CIL monitoring possible job losses due to NHI
Jermyn was speaking with this new site on December 31, 2015 with regards to how the NHI’s implementation could affect some employees.
The NHI commenced operation in its original format on January 1, 2016 despite a petition with nearly one thousand signatures calling for several areas of concern to be addressed before implementation being sent to Premier Dr The Honourable D. Orlando Smith.
“It’s definitely a real concern. We have met with all of our employees and basically said that we were going to monitor the situation. It depends on how much health business is cancelled and how much business we could retain either through an overseas plan or a top up plan. But some people are keeping their regular insurance for a period just to make sure that they fully understand how the NHI is going to work,” he said.
However, he said that regarding the number of jobs that may be threatened as a result of the NHI it would be difficult for him to give a definite number as this would depend on many factors.
IABVI had expressed concerns which fell on deaf ears
The Insurance Association of the BVI (IABVI) had in a press statement some months ago expressed concern over possible job losses as a result of the implementation of NHI. However, these and other concerns seem to have fallen on deaf ears and the Association has resolved to ‘make do’ and adjust themselves to the reality of the controversial scheme.
In a press release circulated throughout the territory, it stated that while members of the IABVI would like to offer its customers supplementary or top-up plans it does not feel this would be affordable to most customers due to the expense of NHI.
The IABVI explained further that members of the IABVI currently insure approximately 62% of the population of the VI using the figure of population of the Ministry of Health and Social Development of 28,280. There are approximately 17,600 lives insured by insurance firms, and through agents and brokers in the VI.
“Based upon an average health insurance premiums across the BVI, the cost between the employer and employee for NHI is generally more expensive than the cost of private health insurance…This does not take account the cost of paying for any non-working spouses or dependents in your household which will increase the cost of NHI,” the IABVI said.
.png)
.png)
.png)
Follow Us On
15 Responses to “CIL monitoring possible job losses due to NHI”
That should keep a few of them employed.