The Bermuda Trade Union Congress has called on the Government to fully cover health insurance premiums to address the high cost of living.

Chris Furbert, BTUC second vice-president and president of the Bermuda Industrial Union, told a press conference that the BTUC had presented a position paper to David Burt, the Premier, proposing that corporate income Tax revenue be used to fully cover HIP and FutureCare premiums from April 1, 2027.

The group also proposed a two-year health insurance rebate pilot programme for all other health insurers, offering a 50 per cent rebate for the 2027 calendar year and a 100 per cent rebate for 2028.

Mr Furbert said: “For years, there have been endless discussions, proposals and studies talking about the high cost of living.

“The cost of living has increased to a point that the majority of Bermudians are not able to afford a reasonable quality of life and have seen a decline in their disposable income.

“The BTUC believes that the time has come for Bermuda to take actions towards addressing the increasing high cost of living.”

He said the surge in revenue sparked by the introduction of CIT created the opportunity for meaningful action, suggesting that covering health insurance would directly reduce household healthcare expenditure.

Mr Furbert said: “This proposal would benefit all of Bermuda.

“More money in people’s pockets, more money circulating in Bermuda’s economy, lower costs for employers, financial relief for our seniors, greater access to health insurance, directly addressing the high cost of living — the Government delivers a visible benefit from the CIT.

“This would be an opportunity to turn a portion of CIT revenue into something residents can see, feel and benefit from.”

The position paper noted that other governments have offered health insurance rebates or subsidies including Australia, Singapore and the United States.

The paper stated that the Consumer Price Index showed the health and personal care sector had risen by 35 per cent over the past ten years, while the CPI overall rose by 21.6 per cent during the same period.

The document added: “This highlights that healthcare increases have outpaced the rate of inflation.

“If the Government subsidises the cost of healthcare, it would result in an immediate benefit for the people of Bermuda.”

Mr Furbert said that the Government had received more than $1 billion in CIT revenue, while Bermuda’s total health insurance costs were about $800 to $900 million per year.

He said that the proposal could significantly improve the quality of life for residents, noting that a recent poll found almost a third of respondents saying that government relief in healthcare would have the greatest impact on the cost of living.

He added: “Twenty-nine per cent of people are saying they have a problem with healthcare costs. This addresses that very item.

“We know that healthcare is a problem, and while we appreciate that the Government has put some money into it, we don’t think they have gone far enough.”

Mr Furbert that he had sat on the Tax Commission, which made recommendations for the best use of CIT revenue.

He added that he had been steadfast that more should be directed towards healthcare.

He said: “I have said that in every meeting or just about every meeting. They all know where I stand on the issue of healthcare and reducing the costs for the people of Bermuda.”

Mr Furbert said that action also needed to be taken on cutting housing costs, in collaboration with the island’s banks.

He also announced that the BTUC would host a series of town hall meetings to discuss the insurance rebate proposal, with the first scheduled to take place at 6pm on October 20 at Penno’s Wharf, St George’s.

That will be followed by a second meeting at Dalton E Tucker Primary School in Southampton, and a third at St Paul AME Centennial Hall in Hamilton.