Statement from the Canadian Chamber regarding today’s announcement that the Liberals and NDP have reached a Pharmacare deal

Today’s announcement is concerning in that it appears to lay the foundation for a national single-payer pharmacare program. While one can understand the desire to provide all Canadians with coverage, this new system is plagued with problems.

Canadians should have access to the medicines they need. But a single-payer system is a complicated and costly solution, which has been estimated to cost up to $38.9 billion within three years. This is quite the price tag for a government that touts fiscal responsibility as a priority.

Not to mention that single-payer pharmacare would actually leave many Canadians worse off. A majority of Canadians are already covered by employer-sponsored drug insurance plans that give them faster access to more medicines than what a single-payer system would provide. Plus, public systems typically offer less access to new drugs that would be accessible under private plans.

Finally, healthcare is a matter of provincial/territorial jurisdiction, where there are already acute concerns about rising costs that are not fully covered by federal transfers. Provinces will be concerned about new obligations they may not want. Ultimately, single-payer pharmacare is a risk our country can’t afford right now, and would only serve to offer less coverage at higher costs to Canadians.

Kathy Megyery, Senior Vice President, and policy lead for life sciences and health innovation