Negative impacts of NHI already seen– Nagico MD Shan Mohamed
Speaking during an exclusive interview with Virgin Islands News Online yesterday March 2, 2016, Mohamed expressed some of the concerns of his company with regards to the just implemented NHI.
As the public comes to grips with the mandatory NHI, persons continue to express concern over the affordability of having both a private insurance coverage and the NHI.
Mr Mohamed noted that most of the healthcare providers have not made any public statements as to whether they are having challenges.
He said too that it is always been the accepted position among professionals in the industry that whenever the NHI was fully implemented the private insurance companies would see a significant reduction in their portfolio. “And that is exactly what has happened.”
The Nagico Insurances Managing Director noted, however, that it is early days still and that some companies have kept their full plan for a few months just to ensure a smoother transition.
“So after those months have exhausted you will see a further reduction. It is simple maths... people will find it very challenging to make payments on the two policies.”
He said that some issues still remain unclear as NHI continues to work out the details of its benefits schedule which should become clearer within the coming months and that benefits offered under the NHI for dental and vision care are less than what the private insurers offered.
NHI should have provided basic health coverage
Mr Mohamed is of the view that the NHI should have been designed to offer a basic healthcare coverage at very affordable costs and the private medical market is what provides for the wider range of medical benefits as NHI should never be competing with private medical insurance's scope of benefits.
The private insurance companies had expressed reservations over the implementation of the NHI in the form it was, saying that it would lead to loss of businesses and loss of jobs in the private insurance sectors.
Government rejected the recommendations of the NHI Concerned Citizens and Residents Group and went ahead with the implementation of the scheme without addressing a range of concerns expressed.
However, it is this news site's understanding that the numbers for registration that the Government had expected have not been evident so far.
29 Responses to “Negative impacts of NHI already seen– Nagico MD Shan Mohamed”
all the private insurers has to do now is lower they rates, they killed us for years now, come down on your expensive health coverage so others will follow u, don't just stand they and complain, its a business, see how low right way prices dropped since one mart started having they sales!
let the government make some of that money......just a few months ago maduro was complaining now Nagico.....when all of them making the money NO one complains....I was personally paying almost 1000.00 per month( for my family) now my payment is far better
More people now has access to health care, that is positive.
One Love!
Those private insurance companies are too greedy. They still have all the insurance on Houses, Vehicles, Boats, Life, and other personal assets. NHI is here to stay
. The good sir did not highlight these negative impacts. It's all very vague. He himself said it was to early to call.
. These impacts seem to be affecting the private firms. Not saying that it's a good thing, but what are the impact on the clients?
. If its private firms or NHI, guess who rope buss. Again, that is awful. But as a business, how adaptable are you? Is health insurance the only offering in your portfolio? Is there absolutely no way to make this work in your favor without pressuring the people?
next holiday is at a 4star hotel instaed of 5star luxury!
You don't take away what people have and give them less at least not in this time and age where medical are so expensive.
And you pay 12 months a year, right?
So tell me again about your almost free medical care off island, my policy at Colonial said i had to be referred, off island.
The great escape, never happened. . .
They have been crying "wolf" to scare people off. Go NHI.
In direct response to Mr. Mohamed's comments - 1. Co-pay on dental care is less with NHI - that is a fact. And 2. There is no obligation on the part of the govt to create an NHI scheme that does not compete with private insurance companies, or is tailored to compliment private Insurance companies. The government's responsibility is to the people of the BVI and it is doing the best to provide affordable healthcare for ALL. National Health schemes work perfectly in the US and UK... and in other C'bean Is. Why not in the BVI. Give it time... it will work well for the people of the BVI... (I hope that Mr. Mohamed is registered by now and paying into NHI too!)