News
Health Ministry,KPMG Sign
Contract Concerning Hospital Fees
The Ministerof Health Services, the Hon. Gilbert McLean (right) observes asActing Permanent Secretary Diane Montoya and KPMG Senior ManagingPartner Theo Bullmore sign a contract regarding the correlationbetween health insurance premiums and health services fees
The Ministry of Health Services has hiredKPMG to analyse current health insurance premiums, in order todetermine how the premiums will likely be affected by the proposedincrease in health services fees.
The firm will advise the ministry regardingthe premiums charged, as well as the provision and administrationof benefits, under the Standard Health Insurance Contract. Furthermore,concerning the same contract, KPMG will recommend premiums tocover expected losses and expenses, while still allowing insurancecompanies some profit.
Minister, the Hon. Gilbert McLean, saidhe believes it is the first time that Government has commissionedsuch a study. Echoing comments he recently made in the LegislativeAssembly, Mr. McLean remarked that the fees increase originallyset for April has been postponed until the report has been completedand reviewed.
"I want facts let's find outwhere we are," he noted. "We need a firm grasp on thereal costs of health benefits."
According to the agreement, KPMG will alsorecommend revisions and amendments to the Health Insurance Lawand Regulations (1997), said Acting Permanent Secretary DianeMontoya. Signed on Thursday, 4 April, the contract is officiallytitled the consultancy agreement for actuarial services; KPMG'sreport is expected by the end of May.
During the signing, Mrs. Montoya congratulatedKPMG for its successful bid on the contract and noted the firm'sthoroughness in preparing its proposal. "The timeframe isnecessarily tight," she acknowledged. "However, basedon your bid, the ministry is looking forward to receiving a well-researchedreport."