Acting Commerce Secretary Sixto Igisomar on Tuesday said his department lacks the financial resources needed to provide total consumer information.
He said a rate review office will look into insurance carriers, their policies, programs, benefits and other details.
Igisomar said insurance carriers have their own policies and implement their programs at their own time.
“We need to review these carriers so we can provide all the information our consumers need,” he said.
The grant will pay for staff, equipment and everything else needed to run the two offices in one or two years’ time, he added.
Igisomar said 2007 to the present, the CNMI has from six to 11 health coverage carriers. Premiums and claims in 2007 amounted to $3.4 million and $1.2 million. Premiums went up in 2008 to $5.3 million and claims to $3.1 million.
The figures for premium and claims went down in 2009 to $3.5 million and $2 million.
For more information, visit www.commerce.gov.mp, email [email protected] or call 664-3064.
