NHI has potential to bankrupt the territory- Premier Fahie
He was at the time speaking at the July 2, 2020, House of Assembly (HoA) sitting, where he pointed directly to the National Democratic Party (NDP) government of the past as responsible for the current state of affairs.
NDP mistakes failed the institution - Hon Fahie
Under the past NDP administration, NHI was created to provide access to, and financial coverage for health care services to residents of the territory.
However, while Hon Fahie said the institution was started with good intentions, he stressed that it was the mistakes of the NDP that resulted in its ultimate failure.
“NHI never catch itself from then to now and as a matter of fact, the Minister for Natural Resources said it completely, if it is not reviewed it will bankrupt the British Virgin Islands,” Hon Fahie said.
According to Premier, the Government has to bail out NHI with as much as 41M, a financial burden that the territory cannot afford, “Yes we have to fix it, but it is nothing that just started now,” he added.
$1M committed to reviewing NHI - Hon Fahie
As part of phase two of the Fahie Government’s COVID-19 stimulus programme, a $40ML grant was secure from the Social Security Board (SSB), with $1ML to be committed to rescuing NHI.
“$1ML out of that $40ML grant is to revise NHI into such a way that it will become a more broad-based entity almost or even greater, the same or greater as Social Security,” the Premier announced.
He said that reviewing of the government’s insurance is a must and cannot be ignored, “Because if we leave it to go in that way... we will be bankrupt just by NHI alone.”
He noted that the aim is for NHI to be profitable, and not a loss-making institution hence, experienced staff will be hired, “and that $1M is going towards making sure that we get the [right] persons... and the Social Security Board and NHI, will be selecting them.”
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31 Responses to “NHI has potential to bankrupt the territory- Premier Fahie”
I hope andrew them dont come with taking out more money out my little penny I making.
You done have to pay tax ss and this nhi and you dont get back nothing in return.
Bill's still high don't talk about RENT
Lord help us
Health insurance like other insurance is based on shared risk. The cost of insurance is spread over the whole risk pool; the larger the risk pool the less the cost to each individual member in the risk pool. The larger the risk pool the total cost will be spread over more people. The VI has a small population of approx 34,000. Based on this small population, it can be assumed that the cost of delivering healthcare services will typically be higher than in locales with much larger population. So what can the VI do?
The VI must have a national insurance plan, which it has in NHI. The NHI must be restructured to make it more affordable, solvent, functional and sustainable. Next, an experienced actuarial firm must be engaged to determine fair and reasonable and sustainable cost for employee, employer, government, others………etc. Further, the programme must be effectively-led/managed with eminently qualified staff to contain cost yet deliver high quality health services. To further contain cost, the community must engage in healthy/healthier lifestyles and preventive care and preventive medicine must be a core factor in national healthcare. Additionally, lower cost can be attained by developing and publishing a negotiated ( with key stakeholders) cost for health services schedule that providers who participate in the NHI programme agree to charge customers. Further, means-tested co-pays, co-insurance......etc should be explored.
Exploitation and greed aside, the NHI programme was poorly launched. Before launching the programme, government should have established a fair and reasonable fee schedule with the opportunity for some reasonable negotiation. At the end of the day, government fee schedule set, interested providers would have come on board with the fee schedule as the cost for service basis. The greedy others could just step if they didn’t want to play ball. With the large government/ NHI pool, not too many would have left that many customers on the table. Government needs to develop a fee schedule for service delivery.
1. Imagine this day and age every body young or old has to go to bougainvillea Clinic for MRI (hospital machines seldom works), colonoscopy echocardiogram only to name a few. These services are not offered at Peebles Hospital,
The elderly and children are not paying a cent to NHI but has to fork out millions of dollars to the Private establishment for these services. Mr. Premier and minister of health fix that. The NHS in England if you want to get service from a private establishment and you are not required to pay NHs you must assess the Government services. Fix that. Hospital is offering limited speciality services either has to go oversees or use Bougainvillea Clinic. Fix that. I can go on and on.
I noticed when ever a local person gives ideas without payment it is not taken seriously but you prefer to pay [ million dollars for them to tell you the same thing
Most NHI money siph****d by The purple flower clinic, fix there , problem solved