Contribution requirements for the Quebec Public Prescription Drug Insurance Plan
Effective July 1, 2020, the contribution requirements for the Quebec Public Prescription Drug Insurance Plan were changed as indicated in the following table:
|Before July 1, 2020||Since July 1, 2020|
|Maximum annual out-of-pocket||$1,117||$1,144|
|Maximum annual premium*||$636||$648|
Impact on iA Financial Group's group insurance plans
These changes do not require any amendment to your group insurance contract since the coverage provided is at least as generous as the public prescription drug insurance plan.
In addition, iA Financial Group group contracts stipulate that “any modification to the Act respecting prescription drug insurance which relates to the basic prescription drug insurance plan will also modify the relevant provisions of the present contract”. Thus, since July 1, 2020, drug claims are adjudicated based on the new requirements.
If you have any questions, please contact your advisor or your iA Financial Group Account Executive.
* The maximum will be $658 ($649 before July 1, 2020) for those aged 65 and over who receive the Guaranteed Income Supplement (GIS) at a rate of 1 to 93%.