Shadow Health Minister says it also raises concern over insurance company mergers
One Bermuda Alliance Press Release from Robin Tucker, Shadow Health Minister:
Bermuda’s children and their families have been receiving quality care from Boston Children’s Hospital for decades so the news that Argus/BF&M will limit full insurance coverage to higher coverage tiers is concerning. Boston Children’s is ranked as the number one children’s hospital in the US and is consistently ranked amongst the best globally. The result of this decision is that some families will have to go elsewhere because of an inability to pay the portion of medical costs that will be uncovered by insurance.
This issue raises further concern about the impact of mergers of key service provider, such as insurance companies and the impact it has on the people of this tiny island.
As the working population continues to shrink health premiums continue to rise at unsustainable rates and we see coverage options shifting. The merger of two of three major health insurance providers has basically stripped Bermudians of choice and we find ourselves at the mercy of the insurance companies.
During the budget the Government promised refinement of regulatory oversight for health insurers. I would hope that as part of that refinement, that they will strengthen the Bermuda Health Council’s powers sufficiently to ensure that there is greater protection for Bermudians in the health insurance space.
