Saudi Press

Saudi Arabia and the world
Saturday, Feb 22, 2025

NATIONAL HEALTH INSURANCE IS ON THE ROPES

NATIONAL HEALTH INSURANCE IS ON THE ROPES

“It is going to be a national crisis,” Minister for Health and Social Development Hon. Carvin Malone declared as he laid before the House of Assembly a report which states that the BVI National Health Insurance (NHI) program is significantly strained and suffocating because of financial issues.

The Minister explained that the report is the product of a study that was conducted to assess the financial conditions of the National Health Insurance program and the adequacy of the contributions to support the benefits.

As he drew the attention of the members of the House of Assembly to the document and the serious message it contained the Minister said: “This is not one of the reports that we simply just lay on the table and hope that it goes away. We have to do something about it.”

Hon. Malone explained that the report included an analysis of the utilization of the system as well as expenditure, funding and other trends. He pointed out that the document also included projection over the next five years, a review and discussion around reserving requirements, an outline of the risks relating to the financial viability of the National Health Insurance plan and recommendations on the funding required to maintain the financial viability of the National Health Insurance Plan.

The Minister, in an effort to drive home the disquieting findings in the document read an excerpt from the report’s executive summary which announced that NHI is in a deficit.

The report said:  “The National Health Insurance program is exposed to numerous contingent events and risks and being a relatively small insurance plan … in year to year claims, expenditure can be expected based on current contributions, rates and similar future funding from government the National Health Insurance Plan is expecting on a best estimate basis to experience an accumulated deficit over 2018 to 2022 of some $34M.”

“If the deficit is to be solely funded by an increase in the contribution rate, the contribution rate would have to be increased effectively from 2018 from 7.5 percent to 8.7 percent. Alternatively, the contribution rate could increase by point four percent per annum in each of the following five years, so that it rises to 9.5 percent,” the document further outlined.

One of the suggestions for addressing the NHI situation was the raising of contributions. However, the Minister did not harp on that notion. Instead he said: “While it might be prudent to immediately increase the contribution rate we’ll suggest that any commitment or further review in expenditure or reimbursement or clarify derive from a funding policy be considered prior to implementing the increases,” Hon. Malone told the legislators.

As he emphasized the seriousness of the situation the Minister noted that the report was conducted in 2017 and that a lot has changed since then: “We must know as a people that the numbers have increased even more because after the hurricanes of 2017 there have been increases in every disease known to man relating to stress and certainly it would continue.”

Therefore, he suggested that an updated actuarial report review may well be needed to get a better understanding of the situation. However, in the interim he suggested that a brainstorming meeting involving all stakeholders be called to avert what he said could be a crisis. “It is the intention of the Ministry and of the government to hold a health summit to incorporate the Social Security, the NHI, the BVIHSA, practitioners at all levels to come into the same room, the same hall – all 13 of us (legislators) Mr. Speaker and yourself included coming into the same room because it is going to be a national crisis.”

Meanwhile, the Minister explained that people from the Territory are currently in need of assistance from NHI and therefore it is imperative that the funding issue be addressed. “We have our very own people sitting in hospital waiting room waiting for some word from NHI or from the representative as to whether or not their contribution or their part of their contribution – “could you send me some money so I can get my child in to see the doctor? Who is going to pay for this? Who is going to pay for that? It is an issue that we have on hand. It is one that must be addressed.”

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia and the United States Strengthen Ties Amid Global Developments
Saudi Arabia Hosts Global Conference to Promote Islamic Unity
The Impact of Artificial Intelligence on Education and Child Development
Saudi Arabia Announces Competition for Best Founding Day Outfits
Saudi-EU Food Security Officials Hold Talks to Strengthen Collaboration
Putin Expresses Gratitude to Saudi Crown Prince for Hosting US-Russia Talks
UK and Saudi Arabia Enhance Collaboration in Innovation and Technology
Denmark's Embassy in Riyadh Showcases Danish Cuisine with Saudi Influence
Saudi Artist Salman Al-Amir Unveils 'Tafawut' Exhibition in Riyadh
Saudi Arabia Offers Condolences to Kuwait Following Military Exercise Fatalities
Saudi Ministry of Islamic Affairs Completes Ramadan Preparations in Madinah
Etidal Secretary-General Hosts UN Counter-Terrorism Director in Riyadh
ADNOC Drilling Targets Over $1 Billion in Investments for 2025 Amid Gulf Expansion Plans
Derayah Financial Achieves Remarkable Growth in Saudi Brokerage and Asset Management
Saudi Arabia Shortlists 30 Firms for Mining Licenses in Eastern Province and Tabuk
Saudi Foreign Minister Engages Counterparts at G20 Meeting in Johannesburg
Oil Prices Decline Amid Rising US Inventories
Saudi Arabia's NDMC Plans Green Bond Issuance by 2025
Moody’s Affirms Egypt’s Caa1 Rating Amid Positive Economic Outlook
Oman and Saudi Arabia Strengthen Economic Ties with New Agreements
Saudi Arabia Investments Propel Expansion of Qurayyah Power Plant
Saudi Capital Market Authority Advances SPACs and Direct Listings
Global Energy Leaders Gather in Riyadh for Symposium on Energy Outlooks
Al-Ahsa Region Sees 500% Growth in Tourism as Saudi Arabia Prioritizes Development
Saudi Arabia Advances Entrepreneurial Ecosystem in Al-Ahsa with New Agreement
King Salman Approves Official Saudi Riyal Symbol
Saudi Credit Card Lending Reaches $8.4 Billion Amid Digital Payment Expansion
King Salman Approves Official Symbol for Saudi Riyal
Putin Thanks Saudi Crown Prince for Facilitating U.S.-Russia Discussions
Saudi Foreign Minister Attends G20 Meeting in Johannesburg
Saudi Arabia Prepares for Nationwide Founding Day Celebrations
Inauguration of Hira Park and Walkway Enhances Jeddah's Urban Landscape
Crown Prince Hosts Leaders for Informal Meeting in Riyadh Amid Gaza Rebuilding Plans
Saudi Official Highlights Achievements and Media's Role in National Transformation
Three Expatriate Women Arrested for Prostitution in Riyadh
Saudi Arabia's Diplomatic Evolution Highlighted at Saudi Media Forum
Healthy Eating and Preparation Essential for Ramadan Fasting
Saudi Arabia and Japan Forge Sustainable Textile Partnership
Advanced Limb Surgery Restores Mobility in Pediatric Cancer Patient
Jeddah Event Explores AI's Role in Boosting Saudi Arabia's SME Sector
UN Representative Highlights AI's Role in Perpetuating Gender Stereotypes
Saudi and Jordanian Leaders Discuss Enhanced Security Cooperation in Amman
Saudi British Society Honors Cultural Bridge-Builders at London Gala
Saudi Media Forum 2025 Explores AI's Role in Modern Journalism
Saudi Arabia's Saqer Al-Moqbel Appointed as WTO General Council President for 2025–2026
Saudi Deputy Ministers Engage in Diplomatic Discussions with U.S. and Dutch Officials in Riyadh
Saudi Arabia to Launch Iftar Program in 61 Countries During Ramadan
Saudi Visitors Expected to Spend £942 Million in UK During 2025
Saudi Arabia Gifts Kaaba's Kiswah to Uzbekistan's Center of Islamic Civilization
Digital Cooperation Organization Concludes Fourth General Assembly with Multiple Agreements
×