PHAC hires actuaries to review vaccine injury compensation program
PHAC's decision to seek an actuarial review suggests the agency wants a closer look at the program's future financial obligations and whether its current compensation framework remains appropriate.
The federal government is seeking outside actuarial expertise to review the financial framework behind Canada's Vaccine Injury Assistance Program (VIAP), a compensation program created to provide financial assistance to people who suffer serious and permanent injuries following vaccination with a Health Canada-approved vaccine.
According to a new procurement notice issued by the Public Health Agency of Canada (PHAC), the agency is looking for actuarial services to evaluate whether the program's current payment structure is financially sustainable and equitable over the long term.
The tender states that PHAC requires a contractor to "review the financial framework for the Vaccine Injury Assistance Program (VIAP)," assess the "reasonableness and equity of the payment structure," and recommend changes to support the program's long-term sustainability.
The review will examine whether the existing compensation model remains viable as claims continue to be processed. Actuaries are specialists who evaluate financial risk and long-term liabilities, often used by governments and insurance providers to assess the future costs of benefit programs.
The federal government launched the Vaccine Injury Support Program, now the Vaccine Injury Assistance Program, in 2021 amid the mass COVID-19 vaccination campaign. The program provides compensation to individuals who experience serious and permanent injuries, or to the families of those who die, following administration of a Health Canada-authorized vaccine.
PHAC's decision to seek an actuarial review suggests the agency wants a closer look at the program's future financial obligations and whether its current compensation framework remains appropriate.
The procurement notice does not indicate what prompted the review, how much compensation has been paid out to date, or whether anticipated future claims are expected to increase. However, PHAC says the objective is to ensure the program remains sustainable, fair to claimants, and aligned with actuarial best practices.
The contract will require the successful bidder to analyze the current framework and provide recommendations for potential improvements to the compensation model.
Sheila Gunn Reid
Chief Reporter
Sheila Gunn Reid is the Editor-in-Chief, Alberta Bureau Chief, member of the board of directors, and host of The Gunn Show at Rebel News. Sheila also serves as President of the Independent Press Gallery of Canada. A mother of three and longtime conservative activist, Sheila is the author of bestselling books, including her most recent release, Independence Blueprint: What Alberta Can Learn From Quebec.
https://mybook.to/sheila
