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Topic: Cayman Islands National Insurance Company
But there is no question that something must be done to stop the out-of-control growth in government’s healthcare obligations and expenditures. Our current path is simply not sustainable.
Thousands of workers are effectively getting a Christmas bonus with the news that government has sanctioned cost of living salary adjustments for the majority of statutory authorities and government companies.
At this point it may seem somewhat obvious to observe that something is seriously wrong with Cayman’s healthcare system generally, and with Cayman’s public health insurer specifically.
Cabinet approved an equity investment of $4.53 million into Cayman Islands National Insurance Company to raise the public sector health insurer’s capital base above the minimum level prescribed by the regulator.
The government’s cursory announcement of the firing of Lonny Tibbetts (after eight years’ leading CINICO) masquerades as information, but it is actually an insult – to the public’s intelligence, and to the public’s right to know.
Thirty of 42 Cayman Islands government entities received the highest possible rating on audits of their finances during the 2015/16 budget year, Auditor General Sue Winspear reported Tuesday.
Efforts to lower taxpayer-funded healthcare premiums by encouraging government entities under private sector coverage plans to join the government-run insurer have failed, according to Cayman Islands National Insurance Company Chief Executive Lonny Tibbetts.
Cayman Islands public sector entities will lose a combined $38.5 million over the next three years, largely because the government insurer expects to pay much more to cover future healthcare premiums for uninsured residents.
Legal bills have reached more than $250,000 in dueling lawsuits in the United States between the Cayman Islands National Insurance Company and Simplifi, which administered payments for the insurer. Simplifi sued CINICO in an Ohio federal court in July 2013, accusing CINICO of canceling a contract without notice and owing Simplifi more than $150,000.
The Cayman Islands government’s $1.18 billion figure for estimated healthcare liabilities due over the next two decades may be a bit low.
It’s official: Not even the government wants to be locked into the government’s healthcare system.
Defense attorney Ben Tonner confirmed on Friday that an appeal has been filed on behalf of Canover Watson, who was found guilty earlier this month of various fraud-related charges.