Up to date: Jul 10, 2024 09:42 PM
Bermuda insurer, CG Insurance coverage on Reid Road, Hamilton
A Bermuda insurer has denied any battle of curiosity, as alleged by opposition MP Craig Cannonier throughout a movement to adjourn within the Home of Meeting.
CG Insurance coverage stated that it established CG Pharmacy to make sure prescribed drugs have been inexpensive and accessible to all Bermuda residents, notably seniors, the underinsured and the uninsured.
Mr Cannonier was involved that the insurer was allowed to personal a pharmacy, one thing he claimed that docs weren’t even allowed to do.
He believed a pricing differential was paid out by the insurer for generic medication, primarily based on whether or not or not their very own pharmacy was used to fill the prescription. His argument was that generic medication have been usually lined totally by native insurers.
The insurer had been approached for a response and acknowledged yesterday: “There isn’t a battle of curiosity with CG Insurance coverage as a payor of claims offering entry to inexpensive remedy.
“Physicians decide what medication are prescribed, thereby controlling the utilisation and demand for medication. As a payor, CG has no management over what’s being prescribed however ensures that the medication are inexpensive and out there.
“CG’s commonplace well being plans cowl 100 per cent of generic prescriptions in any respect native pharmacies.
“Some employer teams have requested customized plans the place the coinsurance on generic medication varies, however that’s the employer’s alternative.
“Moreover, CG understands that there’s presently no laws stopping physicians from proudly owning pharmacies, laboratories, radiology/pressing care amenities and dialysis clinics. A number of physicians have already got pursuits in these companies.
“As a people-first firm, CG is dedicated to making sure that insureds have entry to improved well being outcomes, decreased illness development, minimised hospitalisations, and decrease general healthcare prices.”