The HCF working group is making preparations for Yee’s arrival. He will be joined by Jean-Claude Hennicot, Actuary of the Asian Development Bank.
According to the Social Security Administration, Singapore’s program of national healthcare financing is renowned as the best program throughout the world, with a medical savings account program that has been in successful operation since 1984.
Aside from seeking advice from international experts, the HCF working group has done several measures to address concerns from citizens, including meeting with private insurance companies and doing educational state visits to help residents learn more about the HCF programs.
After the draft regulations for the HCF is reviewed, it will be available to the public. “This will be an opportunity for all interested persons and parties to submit their views and comments in writing,” said the SSA statement.
According to SS Administrator Greg Ngirmang, “Our meeting with private health insurance providers in Guam was very positive. These agencies were very welcoming to the positive change that the HCF program will bring to their customers in Palau, since this program could result in better options and lowered costs in the long term.”
As for the concerns expressed by local employers who already provide health insurance to their employees, Ngirmang said that they will continue to meet with other providers “to ensure that coverage of benefits between our programs is closely coordinated.”
To help residents from other states understand the HCF programs, Ngirmang also spearheaded educational visits to the States of Babeldaob, distributing HCF Enrollment Forms and disseminating information.
The revised SS Quarterly Tax Report forms were also presented during state visits and meetings with employers.
“Business owners do not have to worry about filling out a separate form for contributions to the HCF,” Ngirmang explained. “Since they are familiar with the SS Quarterly Tax form, our office has revised the form to include contributions for both SS Quarterly Tax and HCF contributions. Employers will be able to pick up these revised forms from our office in October.”
The SSA said, the HCF working group will continue to coordinate with states and employers to provide information about this new program.
“This is an ongoing project that we would like to complete before the end of this year, so we are very grateful for everyone’s cooperation during this enrollment process,” Ngirmang said.
