Concerned about a high number of people still without health insurance coverage, the Barbados Association of Retired Persons (BARP) is looking to add another 2 000 to its inhouse plan.
Making the announcement at BARP’s Mervue House, Marine Garden, Hastings location on Tuesday, officials said the current health benefits are to be extended to the association’s newest members in the 40-49 age group.
As the country continues to battle high levels of non-communicable diseases (NCDs), BARP says it has partnered with Lynch Insurance Brokers Ltd. to extend coverage and add greater access to more preventative care.
Noting that an individual’s health status can change within seconds, BARP President Marilyn Rice-Bowen expressed concern that coming out of one of the association’s information sessions on Monday was people regretting not buying health insurance when they had the opportunity.
“What I find most disturbing is that at times you see people asking for assistance because they are suffering from some illness. But sometimes the cost can be $90,000 and [while] Bajans dig deep in their pockets they might only be able to raise $6,000.
“So insurance is about a risk, and the same level of importance you pay to insuring your cars and get fancy rims, you need to insure something even more important than that vehicle, and that is your life. Let the insurance company carry that risk for you,” said Rice-Bowen.
Meanwhile, Director of the Health and Benefits Unit at Lynch Insurance Brokers Ltd. Rosemary Austin said with the increasing number of entrepreneurs and the continued high levels of NCDs affecting the population, she was glad that the insurance company was partnering with BARP to offer the health coverage.
“We recognise there are a lot more entrepreneurs now and these are the persons who do not have health insurance, the majority of them,” she said.
“Health insurance is becoming a lot more critical now . . . Some people don’t think about ageing, but we have the non-communicable diseases, and as we have shared with the public, most of the claims were cataract and we are seeing a lot more younger people having to have cataract surgery,” said Austin.
However, she noted that in recent times a lot more individuals and companies have been inquiring about insurance coverage, but there was still a need for greater education.
“The challenge too, I find with some of the younger members is that they are concerned about confidentiality in the workplace in terms of their claims. Some of them do not sign up, but we always encourage persons even if you do not join your employers’ medical plan, to purchase an individual health plan because we are seeing a lot more younger persons having non-communicable illnesses,” she said.
Enrollment for the new health coverage, which is open to anyone aged 40 to 49 years who joins BARP by September 1, 2022, will run from the start of September until October 31, 2022.
Officials have not disclosed the likely monthly premium for the plan, but indicated that it would be competitive.
Eligible individuals who already have a health insurance plan can still sign up for this plan.
While individuals are able to sign up without providing any evidence of pre-existing health conditions, if there is a pre-existing medical condition then the plan will not provide coverage for that condition in its first two years.
Further information about the health plan will be shared at the time of signing up, which can be done at the BARP office or at Lynch Insurance at SkyMall.
During Tuesday’s media briefing, Rice-Bowen reported that since the lowering of the age for individuals to join BARP, sign-up has been going “fairly well”. However, she said “there is a lot of room for improvement”.
It is estimated that more than 40,000 Barbadians fall within the 40 to 49 age group.
