PEI to improve catastrophic drug coverage program to make medication more affordable and accessible
No Canadian should have to choose between paying for prescription drugs and putting food on the table. Unfortunately, many are faced with this impossible decision every day. As part of the Improving Affordable Access to Prescriptions Drugs (IAAPD) program, supported by the Government of Canada, the Government of PEI will reduce Island residents' out-of-pocket costs for many prescription medicines.
Today, the Honourable Jean-Yves Duclos, Canada's Minister of Health, and the Honourable Mark McLane, Minister of Health and Wellness for Prince Edward Island (PEI), announced that as of July 1, 2023, PEI will enhance its Catastrophic Drug Program by lowering the cap on the amount of money a household needs to spend out of pocket on eligible medications. The province has added more income threshold levels and adjusted household income expenditure calculations. As such, after July 1, 2023, eligible PEI household enrolled in the Catastrophic Drug Program will not have to spend more than 6.5% of their household income on eligible medications. With this change, once the 6.5% cap has been reached, eligible medication costs for the remainder of the year from July 1 to June 30 will be paid through the Catastrophic Drug Program. These new changes are expected to save eligible Island residents an estimated total of $430K annually.
This latest improvement to PEI's drug programs marks another important milestone in improving the affordability and accessibility of prescription drugs for Island residents that will result in better health outcomes for many. Details on PEI's support for the cost of prescription medication are available on the Prescription Care website.
Through this partnership with the Government of Canada, PEI is aiming to make further improvements to their drug programs, such as increasing coverage and simplifying access. Under the IAAPD, those who experience the most vulnerability, including uninsured Island residents, seniors, and families with high burden of medication cost, will benefit from improved access to medications.
