will provide the option of mutualisation of $ 7,500 for drug coverage only as to the plans insured plans with administrative services only (aso). This option will be matched to the characteristics of management costs, including the mandatory substitution for generics, the drug program’s specialty, prior authorization, therapy steps and the costs of preparing and increase in the cost of medicine reasonable and customary, says the insurer.

«We take measures to protect the pooling threshold little high since they are useful to small and medium-sized enterprises. While the sector requires companies to expose more to the risk by increasing the thresholds for the pooling, or paying more for the same protection, we are proud to offer a solution that helps clients limit their exposure to regulations high, » says Steve Pong, senior vice-president, insurance solutions group.

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