HIP and FutureCare premiums to rise
Health Minister Zane DeSilva announced today that premiums for HIP and FutureCare will be increased as of April 1.
HIP Premiums will increase from $385 to $390 per month, while FutureCare, the programme for seniors, will see its premiums increase from $375 to $385 per month for phase one policy holders.
Premiums for phase two and three policyholders will remain the same at $635 per month.
The Minister said that FutureCare had ended its third year in a strong financial position but that claims were expected to increase significantly in future years.
He said that the Ministry was acting on actuarial advice "to ensure the sustainability of the funds".
Minister DeSilva also revealed that some 51 employers have been in premium arrears for more than 90 days, some for more than a year. About 175 employees are impacted.
"The Department started the group clean-up project in February 2011 and the progress has been extremely slow in having employers adddress their premium arrears," he said.
He would not reveal the names of the recalcitrant employers.
But the Minister said: "We recommend that employees actively pursue their employers in the first instance regarding their health insurance coverage status as it is the employer's responsibility to pay on their behalf."
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