Age Concern statement reveals ‘deep concern’ over insurance hike
Seniors advocacy organisation Age Concern is not throwing out the welcome mat for health insurance premium increases.
Health Minister Zane DeSilva announced on Monday that premiums for both HIP and FutureCare are to increase as of Sunday.
“In these times any increase is a burden, especially since some seniors will now be faced with additional land tax payments and licensing fees,” reads a statement from the board of Age Concern.
“We are deeply concerned that accumulative rate hikes like these, no matter how small, will further disadvantage more seniors, and potentially may put an even greater strain on the public purse with respect to financial assistance subsidies.”
The HIP premium is set to increase to $390 from $385 per month, while the FutureCare premium for phase one policyholders goes up to $385 from the current $375 per month.