Improving Affordable Access to Prescription Drugs (IAAPD) initiative in Prince Edward Island (PEI)

The "Improving Affordable Access to Prescription Drugs (IAAPD) Initiative in Prince Edward Island (PEI)" was introduced by the Government of Canada in partnership with the Government of PEI on August 11, 2021. Implemented at the provincial level in PEI, this initiative targets Island residents who experience high prescription costs, particularly uninsured individuals, older persons, and families with significant drug expenses. It aims to enhance access to affordable prescription drugs and contribute to the groundwork for a national universal pharmacare program. Key measures include $35 million in federal funding from 2021-22 to 2025-26, which supports the addition of new drugs to PEI’s formulary and lowers out-of-pocket costs for medications covered under provincial plans. Effective June 1, 2023, PEI reduced copays to $5 for nearly 60% of regularly used medications and expanded access to its High-Cost Drug Program. Additionally, as of July 1, 2023, the Catastrophic Drug Program was adjusted to lower the annual out-of-pocket cap on eligible medication costs for households. This partnership between the Government of Canada and PEI continues to improve affordability and access to prescription drugs for those who experience the most vulnerability, including uninsured Island residents, older persons, and families with high drug costs.